40:14B-40.1 Findings, declarations relative to infrastructure maintenance.
124 words·~1 min read·
/nj/title-40/chapter-14b/40-14b-40-1·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
1. The Legislature finds and declares that:
Infrastructure maintenance and repair are vital to the economy and quality of life in the State of New Jersey.
Infrastructure maintenance and repair continue to be insufficiently funded throughout the State.
Property taxes in this State continue to be a serious burden to local property taxpayers and so cannot be relied upon to fund necessary infrastructure maintenance and repairs.
It is in the public interest to develop additional funding sources to provide for necessary maintenance and repair of infrastructure within the State.
County utilities authorities with surplus funds offer one such additional funding source and a pilot program should be developed to explore the efficacy of using those surplus funds for these infrastructure purposes.
L.2013, c.190, s.1.