Bill > A4786

Introduced Session

This bill would make various changes to the membership and financial practices of the New Jersey Historic Trust (trust). Specifically, the bill would remove the Executive Director of the New Jersey Historical Commission from the trust, and add the Commissioner of Community Affairs or a designee. The bill would also expand the types of experience required for a citizen to serve as a trustee. Citizens with five years' experience in fundraising, redevelopment and financing, architecture, planning, archaeology, cultural nonprofit management, or any combination thereof would be eligible to serve as a trustee, under the bill. The bill would clarify that the trust is required to report on its fee collection from conferences, seminars, exhibitions, symposia, or similar meetings. The bill would permit the trust to collect fees from distributing any digital content that has been authored or commissioned by the trust for the purpose of promoting the preservation, improvement, restoration, rehabilitation, or acquisition of historic properties in the State. The bill would also require the trust to report on its collection of those fees. Under current law, the trust is required to deposit annual excesses from the accounts it uses to fund events and the distribution of promotional materials in the General Fund. This bill would remove this requirement and allow the trust to keep excess funds to be used for the same purposes in subsequent fiscal years. Finally, the bill would remove a $100 limit on the fee that the trust is permitted to charge for loan applications from the "Historic Preservation Revolving Loan Fund." The bill would allow the trust to determine the amount of the fee. The bill would also allow the trust to require loan applicants to pay for closing costs associated with the loan.

AI Summary

Committee Categories

Carol Murphy (D)*, 

Introduced, Referred to Assembly Tourism, Gaming and the Arts Committee (on 10/08/2020)