Bill
Bill > S314
summary
Introduced
01/09/2024
01/09/2024
In Committee
03/17/2025
03/17/2025
Crossed Over
Passed
Dead
Introduced Session
2024-2025 Regular Session
Bill Summary
This bill allows local government units to finance the purchase, planting, and removal of trees and shrubbery through the issuance of long-term and short-term debt. The bill amends the "Local Bond Law" to provide that the purchase, planting, and removal of trees and shrubbery constitutes a period of usefulness of 15 years. Consequently, the bill permits local government units to issue 15-year bonds to defray the costs of these expenses. The bill also amends the "Local Budget Law" to permit a local government unit to adopt a special emergency appropriation for the purchase, planting, and removal of trees and shrubbery following a natural disaster. This authorization would allow the local government unit to issue special emergency notes to defray the costs of these expenses.
AI Summary
This bill allows local government units to finance the purchase, planting, and removal of trees and shrubbery through the issuance of long-term (15-year) bonds and short-term (special emergency) notes. The bill amends the "Local Bond Law" to provide that these tree-related expenses have a 15-year period of usefulness, enabling local governments to issue 15-year bonds to cover these costs. The bill also amends the "Local Budget Law" to permit local governments to adopt a special emergency appropriation for tree purchase, planting, and removal following a natural disaster, allowing them to issue special emergency notes to cover these expenses.
Committee Categories
Housing and Urban Affairs
Sponsors (3)
Last Action
Reported from Senate Committee, 2nd Reading (on 03/17/2025)
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/2024/S314 |
| Analysis - Statement SCU 3/17/25 | https://pub.njleg.gov/Bills/2024/S0500/314_S1.PDF |
| Analysis - Technical Review Of Prefiled Bill | https://pub.njleg.gov/Bills/2024/S0500/314_T1.PDF |
| BillText | https://pub.njleg.gov/Bills/2024/S0500/314_I1.HTM |
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