SENATE BUDGET AND APPROPRIATIONS COMMITTEE

STATEMENT TO

SENATE, No. 3686

STATE OF NEW JERSEY

DATED:  MAY 20, 2021

      The Senate Budget and Appropriations Committee reports favorably Senate Bill No. 3686.

This bill supplements the Fiscal Year 2021 appropriations act by adding a new Department of Transportation language provision that appropriates such additional amounts, not to exceed $30 million, as determined by the Director of the Division of Budget and Accounting, as are required to pay debt service on the bonds issued pursuant to the “Motor Vehicle Surcharges Securitization Act of 2004,” P.L.2004, c.70, as amended.

FISCAL IMPACT:

      This bill is not certified as requiring a fiscal note.