STATEMENT TO

[First Reprint]

ASSEMBLY, No. 2803

with Assembly Floor Amendments

(Proposed By Assemblyman DIGAETANO)

ADOPTED: DECEMBER 4, 1997

      These amendments revise the definition of an economic growth area to permit an urban enterprise zone to be designated as or included within an economic growth area. The amendments also clarify that the State, its agencies, or its independent entities will have no obligations toward repayment of the bonds issued except as provided by the bill. The amendments also require the State Treasurer to submit to the Joint Budget Oversight Committee for its review a development plan received from a developer. The amendments further require a development plan for a development within the Hackensack Meadowlands District to include documentation of all necessary approvals with local zoning ordinances notwithstanding the provisions of P.L.1968, c.404 (C.13:17-1 et seq.).