A2271

ASSEMBLY, No. 2271

STATE OF NEW JERSEY

INTRODUCED JULY 18, 1996

By Assemblymen ASSELTA, GIBSON, Moran, Connors, Wolfe, Holzapfel, Blee and LeFevre

An Act concerning maintenance dredging of State waterways, and amending P.L.1968, c.49 and P.L.1992, c.148.

Be It Enacted by the Senate and General Assembly of the State of New Jersey:

1. Section 4 of P.L.1968, c.49 (C.46:15-8) is amended to read as follows:

4. The proceeds of the fees collected by the county recording officer, as authorized by this act, shall be accounted for and remitted to the county treasurer. An amount equal to 28.6% of the proceeds from the first $1.75 for each $500.00 of consideration or fractional part thereof recited in the deed so collected shall be retained by the county treasurer for the use of the county and the balance shall be paid to the State Treasurer for the use of the State; provided however, that on and after the tenth day following a certification by the Director of the Division of Budget and Accounting in the Department of the Treasury pursuant to subsection b. of section 2 of P.L.1992, c.148 (C.46:15-10.2), 100.0% of the proceeds from the first $0.50 for each $500.00 of consideration or fractional part thereof recited in the deed so collected shall be retained by the county treasurer for the use of the county and no amount shall be paid to the State Treasurer for the use of the State. Payments shall be made to the State Treasurer on the tenth day of each month following the month of collection. Amounts, not in excess of [$15,000,000] $18,000,000, paid during the State fiscal year to the State Treasurer from the payment of fees collected by the county recording officer other than the additional fee of $0.75 for each $500.00 of consideration or fractional part thereof recited in the deed in excess of $150,000.00 shall be credited to the "Shore Protection Fund" created pursuant to section 1 of P.L.1992, c.148 (C.13:19-16.1), in the manner established under that section. All amounts paid to the State Treasurer in payment of the additional fee of $0.75 for each $500.00 of consideration or fractional part thereof recited in the deed in excess of $150,000.00 shall be credited to the Neighborhood Preservation Nonlapsing Revolving Fund established pursuant to P.L.1985, c.222 (C.52:27D-301 et al.), in the manner established under section 20 thereof (C.52:27D-320).

(cf: P.L.1992, c.148, s.4)

2. Section 1 of P.L.1992, c.148 (C.13:19-16.1) is amended to read as follows:

1. a. There is created in the Department of the Treasury a special non-lapsing fund to be known as the "Shore Protection Fund." The monies in the fund are dedicated and shall only be used to carry out the purposes enumerated in subsection b. of this section. The fund shall be credited with all revenues collected and deposited in the fund pursuant to section 4 of P.L.1968, c.49 (C.46:15-8), all interest received from the investment of monies in the fund, and any monies which, from time to time, may otherwise become available for the purposes of the fund. Pending the use thereof pursuant to the provisions of subsection b. of this section, the monies deposited in the fund shall be held in interest-bearing accounts in public depositories, as defined pursuant to section 1 of P.L.1970, c.236 (C.17:9-41), and may be invested or reinvested in such securities as are approved by the State Treasurer. Interest or other income earned on monies deposited into the fund shall be credited to the fund for use as set forth in this act for other monies in the fund.

b. [Monies] (1) Except as provided in paragraphs (2) and (3) of this subsection, monies deposited in the "Shore Protection Fund" shall be used for shore protection projects associated with the protection, stabilization, restoration or maintenance of the shore, including monitoring studies and land acquisition, consistent with the New Jersey Shore Protection Master Plan prepared pursuant to section 5 of P.L.1978, c.157, and may include the nonfederal share of any State-federal project, provided however that the Commissioner of Environmental Protection and Energy may, pursuant to appropriations made by law, allocate monies deposited in the fund for shore protection projects of an emergency nature, in the event of storm, stress of weather or similar act of God.

(2) Of the monies annually deposited in the fund, no less than $3 million shall be allocated and annually appropriated to the Department of Environmental Protection to provide for the maintenance dredging of State navigational waterways. The department shall establish and annually update a priority list of dredging projects eligible to receive funding from moneys appropriated pursuant to this section.

(3) Two percent of the monies annually deposited in the fund shall be allocated and annually appropriated for the purposes of funding the Coastal Protection Technical Assistance Service established pursuant to section 1 of P.L.1993, c.176 (C.18A:64L-1), of which amount up to $100,000 annually may be utilized for funding coastal engineering research and development to be conducted by Stevens Institute of Technology in response to requests therefor made by State or local governmental entities.

(cf: P.L.1993, c.176, s.5)

3. This act shall take effect immediately.

STATEMENT

This bill would increase the amount of realty transfer fee moneys credited to the "Shore Protection Fund" by $3 million in order to help fund the maintenance dredging of State navigational waterways. The fund was established pursuant to P.L.1992, c.148, which provided for the dedication of $15 million annually from the proceeds of realty transfer fees and their placement into the fund. This bill would increase that amount to $18 million per year, while dedicating $3 million for maintenance dredging purposes. The bill directs that the $3 million be appropriated annually to the Department of Environmental Protection, which is required to establish and annually update a priority list of dredging projects eligible to receive funding from moneys authorized to be appropriated pursuant to the bill.

Since this bill dedicates a purpose for the additional $3 million (i.e., for maintenance dredging), it does not affect the so-called "poison pill" provision of the law that created the Shore Protection Fund (P.L.1992, c.148). That provision stipulates that if the shore protection or neighborhood preservation dedicated funds are not appropriated for the dedicated purposes, of if the appropriation is violated by language contained in the provisions of an appropriations act, or an amendment or supplement thereto, then neither the State share of the realty transfer fee, nor the surcharge for the Neighborhood Preservation Nonlapsing Revolving Fund, can be imposed.

"The Safe Waters Act of 1996."