Bill > A3603

This bill extends the oversight period for municipalities deemed to be in need of stabilization and recovery under the Municipal Stabilization and Recovery Act (P.L.2016, c.4) by five years. Specifically, it modifies the duration for which a municipality remains subject to the Act's provisions, extending it from the end of its recovery plan or 109 months to 169 months after becoming subject to certain sections of the Act. Additionally, the bill lengthens the required recovery plan period from nine years to fourteen years and adjusts the timeline for the director's final report on a municipality's recovery from the tenth year to the 15th year following the determination of need. The Municipal Stabilization and Recovery Act provides a framework for state intervention and assistance to financially distressed municipalities, aiming to guide them toward financial stability through the development and implementation of recovery plans.

Government Affairs

https://www.njleg.state.nj.us/bill-search/2026/A3603