ASSEMBLY FINANCIAL INSTITUTIONS COMMITTEE

STATEMENT TO

ASSEMBLY, No. 601

STATE OF NEW JERSEY

DATED: MARCH 4, 1996

      The Assembly Financial Institutions Committee reports favorably Assembly Bill No. 601.

      This bill applies to liens arising from the federal "Comprehensive Environmental Response, Compensation and Liability Act of 1980," 42 U.S.C.§9601 et seq., and to other federal liens, notice of which under any act of Congress or any regulations adopted pursuant thereto, are required or permitted to be filed in such filing or recording office as a state may designate. This act would require these liens to be filed in the county where the property is situated.

      The bill also amends the statutory law concerning filing fees for federal tax liens to include other federal liens.

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