Bill Text: NJ A419 | 2022-2023 | Regular Session | Introduced
Bill Title: Changes deadline for New Jersey Racing Commission's annual report from end of calendar year to end of State fiscal year.
Spectrum: Slight Partisan Bill (Democrat 2-1)
Status: (Introduced - Dead) 2022-01-11 - Introduced, Referred to Assembly Tourism, Gaming and the Arts Committee [A419 Detail]
Download: New_Jersey-2022-A419-Introduced.html
STATE OF NEW JERSEY
220th LEGISLATURE
PRE-FILED FOR INTRODUCTION IN THE 2022 SESSION
Sponsored by:
Assemblyman RALPH R. CAPUTO
District 28 (Essex)
Assemblyman RONALD S. DANCER
District 12 (Burlington, Middlesex, Monmouth and Ocean)
Assemblywoman CAROL A. MURPHY
District 7 (Burlington)
SYNOPSIS
Changes deadline for New Jersey Racing Commission's annual report from end of calendar year to end of State fiscal year.
CURRENT VERSION OF TEXT
Introduced Pending Technical Review by Legislative Counsel.
An Act changing the annual reporting deadline of the New Jersey Racing Commission and amending P.L1940, c.17.
Be It Enacted by the Senate and General Assembly of the State of New Jersey:
1. Section 7 of P.L.1940, c.17 (C.5:5-27) is amended to read as follows:
7. All such payments shall be made by the State Treasurer on warrant of the Comptroller of the Treasury after countersignature by the chairman of the commission. The secretary shall keep a record of all proceedings of the commission and shall preserve all maps, books, documents and papers belonging to the commission or entrusted to its care, and perform such other duties as the commission may prescribe. The commission shall make an annual report in writing to the Governor on or before the [first day of January of each year] last day of the State fiscal year and such additional reports as the Governor may from time to time request. The annual report shall include a statement of the receipts and disbursements of the commission and a summary of its activities, and any additional information and recommendations which the commission may deem of value or which the Governor may request.
(cf: P.L.1940, c.17, s.7)
2. This act shall take effect immediately.
STATEMENT
This bill changes the date on which the New Jersey Racing Commission's annual report to the Governor is due from the end of the calendar year to the end of the State fiscal year. This change will make the reporting process more effective.
The Racing Commission does not have access to all data needed for the commission's annual report by the end of the calendar year. As a result, the commission has to file an incomplete report at the end of the calendar year in order to meet the statutory requirement, and then file an additional, supplemental report when the additional information becomes available.
Changing the date on which the Racing Commission's annual report is due will eliminate the need to file multiple and incomplete reports in order to meet statutory reporting requirements.
