ASSEMBLY APPROPRIATIONS COMMITTEE

STATEMENT TO

SENATE, No. 3686

STATE OF NEW JERSEY

DATED:  JUNE 16, 2021

      The Assembly 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.

      As reported by the committee, Senate Bill No. 3686 is identical to Assembly Bill No. 5540, which also was reported by the committee on this date.

FISCAL IMPACT:

      This bill is not certified as requiring a fiscal note.