Dedicates $500,000 annually in revenues from vessel registration and renewal fees to NJ Greenwood Lake Fund.
Impact
By providing a dedicated source of funding for the conservation of Greenwood Lake, the bill highlights the importance of this natural resource, which is not only used for drinking water by over 3.5 million residents but also offers various recreational activities. The allocation of funds specifically for the New Jersey side of the lake underlines a commitment to local environmental management. However, the bill also allows these funds to be utilized without requiring matching contributions from the state of New York, potentially simplifying inter-state collaboration and funding efforts.
Summary
Assembly Bill A2903 aims to establish the New Jersey Greenwood Lake Fund, a nonlapsing, revolving fund dedicated to the protection and enhancement of Greenwood Lake. The bill mandates that $500,000 annually from vessel registration and renewal fees be redirected to this fund to support the Greenwood Lake Commission's efforts in managing and maintaining the lake's health and accessibility. This initiative acknowledges the environmental significance of Greenwood Lake, which straddles the border between New Jersey and New York and serves as a critical source of drinking water for millions.
Contention
Despite the positive aspects of environmental preservation, the bill may face discussion regarding the fiscal implications of redirecting funds from vessel registration fees. Stakeholders might debate whether this policy could result in higher fees for boaters or impose restrictions on the rental and sale of vessels. Moreover, since Greenwood Lake is an inter-state resource, the dynamics between New Jersey and New York regarding joint funding initiatives could lead to diverging interests in lake management strategies, posing challenges for effective collaboration.
Allocates $10 million of constitutionally dedicated CBT revenues for grants for certain lake management activities for recreation and conservation purposes.
Allocates $10 million of constitutionally dedicated CBT revenues for grants for certain lake management activities for recreation and conservation purposes.
Allocates $10 million of constitutionally dedicated CBT revenues for grants for certain lake management activities for recreation and conservation purposes.
Appropriates $4 million from the Property Tax Relief Fund to DEP for mitigation and prevention of harmful algal blooms in Greenwood Lake; reduces Trenton Capital City Aid Program appropriation.
To Recognize The Greenwood High School Bulldogs Football, Cross Country, Basketball, Cheer, And Wrestling Teams For Their 2023-2024 State Championship Wins And Commend The Greenwood High School Bulldogs Head Coaches.