Although CAI-LAC has received word that both houses of the Legislature have pulled the collection moratorium bill COVID-19 Financial Security for Consumers Act, from the bills to be heard today, it does not mean that the bill will not advance.
We believe it means the Legislature is aware how devastating the bill would be to community associations. However, it is still so important that you write to your legislators in your district to express your strong opposition to the bill.
If passed, the bill will have a devastating impact on community associations. In short, it’s intent is to provide an assessment collection moratorium on all “affected” by COVID-19, and not allow creditors or debt collectors seek collection.
Without clear definition of what it means to be “affected,” it is essentially giving an assessment holiday for all.
Please write to your legislator immediately to advise of the deleterious effect this bill will have on the ability to provide the services it must to its members. Your letter, or e-mail, to your legislator is important and considered when bills are considered.
There is no time to waste, you must act now. Click here for a list of contact information for all NJ state legislators.
