Bill > S2593

Introduced Session

This bill would authorize the use of constitutionally dedicated corporation business tax (CBT) revenues to provide grants to local governments to fund sewer or stormwater infrastructure projects that reduce nonpoint source pollution of the State's lakes and reservoirs, and help prevent harmful algal blooms. The bill would allow monies from the "Watershed Management Fund," which was established by the "Watershed Protection and Management Act of 1997," P.L.1997, c.261 (C.58:29-1 et seq.), to be used to fund the grants. The bill also clarifies that the "Watershed Management Fund" would serve as the repository for the 0.3 percent of annual CBT revenues that are constitutionally dedicated to paying or financing the cost of water quality point and nonpoint source pollution monitoring, watershed based water resource planning and management, and nonpoint source pollution prevention projects. The bill would also amend the "Preserve New Jersey Act" to authorize a portion of CBT revenues--namely those dedicated to the provision of grants and loans to assist local government units to pay the cost of acquisition and development of lands for recreation and conservation purposes--to be used to provide grants to local government units to fund 100 percent of the costs of projects undertaken for the management and maintenance of lakes and reservoirs with the aim of preventing or mitigating harmful algal blooms. The amount authorized is approximately 0.17 percent of annual CBT revenues. Finally, the bill provides that both kinds of grants can be used as matching funds by local government units for the purpose of obtaining other grants, including State or federal grants.

AI Summary

Committee Categories

Tony Bucco (R)*, 

Introduced in the Senate, Referred to Senate Environment and Energy Committee (on 02/08/2024)

Official Document