ASSEMBLY APPROPRIATIONS COMMITTEE

STATEMENT TO

[Second Reprint]

SENATE, No. 4733

STATE OF NEW JERSEY

DATED:  JANUARY 8, 2026

      The Assembly Appropriations Committee reports favorably Senate Bill No. 4733 (2R).

      As reported, 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.  The bill requires the commission to use the appropriated funds in accordance with the current statutory requirements for the expenditure of monies in the Transportation Trust Fund Account and the conditions and requirements established in accordance with a memorandum of understanding between the Commissioner of Environmental Protection, the Executor Director of the commission, and the heads of any other agencies that the Commissioner of Environmental Protection deems necessary. 

      In addition, under the bill, the commission is to repay the $45 million to the Department of the Treasury (department), regardless of whether the commission receives any reimbursement, grant award, or other financial assistance from the federal government.  Finally, the bill provides that the schedule, terms, and conditions of repayment are to be established jointly by the department and commission and set forth in the memorandum of understanding required by the bill.

      As reported by the committee, Senate Bill No. 4733 (2R) is identical to Assembly Bill No. 6039 (1R), which was also reported by the committee on this date.

FISCAL IMPACT:

      This bill is not certified as requiring a fiscal note.