Bill Text: NJ A2753 | 2024-2025 | Regular Session | Introduced
Bill Title: Requires DEP to submit annual financial report on status of certain fund balances.
Spectrum: Bipartisan Bill
Status: (Introduced) 2024-01-09 - Introduced, Referred to Assembly Environment, Natural Resources, and Solid Waste Committee [A2753 Detail]
Download: New_Jersey-2024-A2753-Introduced.html
STATE OF NEW JERSEY
221st LEGISLATURE
PRE-FILED FOR INTRODUCTION IN THE 2024 SESSION
Sponsored by:
Assemblyman LOUIS D. GREENWALD
District 6 (Burlington and Camden)
Assemblyman JAY WEBBER
District 26 (Morris and Passaic)
Co-Sponsored by:
Assemblymen Coughlin and DiMaio
SYNOPSIS
Requires DEP to submit annual financial report on status of certain fund balances.
CURRENT VERSION OF TEXT
Introduced Pending Technical Review by Legislative Counsel.
An Act concerning submission of an annual financial report by the Department of Environmental Protection, and supplementing Title 13 of the Revised Statutes.
Be It Enacted by the Senate and General Assembly of the State of New Jersey:
1. a. On or before March 1 of each year, the Department of Environmental Protection shall compile and submit to the Governor and, pursuant to section 2 of P.L.1991, c.164 (C.52:14-19.1), to the Legislature a written report setting forth information concerning the status of appropriated and unappropriated balances of various accounts under the department's jurisdiction. Such accounts shall be designated according to their funding sources, which shall include but need not be limited to those receiving federal funds, one-time appropriations, special fees or tax revenues dedicated to specific program or functional purposes, proceeds from general revenue or obligation bonds, contributions or allocations from non-State entities such as public authorities or nonprofit institutions, and any other funding that would be assigned to accounts not normally associated with the department's operating budget.
b. As used in this section:
"Appropriated balances" means funds derived from loan repayments, interest or investment earnings, unspent administrative expenses, transfers from other bond acts or State funding sources, and federal contributions that may be available for reappropriation.
"Unappropriated balances" means funds that may be available for appropriation or reappropriation which may be derived from unissued bonds, unallocated funds, or unspent project monies.
2. The annual report, required pursuant to section 1 of this act, shall contain, but need not be limited to, the following information:
a. the statutory or regulatory authority for each account and the program area it supports;
b. the total amount of funds credited to and expended from each account during the preceding fiscal year; and
c. the account balances as of December 31 preceding the submission of the annual report as provided in section 1 of this act.
3. Notwithstanding the provisions of section 1 of this act to the contrary, the department shall compile and submit an initial interim report, based upon the most recent data available, within 30 days after the date of enactment of this act.
4. This act shall take
effect immediately.
STATEMENT
This bill requires the Department of Environmental Protection (DEP) to compile and submit to the Governor and the Legislature, on or before March 1 of each year, an annual report detailing the appropriated and unappropriated balances of special funding accounts under the department's jurisdiction. Such accounts, often referred to as "off-budget," "below the line" or "special revenue" accounts, would include those supported by bond acts, dedicated revenues, taxes or fees, special purpose or one-time appropriations, federal or non-State contributions, and other similar funding sources not generally available for scrutiny by the Legislature or the public.
The bill also requires the DEP to submit an initial interim report, based upon the most recent data available, within 30 days after the date of enactment of the bill into law.
