LEGISLATIVE FISCAL ESTIMATE
[First Reprint]
ASSEMBLY, No. 2131
STATE OF NEW JERSEY
219th LEGISLATURE
DATED: AUGUST 5, 2020
SUMMARY
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Synopsis: |
Creates New Jersey Global War on Terror Medal. |
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Type of Impact: |
State Revenue Increase. |
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Agencies Affected: |
Department of Military and Veterans’ Affairs; Department of the Treasury. |
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Office of Legislative Services Estimate |
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Fiscal Impact |
Year 1 |
Year 2 |
Year 3 |
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State Revenue Increase |
Indeterminate |
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· The Executive has not submitted a formal fiscal note on this bill. However, the Department of Military and Veterans’ Affairs informally stated to the OLS that the department has certificates and 10,000 medals in current inventory. The department states that there is “no fiscal cost to the State because the medals have already been procured and that they expect to self-finance if additional medals are needed in the future.”
· The Office of Legislative Services (OLS) notes that the bill creates a special non-lapsing fund to be known as the “Global War on Terrorism Medal Fund.” Monetary donations received from any source for the purposes of the fund and any interest earned thereon will be deposited into the fund for the design, manufacture, and distribution of the medal and ribbon. The revenue impact is indeterminate because the number and amount of potential donations is unknown.
· The OLS also notes that while the bill is not anticipated to have an expenditure or revenue impact in the foreseeable future, it may sometime in the future if the demand for the medal exceeds the supply and the department is not able to self-finance.
BILL DESCRIPTION
This bill creates a Global War on Terrorism medal to be presented by the Governor to a veteran who was honorably discharged and is a resident of the State, was a resident upon entry into service, or has been a resident of this State for at least 20 years in the aggregate. The veteran must have served for 30 consecutive days or 60 non-consecutive days in one of the following operations to be eligible for the medal: Operation Enduring Freedom; Operation Noble Eagle; Operation Iraqi Freedom; Operation Nomad Shadow; Operation New Dawn; Operation Inherent Resolve; Operation Freedom’s Sentinel; and Operation Odyssey Lighting. The medal will also be available for a person killed in action or missing in action.
FISCAL ANALYSIS
EXECUTIVE BRANCH
The Executive has not submitted a formal fiscal note on this bill. However, the Department of Military and Veterans’ Affairs informally stated to the OLS that the department has certificates and 10,000 medals in current inventory. The department states that there is “no fiscal cost to the State because the medals have already been procured and that they expect to self-finance if additional medals are needed in the future.”
OFFICE OF LEGISLATIVE SERVICES
The OLS notes that the bill creates a special non-lapsing fund to be known as the “Global War on Terrorism Medal Fund.” Monetary donations received from any source for the purposes of the fund and any interest earned thereon will be deposited into the fund for the design, manufacture, and distribution of the medal and ribbon. The revenue impact is indeterminate because the number and amount of potential donations is not known.
The OLS also notes that while the bill is not anticipated to have an expenditure or revenue impact in the foreseeable future, it may sometime in the future if the demand for the medal exceeds the supply and the department is not able to self-finance.
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Section: |
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Analyst: |
Lead Fiscal Analyst |
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Approved: |
Frank W. Haines III Legislative Budget and Finance Officer |
This fiscal estimate has been prepared pursuant to P.L.1980, c.67 (C.52:13B-6 et seq.).