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Bill > S3971
NJ S3971
NJ S3971Provides that 10-year term does not apply to lease of certain municipal properties unless they are waterfront properties or related to waterfront concessions.
summary
Introduced
06/15/2023
06/15/2023
In Committee
01/04/2024
01/04/2024
Crossed Over
Passed
Dead
01/08/2024
01/08/2024
Introduced Session
2022-2023 Regular Session
Bill Summary
Provides that 10-year term does not apply to lease of certain municipal properties unless they are waterfront properties or related to waterfront concessions.
AI Summary
This bill amends existing law to provide that the 10-year term limit for leasing municipal properties does not apply to properties that are not waterfront or related to waterfront activities or concessions. Instead, those non-waterfront properties can be leased for up to 25 years. The bill also clarifies that the 10-year term limit applies to leases of waterfront properties, including those bordering the ocean, tidal water bays, or rivers, as well as easements in those areas.
Committee Categories
Housing and Urban Affairs
Sponsors (1)
Last Action
Substituted by A5565 (on 01/08/2024)
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/S3971 |
| Analysis - Statement SCU 1/4/24 | https://pub.njleg.gov/Bills/2022/S4000/3971_S1.PDF |
| BillText | https://pub.njleg.gov/Bills/2022/S4000/3971_I1.HTM |
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