Bill > A371

Introduced Session

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," N.J.S.40A:2-1 et seq., 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," N.J.S.40A:4-1 et seq., 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. Under current law, special emergency notes are required to mature no later than five years after the issuance.

Committee Categories

Sterley Stanley (D)*, 

Introduced, Referred to Assembly State and Local Government Committee (on 01/09/2024)

Official Document