NJ
New Jersey Senate Bill S4135

New Jersey 2022-2023 Regular Session

New Jersey Senate Bill S4135

Introduced
11/30/23  
Refer
11/30/23  

Caption

Appropriates $15,564,293 from constitutionally dedicated CBT revenues to NJ Historic Trust for grants for certain historic preservation projects and associated administrative expenses.

Impact

The allocated funds will specifically support capital preservation grants for 37 designated projects, totaling approximately $12.18 million. Additionally, historical site management grants will be awarded for 35 projects, amounting to about $1.59 million. Notably, this includes support for emergency interventions and special tourism initiatives to bolster heritage-related activities within preserved sites, thereby fostering local engagement and economic activity.

Summary

Senate Bill 4135 proposes the appropriation of $15,564,293 from constitutionally dedicated corporation business tax (CBT) revenues to the New Jersey Historic Trust. The funds are earmarked for various historic preservation projects and associated administrative costs. This initiative aligns with the Preserve New Jersey Act, which aims to utilize dedicated CBT revenues for the enhancement of open space, farmland, and historic site preservation across the state.

Contention

While the bill enjoys broad support due to its potential benefits for community preservation and cultural tourism, there are some concerns regarding the allocation process and governance of the funds. Any changes to the designated projects or fund transfers require approval from the Joint Budget Oversight Committee, suggesting a level of oversight intended to ensure judicious use of taxpayer dollars.

Administration

The funding under this bill will also cover a $1.665 million allocation intended for administrative costs of the New Jersey Historic Trust. This part underlines the operational structure supporting the management and implementation of the funded projects, indicating that efficient administration is critical to the success of the initiatives proposed in this legislation.

Latest S4135 Activity

Companion Bills

NJ A5808

Same As Appropriates $15,564,293 from constitutionally dedicated CBT revenues to NJ Historic Trust for grants for certain historic preservation projects and associated administrative expenses.

Similar Bills

NJ A5808

Appropriates $15,564,293 from constitutionally dedicated CBT revenues to NJ Historic Trust for grants for certain historic preservation projects and associated administrative expenses.

NJ A1933

Appropriates $15,564,293 from constitutionally dedicated CBT revenues to NJ Historic Trust for grants for certain historic preservation projects and associated administrative expenses.

NJ A4959

Appropriates $53,249,310 from constitutionally dedicated CBT revenues to DEP for State acquisition of lands for recreation and conservation purposes, including Blue Acres projects, and Green Acres Program administrative costs.

NJ S3362

Appropriates $53,249,310 from constitutionally dedicated CBT revenues to DEP for State acquisition of lands for recreation and conservation purposes, including Blue Acres projects, and Green Acres Program administrative costs.

NJ S4165

Appropriates $48 million from constitutionally dedicated CBT revenues to DEP for State acquisition of lands for recreation and conservation purposes, including Blue Acres projects, and Green Acres Program administrative costs.

NJ A5121

Appropriates $49.5 million from constitutionally dedicated CBT revenues to DEP for State acquisition of lands for recreation and conservation purposes, including Blue Acres projects, and Green Acres Program administrative costs.

NJ A5806

Appropriates $48 million from constitutionally dedicated CBT revenues to DEP for State acquisition of lands for recreation and conservation purposes, including Blue Acres projects, and Green Acres Program administrative costs.

NJ S3943

Appropriates $49.5 million from constitutionally dedicated CBT revenues to DEP for State acquisition of lands for recreation and conservation purposes, including Blue Acres projects, and Green Acres Program administrative costs.