ASSEMBLY APPROPRIATIONS COMMITTEE

 

STATEMENT TO

 

ASSEMBLY, No. 39

 

STATE OF NEW JERSEY

 

DATED: JUNE 20, 1996

 

      The Assembly Appropriations Committee reports favorably Assembly Bill No. 39.

      Assembly Bill No. 39 appropriates $65 million from the "1995 New Jersey Green Acres Fund," established pursuant to section 22 of the "Green Acres, Farmland and Historic Preservation, and Blue Acres Bond Act of 1995," P.L.1995, c.204, for the acquisition of lands by the State for recreation and conservation purposes. This sum would include administrative costs.

      This bill also appropriates such sums as may be or become available on or before June 30, 1997, due to interest earnings in the "1995 New Jersey Green Acres Fund," in the "1992 New Jersey Green Acres Fund" established pursuant to section 21 of the "Green Acres, Clean Water, Farmland and Historic Preservation Bond Act of 1992," P.L.1992, c.88, and in the "1989 New Jersey Green Acres Fund" established pursuant to section 18 of the "Open Space Preservation Bond Act of 1989," P.L.1989, c.183, for funding the State projects listed in this bill, section 1 of P.L.1995, c.198, section 1 of P.L.1993, c.386, section 1 of P.L.1993, c.217, section 1 of P.L.1991, c.522, and section 1 of P.L.1991, c.13.

      Finally, the bill reappropriates the unexpended balances of the amounts appropriated or reappropriated for State projects pursuant to section 1 of P.L.1995, c.198, section 1 of P.L.1993, c.386, and section 1 of P.L.1993, c.217 from the "1992 New Jersey Green Acres Fund," and pursuant to section 1 of P.L.1991, c.522 and section 1 of P.L.1991, c.13 from the "1989 New Jersey Green Acres Fund," for funding the State projects listed in this bill, section 1 of P.L.1995, c.198, section 1 of P.L.1993, c.386, section 1 of P.L.1993, c.217, section 1 of P.L.1991, c.522, and section 1 of P.L.1991, c.13, to the extent such moneys are available as a result of project cancellations or cost savings.

      The appropriation made by this bill would exhaust all Green Acres bond act funds allocated for State acquisition projects.

FISCAL IMPACT:

      The bill appropriates $65 million from the "1995 New Jersey Green Acres Fund for the acquisition of lands by the State for recreation and conservation purposes. Interest earnings and unexpended balances in various bond funds are reappropriated.