SENATE STATE GOVERNMENT, WAGERING, TOURISM & HISTORIC PRESERVATION COMMITTEE

 

STATEMENT TO

 

ASSEMBLY, No. 5439

 

STATE OF NEW JERSEY

 

DATED:  NOVEMBER 15, 2021

 

      The Senate State Government, Wagering, Tourism, and Historic Preservation 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.

      Assembly Bill No. 5439 is identical to Senate Bill No. 3760 of the 2020-2021 session.