ASSEMBLY LOCAL GOVERNMENT COMMITTEE

STATEMENT TO

ASSEMBLY, No. 1339

STATE OF NEW JERSEY

DATED: FEBRUARY 15, 1996

      The Assembly Local Government Committee reports favorably Assembly Bill No. 1339.

      Assembly Bill No. 1339 would authorize the governing body of a municipality to accept payments for improvement assessments in yearly, quarterly or monthly installments. Under current law the governing body may provide only for the payment of assessments in yearly installments.

      Assembly Bill No. 1339 was pre-filed for introduction in the 1996-97 legislative session pending technical review. As reported by the committee, the bill contains the changes required by technical review, which has been performed.