ASSEMBLY TRANSPORTATION AND INDEPENDENT AUTHORITIES COMMITTEE

STATEMENT TO

SENATE, No. 1535

STATE OF NEW JERSEY

DATED:  MARCH 10, 2022

      The Assembly Transportation and Independent Authorities Committee reports favorably Senate Bill No. 1535.

      As reported, 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.  If managed as a public utility, the county is required to keep the accounts of the airport utility separate and distinct from any other accounts of the county.

     The bill clarifies that any county 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.

     As reported, this bill is identical to Assembly Bill No. 2861, which was also reported by the committee on this date.