Bill
Bill > A736
NJ A736
NJ A736Extends period of usefulness of fire engines for bonding purposes from 10 to 20 years; eliminates exclusion of passenger cars and station wagons.
summary
Introduced
01/09/2024
01/09/2024
In Committee
01/09/2024
01/09/2024
Crossed Over
Passed
Dead
01/09/2024
01/09/2024
Introduced Session
2024-2025 Regular Session
Bill Summary
This bill amends N.J.S.40A:2-22, a section of the "Local Bond Law," to increase the period of usefulness of fire engines, apparatus, and equipment, for bonding purposes, when purchased new, from 10 to 20 years. Also, under that law, passenger cars and station wagons, other than those powered by alternative fuel sources, are excluded as automotive vehicles that may be financed. The bill removes that exclusion and allows for passenger cars and station wagons, when purchased new, to be financed for a period not to exceed five years.
AI Summary
This bill amends a section of the "Local Bond Law" to increase the period of usefulness for fire engines, apparatus, and equipment, when purchased new, from 10 to 20 years. It also removes the exclusion of passenger cars and station wagons, allowing them to be financed for up to 5 years when purchased new, like other automotive vehicles.
Committee Categories
Government Affairs
Sponsors (1)
Last Action
Withdrawn Because Approved P.L.2023, c.333. (on 01/09/2024)
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/2024/A736 |
| BillText | https://pub.njleg.gov/Bills/2024/A1000/736_I1.HTM |
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