SENATE BUDGET AND APPROPRIATIONS COMMITTEE

STATEMENT TO

SENATE, No. 2225

with Senate committee amendments

STATE OF NEW JERSEY

DATED: DECEMBER 11, 1997

      The Senate Budget and Appropriations Committee reports without recommendation Senate Bill No. 2225 with amendments.

      Senate Bill No. 2225, as amended, appropriates $5 million from the General Fund to the Department of Environmental Protection (DEP) for expanded shore protection funding in Fiscal Year 1998. This appropriation is in addition to the appropriation made in the FY 1998 appropriations act of $15 million for shore protection projects, an amount that is required to be annually credited to the Shore Protection Fund from a portion of the realty transfer tax pursuant to section 1 of P.L. 1992, c.148 (C.13:19-16.1)

      As amended and reported, this bill is identical to Assembly Bill No. 3142 (1R) (Gibson/Wolfe).

COMMITTEE AMENDMENTS:

      The committee amended the bill to complete the references to the State Fiscal Year 1998 appropriations act.

FISCAL IMPACT:

      This bill appropriates an additional $5 million from the General Fund to the Department of Environmental Protection (DEP) for expanded shore protection funding in Fiscal Year 1998.