STATEMENT TO

[First Reprint]

ASSEMBLY, No. 465

with Senate Floor Amendments

(Proposed By Senator SINAGRA)

ADOPTED: MAY 30, 1996

      These amendments would provide that a fine for a violation or a continuing violation of the master deed, bylaws or rules and regulations shall not exceed the maximum monetary penalty permitted to be imposed for a violation or a continuing violation under section 19 of the "Hotel and Multiple Dwelling Law," P.L.1967, c.76 (C.55:13A-19).