Bill

Bill > A4449


NJ A4449

Establishes minimum dollar amount required in Maintenance and Preservation Funds of cemetery companies established before December 1, 1971.


summary

Introduced
09/15/2022
In Committee
09/15/2022
Crossed Over
Passed
Dead
01/08/2024

Introduced Session

2022-2023 Regular Session

Bill Summary

This bill sets the minimum dollar amount a cemetery company must retain in its Maintenance and Preservation Fund at $37,500 if that company was established before December 1, 1971. Current law requires such cemetery companies to transfer into their Maintenance and Preservation Funds any funds established for the maintenance and preservation of the cemetery and any additional amount set by the New Jersey Cemetery Board. However, current law does not set a minimum dollar amount these cemeteries are required to retain in their Maintenance and Preservation Funds, as it does for cemetery companies established after December 1, 1971. Additionally, the bill requires that any funds exceeding the $37,500 minimum must be applied towards the maintenance and preservation of the cemetery.

AI Summary

This bill sets the minimum dollar amount a cemetery company established before December 1, 1971 must retain in its Maintenance and Preservation Fund at $37,500. Current law requires such cemetery companies to transfer any funds established for the maintenance and preservation of the cemetery and any additional amount set by the New Jersey Cemetery Board into this fund, but does not specify a minimum amount. The bill also requires that any funds exceeding the $37,500 minimum must be applied towards the maintenance and preservation of the cemetery.

Committee Categories

Business and Industry

Sponsors (1)

Last Action

Introduced, Referred to Assembly Regulated Professions Committee (on 09/15/2022)

bill text


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