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Bill > S1540
NJ S1540
NJ S1540Authorizes local units to refinance general obligation bonds irrespective of present value savings for period of one year.
summary
Introduced
02/10/2022
02/10/2022
In Committee
02/10/2022
02/10/2022
Crossed Over
Passed
Dead
01/08/2024
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. Specifically, it allows local units to issue refunding bonds to realize debt service savings on outstanding obligations even if the present value savings are less than the minimum threshold set by the Local Finance Board's rules and regulations. This temporary measure is intended to provide flexibility for local governments to refinance their debt during this period.
Committee Categories
Housing and Urban Affairs
Sponsors (2)
Last Action
Introduced in the Senate, Referred to Senate Community and Urban Affairs Committee (on 02/10/2022)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://www.njleg.state.nj.us/bill-search/2022/S1540 |
| BillText | https://www.njleg.state.nj.us/Bills/2022/S2000/1540_I1.HTM |
| Bill | https://www.njleg.state.nj.us/Bills/2022/S2000/1540_I1.PDF |
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