New Jersey 2024-2025 Regular Session

New Jersey Assembly Bill A5120

Introduced
12/9/24  
Refer
12/9/24  
Refer
12/12/24  

Caption

Appropriates $18,518,738 from constitutionally dedicated CBT revenues to NJ Historic Trust for grants for certain historic preservation projects and associated administrative expenses.

Impact

The proposed funding will support capital preservation grants for 43 specific projects that total $15,031,000, alongside 34 historic site management grants worth an aggregate of $1,467,738. Notably, this includes grants for significant landmarks such as the Absecon Lighthouse and the USS New Jersey. Such grants are essential for not only maintaining the structural integrity of these sites but also for ensuring they remain accessible and beneficial to the public, thus promoting cultural heritage.

Summary

A5120 is a bill introduced in the New Jersey legislature that seeks to appropriate $18,518,738 from constitutionally dedicated corporation business tax (CBT) revenues. The funds will be allocated to the New Jersey Historic Trust for grants aimed at supporting various historic preservation projects across the state. The bill is significant in its aim to enhance the preservation of New Jersey's rich historical sites, thereby fostering public interest and tourism which are vital for economic development in these areas.

Contention

A point of potential contention surrounding A5120 relates to the oversight of fund allocation by the New Jersey Historic Trust. The bill stipulates that any transfer or modification of project sponsorship will require approval from the Joint Budget Oversight Committee, which some stakeholders may feel complicates the process. Concerns may arise regarding the efficiency of funding disbursement and whether this might delay urgent preservation projects.

Companion Bills

NJ S3922

Same As Appropriates $18,518,738 from constitutionally dedicated CBT revenues to NJ Historic Trust for grants for certain historic preservation projects and associated administrative expenses.

Similar Bills

NJ S3922

Appropriates $18,518,738 from constitutionally dedicated CBT revenues to NJ Historic Trust for grants for certain historic preservation projects and associated administrative expenses.

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 A4572

Appropriates $101,696,535 from constitutionally dedicated CBT revenues to DEP for local government open space acquisition and park development projects; and for certain administrative expenses.

NJ S3474

Appropriates $10,067,905 to DEP from constitutionally dedicated CBT revenues for grants to certain nonprofit entities to acquire or develop lands for recreation and conservation purposes, and for certain administrative expenses.

NJ S1433

Designates bridge over Crosswicks Creek on Interstate Highway Route 295 North as "Benjamin Moore and the 693rd Sapper Company Memorial Highway."

NJ A4895

Makes FY2025 supplemental appropriation of $8,000,000 to Monmouth County Open Space and Farmland Preservation Trust Fund to assist in the purchase of the Stein property in Upper Freehold Township, New Jersey.

NJ S3904

"S2 Appropriations Rescue Act"; appropriates $106.5 million to provide Emergency Supplemental Aid to certain school districts, including districts negatively impacted by effects of P.L.2018, c.67.

NJ A4230

Amends appropriations act to provide funding for restoration of State school aid reductions for certain school districts; shifts $64,920,000 from certain appropriations for purposes of restoring aid; provides supplemental appropriation of $145,215,047.