NJ A643

Bill

Authorizes local units to refinance general obligation bonds irrespective of present value savings for period of one year.

Introduced
01/11/2022

In Committee
01/11/2022

Crossed Over

Passed

Dead
01/08/2024

Introduced Session

2022-2023 Regular Session

Bill Summary

Authorizes local units to refinance general obligation bonds irrespective of present value savings for period of one year.

AI Summary

This bill authorizes local units in New Jersey to refinance general obligation bonds irrespective of present value savings for a period of one year. Normally, the Local Finance Board must approve the issuance of refunding bonds to realize debt service savings on outstanding obligations, unless the present value savings meet a minimum threshold set by the Board's rules and regulations. This bill temporarily suspends that requirement, allowing local units to refinance their bonds without meeting the minimum present value savings threshold for a 12-month period.

Committee Categories

Government Affairs

Sponsors (1)

Craig Coughlin (D)*,

Last Action

Introduced, Referred to Assembly State and Local Government Committee (on 01/11/2022)

Official Document

https://www.njleg.state.nj.us/bill-search/2022/A643

(5 Companion Bills)

Version:

Document Type	Source Location
State Bill Page	https://www.njleg.state.nj.us/bill-search/2022/A643
BillText	https://www.njleg.state.nj.us/Bills/2022/A1000/643_I1.HTM
Bill	https://www.njleg.state.nj.us/Bills/2022/A1000/643_I1.PDF

Bill	Bill Name	Last Action	Type
A5847	Authorizes local units to refinance general obligation bonds irrespective of present value savings for period of one year.	Received in the Senate, Referred to Senate Budget and Appropriations Committee	Carry Over
A613	Permits State Lottery Commission to authorize video lottery terminals at Meadowlands racetrack, upon voter approval; dedicates 1/3 net proceeds to General Fund, 1/3 to State education aid, and 1/3 to horse racing industry.	Introduced, Referred to Assembly Tourism, Gaming and the Arts Committee	Carry Over
S1540	Authorizes local units to refinance general obligation bonds irrespective of present value savings for period of one year.	Introduced in the Senate, Referred to Senate Community and Urban Affairs Committee	Same As
S2437	Limits service fees charged to restaurants by third-party food takeout and delivery applications during COVID-19 state of emergency.	Approved P.L.2020, c.42.	Carry Over
S3938	Authorizes local units to refinance general obligation bonds irrespective of present value savings for period of one year.	Senate Budget and Appropriations Hearing (19:00 12/16/2021 The State House Annex has reopened to the general public. Visito)	Carry Over

Bill > A643

summary

Introduced Session

Bill Summary

AI Summary

Committee Categories

Sponsors (1)

Last Action

Official Document

bill text

bill summary

bill summary

bill summary