Bill
Bill > S132
summary
Introduced
01/11/2022
01/11/2022
In Committee
09/29/2022
09/29/2022
Crossed Over
Passed
Dead
01/08/2024
01/08/2024
Introduced Session
2022-2023 Regular Session
Bill Summary
This bill allows local government units to finance the purchase, planting, and removal of trees and shrubbery through the issuance of long-term and short-term debt. The bill amends the "Local Bond Law," N.J.S.40A:2-1 et seq., to provide that the purchase, planting, and removal of trees and shrubbery constitutes a period of usefulness of 15 years. Consequently, the bill permits local government units to issue 15-year bonds to defray the costs of these expenses. The bill also amends the "Local Budget Law," N.J.S.40A:4-1 et seq., to permit a local government unit to adopt a special emergency appropriation for the purchase, planting, and removal of trees and shrubbery following a natural disaster. This authorization would allow the local government unit to issue special emergency notes to defray the costs of these expenses. Under current law, special emergency notes are required to mature no later than five years after the issuance.
AI Summary
This bill allows local government units to finance the purchase, planting, and removal of trees and shrubbery through the issuance of long-term bonds (15-year period of usefulness) and short-term special emergency notes. It amends the "Local Bond Law" and the "Local Budget Law" to provide this authorization, which is intended to help local governments address tree-related expenses, particularly following natural disasters.
Committee Categories
Housing and Urban Affairs
Sponsors (2)
Last Action
Reported from Senate Committee, 2nd Reading (on 09/29/2022)
Official Document
bill text
bill summary
Loading...
bill summary
Loading...
bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://www.njleg.state.nj.us/bill-search/2022/S132 |
| Analysis - Technical Review Of Prefiled Bill | https://pub.njleg.gov/Bills/2022/S0500/132_T1.PDF |
| Analysis - Statement SCU 9/29/22 | https://pub.njleg.gov/Bills/2022/S0500/132_S1.PDF |
| BillText | https://pub.njleg.gov/Bills/2022/S0500/132_I1.HTM |
| Bill | https://pub.njleg.gov/Bills/2022/S0500/132_I1.PDF |
| BillText | https://www.njleg.state.nj.us/Bills/2022/S0500/132_I1.HTM |
| Bill | https://www.njleg.state.nj.us/Bills/2022/S0500/132_I1.PDF |
Loading...