SENATE BUDGET AND APPROPRIATIONS COMMITTEE

STATEMENT TO

SENATE, No. 4733

with committee amendments

STATE OF NEW JERSEY

DATED:  DECEMBER 15, 2025

      The Senate Budget and Appropriations Committee reports favorably and with committee amendments Senate Bill No. 4733.

      As amended, this bill supplements the Fiscal Year 2026 Appropriations Act and appropriates $45 million to the Palisades Interstate Park Commission (commission) to support the development and construction of disaster recovery projects.  Under the bill, the commission is required to enter into a memorandum of understanding with the Department of the Treasury which would require the commission to repay the department $45 million, regardless of whether the commission receives any reimbursement, grant award, or other financial assistance from the federal government.

COMMITTEE AMENDMENTS:

      The committee amended the bill to:

      (1)  clarify that the commission is obligated to repay the $45 million to the Department of the Treasury regardless of any reimbursements received from the federal government; and

      (2)  require the schedule, terms, and conditions of repayment to be set forth in the memorandum of understanding required by the bill.

FISCAL IMPACT:

      This bill has not been certified as requiring a fiscal note.