ASSEMBLY APPROPRIATIONS COMMITTEE

STATEMENT TO

ASSEMBLY, No. 362

STATE OF NEW JERSEY

DATED: JANUARY 9, 1997

      The Assembly Appropriations Committee reports favorably Assembly Bill No. 362.

      Assembly Bill No. 362 appropriates to the New Jersey Historic Trust from the "1992 Historic Preservation Fund" established pursuant to section 25 of the "Green Acres, Clean Water, Farmland and Historic Preservation Bond Act of 1992," P.L.1992, c.88, the sum of $6,334,437 for the purpose of awarding grants for historic preservation projects in southern New Jersey. The bill would also appropriate to the New Jersey Historic Trust from the "1992 Historic Preservation Fund" the sum of $102,500 for the purpose of funding the monitoring and enforcement of historic preservation easements, restrictions, or other requirements associated with the projects funded pursuant to this bill and a companion bill for northern New Jersey (Assembly Bill No. 385 of 1996).

      The transfer of any funds or project sponsor listed in the bill would require the approval of the Joint Budget Oversight Committee or its successor. The bill also provides that to the extent monies remain available after the projects listed in the bill are offered funding, the historic preservation projects listed in a companion bill for northern New Jersey (Assembly Bill No. 385 of 1996) would be eligible for additional funding, including administrative costs, in a sequence consistent with the priority system established by the New Jersey Historic Trust, but only with the approval of the Joint Budget Oversight Committee or its successor.

FISCAL IMPACT:

      This bill appropriates from the “1992 Historic Preservation Fund” to the New Jersey Historic Trust the sum of $6,334,437 for historic preservation projects in southern New Jersey and $102,500 for monitoring and enforcement of easements, restrictions and other requirements.