ASSEMBLY TRANSPORTATION AND INDEPENDENT AUTHORITIES COMMITTEE

STATEMENT TO

SENATE, No. 497

STATE OF NEW JERSEY

DATED: JUNE 1, 2026

      The Assembly Transportation and Independent Authorities Committee reports favorably Senate Bill No. 497.

      As reported, this bill designates the portion of State Highway Route 35 in Laurence Harbor as the “James Francisco and Walter Schmidt Memorial Roadway” to honor Mr. Francisco’s and Mr. Schmidt’s service to their country and the State of New Jersey.

     Consistent with Department of Transportation (department) policy and other road designations, the bill prohibits State or other public funds from being used to produce, purchase, or erect signs bearing the designation for the “James Francisco and Walter Schmidt Memorial Roadway.”  Instead, the bill authorizes the Commissioner of Transportation to receive financial assistance from private sources for the costs associated with producing, purchasing, erecting, and maintaining signs bearing the designation.  Under the bill, the department may not implement the bill until an agreement is reached with a responsible party for the costs to produce, purchase, erect, and maintain the signs.

      As reported by the committee, Senate Bill No. 497 is identical to Assembly Bill No. 4620, which was amended and reported by the committee on this date.