SENATE BUDGET AND APPROPRIATIONS COMMITTEE

STATEMENT TO

ASSEMBLY, No. 385

STATE OF NEW JERSEY

DATED: MARCH 10, 1997

      The Senate Budget and Appropriations Committee reports favorably Assembly Bill No. 385 of 1996.

      Assembly Bill No. 385 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 $4,423,989 for the purpose of awarding grants to thirteen historic preservation projects in northern New Jersey.

      To the extent monies remain available after the projects listed in the bill are offered funding, the historic preservation projects in southern New Jersey listed in companion legislation (Assembly Bill No. 362 of 1996 and Senate Bill No. 1711 of 1996) will be eligible for funding 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.

      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.

      As reported, this bill is identical to Senate Bill No. 1709 of 1996 (Palaia/Schluter).

FISCAL IMPACT

      This bill appropriates 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, to the New Jersey Historic Trust the sum of $4,423,989 for thirteen historic preservation projects in northern New Jersey.