Bill
Bill > A4816
NJ A4816
NJ A4816Eliminates five percent down payment requirement for bond ordinances approved by counties and municipalities.
summary
Introduced
10/20/2022
10/20/2022
In Committee
12/14/2023
12/14/2023
Crossed Over
Passed
Dead
01/08/2024
01/08/2024
Introduced Session
2022-2023 Regular Session
Bill Summary
Eliminates five percent down payment requirement for bond ordinances approved by counties and municipalities.
AI Summary
This bill eliminates the 5% down payment requirement for bond ordinances approved by counties and municipalities. It amends the existing law to state that a bond ordinance may appropriate a percentage of the amount of the obligations authorized as a down payment, rather than requiring a minimum 5% down payment. The bill also removes the exemptions to the down payment requirement that previously applied to certain types of bond ordinances, such as those for State-funded projects.
Committee Categories
Government Affairs
Sponsors (2)
Last Action
Reported out of Assembly Committee, 2nd Reading (on 12/14/2023)
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/A4816 |
| Fiscal Note - Fiscal Estimate 12/26/23; as introduced | https://pub.njleg.gov/Bills/2022/A5000/4816_E2.PDF |
| Analysis - Statement ASL 12/14/23 | https://pub.njleg.gov/Bills/2022/A5000/4816_S1.PDF |
| BillText | https://pub.njleg.gov/Bills/2022/A5000/4816_I1.HTM |
| Bill | https://pub.njleg.gov/Bills/2022/A5000/4816_I1.PDF |
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