SENATE ENVIRONMENT COMMITTEE

STATEMENT TO

SENATE, No. 1709

STATE OF NEW JERSEY

DATED: JANUARY 27, 1997

      The Senate Environment Committee favorably reports Senate Bill No. 1709. 

      This bill would appropriate to the New Jersey Historic Trust from the "1992 Historic Preservation Fund" established pursuant to section 25 of the "Green Acres, Clean Water, Farmland and Historic Preservation Bond Act of 1992," P.L.1992, c.88, the sum of $4,423,989 for the purpose of making grants, to be awarded by the New Jersey Historic Trust, for historic preservation projects in northern New Jersey, which sum would include administrative costs of the New Jersey Historic Trust incurred in administering the bill.

      The bill provides that any transfer of any funds or project sponsor listed in the bill would require the approval of the Joint Budget Oversight Committee or its successor.

      The bill also provides that to the extent monies remain available after the projects listed in the bill are offered funding, the historic preservation projects listed in a companion bill for southern New Jersey (Senate Bill No. 1711 of 1996 or Assembly Bill No. 362 of 1996) would be eligible for additional funding, including administrative costs, in a sequence consistent with the priority system established by the New Jersey Historic Trust, but only with the approval of the Joint Budget Oversight Committee or its successor.

      This bill is identical to Assembly Bill No. 385.