SENATE, No. 3686

STATE OF NEW JERSEY

219th LEGISLATURE

 

INTRODUCED APRIL 26, 2021

 


 

Sponsored by:

Senator  STEPHEN M. SWEENEY

District 3 (Cumberland, Gloucester and Salem)

Assemblyman  JOHN J. BURZICHELLI

District 3 (Cumberland, Gloucester and Salem)

Assemblyman  ROY FREIMAN

District 16 (Hunterdon, Mercer, Middlesex and Somerset)

 

 

Co-Sponsored by:

Assemblywoman Murphy

 

 

 

 

SYNOPSIS

     Supplements Department of Transportation language provisions in FY 2021 Appropriations Act to provide flexibility for debt service payments.

 

CURRENT VERSION OF TEXT

     As introduced.

  


A Supplement to the Fiscal Year 2021 appropriations act, P.L.2020, c.97.

 

     Be It Enacted by the Senate and the General Assembly of the State of New Jersey:

 

     1.    The following language is added to section 1 of P.L.2020, c.97, the annual State appropriations act for Fiscal Year 2021:

 

78 DEPARTMENT OF TRANSPORTATION

10 Public Safety and Criminal Justice

11 Vehicular Safety

6400 Motor Vehicle Services

DIRECT STATE SERVICES

 

Notwithstanding the provisions of any law or regulation to the contrary, there are appropriated such additional amounts, not to exceed $30 million, as determined by the Director of the Division of Budget and Accounting, as are required to pay debt service on the bonds issued pursuant to the “Motor Vehicle Surcharges Securitization Act of 2004,” P.L.2004, c.70, as amended.

 

     2.    This act shall take effect immediately.

 

 

STATEMENT

 

     This bill supplements the Fiscal Year 2021 appropriations act by adding a new Department of Transportation language provision that appropriates such additional amounts, not to exceed $30 million, as determined by the Director of the Division of Budget and Accounting, as are required to pay debt service on the bonds issued pursuant to the “Motor Vehicle Surcharges Securitization Act of 2004,” P.L.2004, c.70, as amended.