SCR41 SCR60 SCS

1. The following proposed amendment to the Constitution of the State of New Jersey is agreed to:

Amend Article VIII, Section II, by the addition of a new paragraph 6 to read as follows:

6. There shall be credited annually to a special account in the General Fund an amount equivalent to 4% of the revenue annually derived from the tax imposed pursuant to the "Corporation Business Tax Act (1945)," P.L.1945, c.162 (C.54:10A-1 et seq.), as amended and supplemented, or any other State law of similar effect.

The amount annually credited pursuant to this paragraph shall be dedicated and shall be appropriated from time to time by the Legislature only for the following purposes: paying or financing costs incurred by the State for the remediation of discharges of hazardous substances, which costs may include performing necessary operation and maintenance activities relating to remedial actions and costs incurred for providing alternative sources of public or private water supplies, when a water supply has been, or is suspected of being, contaminated by a hazardous substance discharge; providing funding, including the provision of loans or grants, for the upgrade, replacement, or closure of underground storage tanks that store or were used to store hazardous substances, and for the costs of remediating any discharge therefrom; and for paying or financing the cost of water quality point and nonpoint source pollution monitoring, watershed based water resource planning and management, and nonpoint source pollution prevention projects.

It shall not be competent for the Legislature, under any pretense whatever, to borrow, appropriate, or use the amount credited to the special account pursuant to this paragraph, or any portion thereof, for any purpose or in any manner other than as enumerated in this paragraph. It shall not be competent for the Legislature, under any pretense whatever, to borrow, appropriate, or use the amount credited to the special account pursuant to this paragraph, or any portion thereof, for the payment of the principal or interest on any general obligation bond that was approved by the voters prior to this paragraph becoming part of this Constitution.

(a) A minimum of one-sixth of the amount annually credited pursuant to this paragraph, or a minimum of an amount equal to $5,000,000.00 per year, whichever is less, shall be dedicated, and shall be appropriated from time to time by the Legislature, only for paying or financing the cost of water quality point and nonpoint source pollution monitoring, watershed based water resource planning and management, and nonpoint source pollution prevention projects.

(b) A minimum of one-third of the amount annually credited pursuant to this paragraph shall be dedicated, and shall be appropriated from time to time by the Legislature, only for providing funding, including the provision of loans or grants, for the upgrade, replacement, or closure of underground storage tanks that store or were used to store hazardous substances, and for the costs of remediating any discharge therefrom, except that the dedication of moneys pursuant to this subparagraph (b) shall expire on December 31, 2008 and may thereafter be dedicated and appropriated from time to time by the Legislature for any of the purposes authorized pursuant to subparagraphs (a), (b), or (c) of this paragraph. All moneys derived from repayments of any loan issued from the amount dedicated pursuant to this subparagraph (b) shall be dedicated, and shall be appropriated from time to time by the Legislature, only for the purposes authorized pursuant to this subparagraph (b). The dedication of moneys derived from loan repayments shall not expire. No moneys appropriated pursuant to this subparagraph (b) may be expended on any direct or indirect administrative costs of the State or any of its departments, agencies, or authorities. No moneys appropriated pursuant to this subparagraph (b) may be expended on any upgrade, replacement, or closure of any underground storage tank, or for the remediation of any discharge therefrom, for any underground storage tank owned by the State or any of its departments, agencies, or authorities.

(c) A minimum of one-half of the amount annually credited pursuant to this paragraph shall be dedicated, and shall be appropriated from time to time by the Legislature, only for paying or financing costs incurred by the State for the remediation of discharges of hazardous substances, which costs may include performing necessary operation and maintenance activities relating to remedial actions and costs incurred for providing alternative sources of public or private water supplies, when a water supply has been, or is suspected of being, contaminated by a hazardous substance discharge. No moneys appropriated pursuant to this subparagraph (c) may be expended for any indirect administrative costs of the State, its departments, agencies, or authorities. No more than nine percent of the moneys annually credited pursuant to this paragraph, which shall be taken from the amount dedicated pursuant to this subparagraph (c), may be expended for any direct program administrative costs of the State, its departments, agencies, or authorities. If the Legislature dedicates for the purposes of this subparagraph (c) any moneys above the minimum that is required to be dedicated pursuant to this subparagraph (c), those moneys may not be expended for any direct or indirect administrative costs of the State, its departments, agencies, or authorities.

2. When this proposed amendment to the Constitution is finally agreed to pursuant to Article IX, paragraph 1 of the Constitution, it shall be submitted to the people at the next general election occurring more than three months after the final agreement and shall be published at least once in at least one newspaper of each county designated by the President of the Senate, the Speaker of the General Assembly and the Secretary of State, not less than three months prior to the general election.

3. This proposed amendment to the Constitution shall be submitted to the people at that election in the following manner and form:

There shall be printed on each official ballot to be used at the general election, the following:

a. In every municipality in which voting machines are not used, a legend which shall immediately precede the question, as follows:

If you favor the proposition printed below make a cross (X), plus (+) or check (•) in the square opposite the word "Yes." If you are opposed thereto make a cross (X), plus (+) or check (•) in the square opposite the word "No."

		DEDICATION OF 4% OF CORPORATION BUSINESS TAX REVENUE FOR HAZARDOUS DISCHARGE CLEANUPS, UNDERGROUND STORAGE TANK UPGRADES AND CLEANUPS AND THE PRESERVATION OF WATER QUALITY
	YES	Shall the amendment to Article VIII, Section II, of the Constitution of the State of New Jersey, agreed to by the Legislature, to provide that an amount equivalent to 4% of the revenue annually derived from the imposition of the Corporation Business Tax, or any other State law of similar effect, be deposited in a special account, which could be appropriated by the Legislature only for the following purposes and in the following manner: a minimum of one-half for funding the costs incurred by the State relating to hazardous discharge remediations; a minimum of one-third, dedicated until December 31, 2008, for funding or financing loans and grants for underground storage tank upgrades, replacements, closures, and remediations; and a minimum of one-sixth, or a minimum of $5 million, whichever is less, for funding costs related to water quality monitoring, watershed planning, and nonpoint source water pollution prevention, be approved?
		INTERPRETIVE STATEMENT
	NO	Approval of this proposed constitutional amendment would dedicate 4% of the annual revenue from the Corporation Business Tax, or other similar tax, for (1) financing State funded hazardous discharge cleanups, (2) providing financing, loans and grants for underground storage tank improvements, and (3) providing financing for monitoring and protecting water quality. At current collection levels, this constitutional amendment would dedicate approximately $48 million per year. Of this amount, a minimum of one-half would be allocated for hazardous discharge cleanups, a minimum of one-third would be allocated until December 31, 2008 for underground storage tank projects, and a minimum of one-sixth, or a minimum of $5 million, whichever is less, would be allocated for water quality projects. Limitations are placed on the use of this money for administrative costs relating to underground storage tank projects and hazardous discharge cleanups.

Amends Constitution to dedicate 4% of Corporation Business Tax revenue to fund hazardous discharge cleanup, underground storage tank improvements, and surface water quality projects.