SENATE BUDGET AND APPROPRIATIONS COMMITTEE

STATEMENT TO

[First Reprint]

SENATE, No. 1898

STATE OF NEW JERSEY

DATED: JUNE 12, 1997

      The Senate Budget and Appropriations Committee reports favorably Senate Bill No. 1898 (1R).

      Senate Bill No. 1898 (1R) appropriates the expected current balance in the Petroleum Overcharge Reimbursement Fund to the Department of Community Affairs to be used for the retrofitting or replacement of heating systems or other energy-related conservation measures for low-income households. The intended use of these funds will be consistent with previous uses of such funds, and has been found to be more cost-effective than merely paying for energy consumption bills.

      As reported, this bill is identical to Assembly Bill No. 2648 (T. Smith/Kelly).

FISCAL IMPACT: 

      This bill appropriates, from the "Petroleum Overcharge Reimbursement Fund" created pursuant to section 1 of P.L.1987, c.231 (C.52:18A-209), the sum of $2,380,000 to the Department of Community Affairs to be used for the retrofitting or replacement of heating systems or other energy-related conservation measures as warranted, for low-income households.