SENATE BUDGET AND APPROPRIATIONS COMMITTEE

STATEMENT TO

SENATE, No. 1535

STATE OF NEW JERSEY

DATED:  FEBRUARY 28, 2022

      The Senate Budget and Appropriations Committee reports favorably Senate Bill No. 1535.

      This bill authorizes the governing body of any county that acquires, establishes, and operates an airport to maintain, operate, and manage the airport as a public utility of the county and, for that purpose, the county is to keep the accounts of the airport utility separate and distinct from any other accounts of the county.

      The bill clarifies that a county of any class may issue bonds for the purpose of acquiring real estate and thereafter equipping, maintaining, and operating that real estate for airport purposes.  The bill also clarifies that counties and municipalities are to follow the provisions of the “Local Bond Law” when issuing bonds for airport purposes.

FISCAL IMPACT:

      This bill is not certified as requiring a fiscal note.