ASSEMBLY TOURISM, GAMING AND THE ARTS COMMITTEE

STATEMENT TO

ASSEMBLY, No. 5439

STATE OF NEW JERSEY

DATED: MAY 5, 2021

The Assembly Tourism, Gaming and the Arts Committee reports favorably Assembly Bill No. 5439.

     This bill changes the date on which the New Jersey Racing Commission’s annual report to the Governor is due from the end of the calendar year to the end of the State fiscal year.  This change will make the reporting process more effective. 

     The Racing Commission does not have access to all data needed for the commission’s annual report by the end of the calendar year.  As a result, the commission has to file an incomplete report at the end of the calendar year in order to meet the statutory requirement, and then file an additional, supplemental report when the additional information becomes available.

     Changing the date on which the Racing Commission’s annual report is due will eliminate the need to file multiple and incomplete reports in order to meet statutory reporting requirements.