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Bill > A728


NJ A728

NJ A728
Authorizes municipalities to establish dredging control reserve fund.


summary

Introduced
01/11/2022
In Committee
01/11/2022
Crossed Over
Passed
Dead
01/08/2024

Introduced Session

2022-2023 Regular Session

Bill Summary

This bill authorizes a municipality to establish a dredging control reserve fund. Unexpended balances budgeted annually for dredging may be lapsed into the reserve. Upon passage of a resolution of the municipality's governing body, funds in the reserve may be used by the municipality after current budget appropriations for any purpose related to dredging, including, but not limited to, the removal of sand, silt, mud, clay, rock, or other material from the bottom of a waterway in order to maintain or deepen navigation channels and berths, related infrastructure development of such a project, the management of the dredged material through decontamination, acceptable placement or beneficial use, and the potential funding of such projects as necessary to support New Jersey's or the municipality's maritime, recreation, or tourism industries. Any reimbursement of these expenditures shall be deposited back into the reserve. Unexpended balances budgeted annually for expenses relating to dredging control may be lapsed into the reserve.

AI Summary

This bill authorizes municipalities to establish a dredging control reserve fund. Unexpended balances budgeted annually for dredging can be deposited into the reserve fund. The municipality's governing body can then use the funds in the reserve for various purposes related to dredging, such as removing materials from waterways to maintain or deepen navigation channels, infrastructure development, management of dredged materials, and funding projects to support the state's or municipality's maritime, recreation, or tourism industries. Any reimbursements of these expenditures must be deposited back into the reserve fund. The bill also allows unexpended balances budgeted annually for dredging control expenses to be lapsed into the reserve fund. The Local Finance Board is authorized to adopt rules and regulations to effectuate the purposes of this bill.

Committee Categories

Agriculture and Natural Resources, Government Affairs

Sponsors (2)

Last Action

Introduced, Referred to Assembly Environment and Solid Waste Committee (on 01/11/2022)

bill text


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