SENATE BUDGET AND APPROPRIATIONS COMMITTEE

STATEMENT TO

SENATE, No. 1450

STATE OF NEW JERSEY

DATED: SEPTEMBER 19, 1996

      The Senate Budget and Appropriations Committee reports favorably Senate Bill No. 1450 of 1996.

      Senate Bill No. 1450 appropriates $8,644,000 from the "Green Acres, Clean Water, Farmland and Historic Preservation Bond Act of 1992," P.L.1992, c.88 for eight dam restoration or inland waters projects.

      Two of the projects are located in Morris County, two in Sussex County, one in Cumberland County, one in Union County and two in Passaic County. The monies will be distributed as loans to assist local government units, and private lake associations or similar organizations or owners of private dams as co-applicants with local government units, to meet the costs of these projects. This appropriation also provides for administrative costs.

      As reported, this bill is identical to Assembly Bill No. 2066 of 1996 (Bucco/DeCroce).

FISCAL IMPACT

      This bill appropriates $8,644,000 from "1992 Dam Restoration and Clean Trust Fund," established pursuant to the "Green Acres, Clean Water, Farmland and Historic Preservation Bond Act of 1992," for loans to meet the costs of certain dam restoration or inland waters projects. According to the Department of Environmental Protection, there are sufficient funds available to meet this appropriation.