Bill > A2059

Introduced Session

This bill modifies provisions of the "New Jersey Economic Stimulus Act of 2009," P.L.2009, c.90 to ensure that it can be implemented effectively. One provision of that law that allows a State college or a county college to enter into a contract with a private entity, permitting the private entity to assume full financial and administrative responsibility for construction or improvement of a project on campus, provided that the private entity finances the project and the State or institution of higher education retains ownership of the land. Section 1 of this bill amends that section to provide that a project will be eligible as a public-private partnership if the project benefits or enhances the institution although the project does not specifically involve a building, structure or facility of the college. The bill authorizes another public entity to become the owner or lessee of the project, the lessee of the land, or both, and to issue indebtedness in accordance with that public entitys enabling statute. The bill provides that the public entity will not be subject to the contracting or procurement requirements established under law for that entity. This bill clarifies that such a project and the land upon which the project is located are exempt from property taxation and special assessments of the State, the municipality, or other political subdivision of the State provided that the project is owned by or leased to a public entity, non-profit business entity, foreign or domestic, or a business entity wholly owned by such non-profit business entity. Also, the bill provides that no payment in lieu of taxes will be required. Under current law, a project must be submitted to the New Jersey Economic Development Authority for its review and approval within nineteen months of the laws original effective date, July 28, 2009. The bill removes this time limit on the submission and approval of projects. Sections 2 through 6 of the bill ensure that ordinances that are authorized to be adopted pursuant to the "New Jersey Economic Stimulus Act of 2009" will not be subject to delays from public referendum challenges in those municipalities in which general initiative and referendum is authorized. The statutes contain other provisions to ensure that certain types of ordinances are not subject to public changes through initiative and referendum and ordinances adopted for the purpose of providing economic stimulus require swift implementation and should not be impeded through the referendum process.

AI Summary

Committee Categories

John Amodeo (R)*,  Albert Coutinho (D),  Angel Fuentes (D),  Vince Polistina (R), 

Substituted by S920 (3R) (on 03/22/2010)