LEGISLATIVE FISCAL ESTIMATE
SENATE, No. 4812
STATE OF NEW JERSEY
221st LEGISLATURE
DATED: JANUARY 7, 2026
SUMMARY
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Synopsis: |
Requires DCA to resume Reconstruction, Rehabilitation, Elevation and Mitigation program with remaining funds for unmet recovery and rebuilding needs for Superstorm Sandy-impacted homeowners. |
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Type of Impact: |
Potential State expenditure increase. |
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Agencies Affected: |
Department of Community Affairs. |
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Office of Legislative Services Estimate |
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Fiscal Impact |
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Potential State Expenditure Increase |
Indeterminate |
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· The Office of Legislative Services (OLS) determines that the bill may result in a State expenditure increase to the extent the Department of Community Affairs provides additional grant funding as a result of the bill.
BILL DESCRIPTION
This bill would require the Department of Community Affairs, to the extent that there remains sufficient, uncommitted appropriations for grant issuance, to resume the Reconstruction, Rehabilitation, Elevation and Mitigation program and accept grant applications to provide funding that was intended to fund the unmet needs of Superstorm Sandy-impacted homeowners who are still in need of recovery and rebuilding financial assistance. The program assists eligible applicants whose homes were damaged by Superstorm Sandy to complete the work necessary to make their homes livable and compliant with flood plain, environmental, and other State and local requirements. The program is intended to supplement other funds the owner has received to repair or reconstruct the structure. The program provides a grant to eligible applicants of up to $150,000.
FISCAL ANALYSIS
EXECUTIVE BRANCH
None received.
OFFICE OF LEGISLATIVE SERVICES
The OLS determines that the bill may result in a State expenditure increase to the extent the Department of Community Affairs provides additional grant funding as a result of the bill.
The department reported that, as of June 30, 2025, the State had expended $1,318,670,378 out of the $1,336,723,934 total allocation for the Reconstruction, Rehabilitation, Elevation and Mitigation (RREM) program, or 98.6 percent of the total allocation. The remaining unexpended amount is $18.1 million. The department is no longer accepting applications for the RREM program. However, to the extent that these funds are still available and uncommitted, the bill would require the department to resume the RREM program and accept grant applications for unmet recovery and rebuilding needs for Superstorm Sandy-impacted homeowners. The OLS does not have information to predict how many applications may be received nor how much funding may be provided.
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Section: |
Local Government |
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Analyst: |
Associate Fiscal Analyst |
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Approved: |
Thomas Koenig Legislative Budget and Finance Officer |
This legislative fiscal estimate has been produced by the Office of Legislative Services due to the failure of the Executive Branch to respond to our request for a fiscal note.
This fiscal estimate has been prepared pursuant to P.L.1980, c.67 (C.52:13B-6 et seq.).