CHAPTER 61
An Act concerning the appropriation of moneys from the "Water Conservation Bond Act," P.L.1969, c.127, for the cost of acquisition of lands or interests therein in Sterling Forest for the purpose of augmenting, increasing, improving, preserving, protecting, or conserving natural water resources and supplies important to New Jersey and facilitating recreational uses incidental thereto, and amending P.L.1995, c.7.
Be It Enacted by the Senate and General Assembly of the State of New Jersey:
1. Section 1 of P.L.1995, c.7 is amended to read as follows:
1. a. There is appropriated to the Department of Environmental Protection from the "Water Conservation Fund" established pursuant to section 13 of the "Water Conservation Bond Act," P.L.1969, c.127, for distribution to the Palisades Interstate Park Commission, the sum of $10,000,000 for the acquisition of lands or interests therein by the Palisades Interstate Park Commission in Sterling Forest, New York, for the purpose of augmenting, increasing, improving, preserving, protecting, or conserving natural water resources and supplies important to New Jersey and facilitating recreational uses incidental thereto. Upon the enactment of the federal "Omnibus Parks and Public Lands Management Act of 1996," Pub. L. 104-333, and within 60 days of the effective date of P.L.1997, c.61, the Department of Environmental Protection shall distribute to the Palisades Interstate Park Commission the sum of $10,000,000 appropriated pursuant to this subsection as New Jersey's share of the purchase. The Palisades Interstate Park Commission shall hold these funds in an interest bearing account until such time as a purchase agreement has been consummated and the funds are required. Any interest that accrues on the funds in the account shall be used for the acquisition of lands or interests therein in Sterling Forest, New York, or costs related thereto . If no purchase agreement is entered into within three years of the effective date of P.L.1997, c.61, the $10,000,000 plus interest earnings shall be returned to the Department of Environmental Protection and deposited into the "Water Conservation Fund" to be used for the purposes expressed in the "Water Conservation Bond Act," P.L.1969, c.127. The Department of Environmental Protection shall be satisfied that any moneys expended pursuant to this section are consistent with the fair market value of the lands or interests therein purchased.
b. To the extent that the balance of the moneys available in the "Water Conservation Fund" that have not been previously appropriated pursuant to law is insufficient to support the sum appropriated pursuant to subsection a. of this section, the following shall be made available from the "Water Conservation Fund" to support the remainder of the appropriation made in subsection a. as required: (1) moneys returned to the "Water Conservation Fund" due to project withdrawals, cancellations, or cost savings involving projects previously funded by law; and (2) moneys previously appropriated by law from the "Water Conservation Fund" to fund projects but for which no such moneys have been expended, other than for administrative or program purposes, in the five-year period immediately prior to the effective date of this act, or to fund projects deemed by the Department of Environmental Protection as of the effective date of this act to be no longer active, the previous appropriation of which is cancelled subject to the approval of the Joint Budget Oversight Committee or its successor.
2. Section 4 of P.L.1995, c.7 is amended to read as follows:
4. This act shall take effect immediately, except that section 1 of this act shall take effect upon the State of New York committing the sum of at least $10,000,000 for the acquisition of lands or interests therein in Sterling Forest, New York, for the purpose of augmenting, increasing, improving, preserving, protecting, and conserving natural water resources and supplies, or for recreation and conservation or similar purposes.
3. This act shall take effect immediately.
Approved April 3, 1997.