ASSEMBLY HOUSING COMMITTEE

STATEMENT TO

ASSEMBLY, No. 507

with committee amendments

STATE OF NEW JERSEY

DATED: NOVEMBER 17, 1997

      The Assembly Housing Committee reports favorably Assembly Bill No. 507, with committee amendments.

      This bill, as amended, establishes a loan program to assist homeowners and small business owners with the cost of abating asbestos in a hazardous condition. The Department of Commmunity Affairs, Division of Housing and Community Resources would administer the program. The department also would be charged with conducting a public awareness program. The bill would appropriate $1,150,000, of which $1,000,000 shall be for the loan program, $100,000 shall be for the public awareness program, and $50,000 shall be dedicated to the costs of implementing the loan program.

      The committee amended the bill to correct the name of the Division which will be administering the program.

      This bill was pre-filed for introduction in the 1996-1997 legislative session pending technical review. As reported, the bill includes the changes required by technical review which has been performed.