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A 3971 - Authorizes the Issuance of "Coronavirus Relief Bonds" by Local Governments - New Jersey Key Vote

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Title: Authorizes the Issuance of "Coronavirus Relief Bonds" by Local Governments

Title: Authorizes the Issuance of "Coronavirus Relief Bonds" by Local Governments

Title: Authorizes the Issuance of "Coronavirus Relief Bonds" by Local Governments

Vetoed by Governor Phil Murphy


Full Bill Text
Veto Letter
See How Your Politicians Voted

Title: Authorizes the Issuance of "Coronavirus Relief Bonds" by Local Governments

Vote Smart's Synopsis:

Vote to pass a bill that authorizes local governments to issue "coronavirus relief bonds".

Highlights:

 

  • Authorizes local governments to borrow money from “Coronavirus Relief Bonds” if they have incurred debt as a result of the COVID-19 pandemic (Sec. 1).

  • Requires the Coronavirus Relief Bonds to be funded by taxes levied upon all taxable property within a municipality’s jurisdiction (Sec. 1).

  • Requires municipalities to post on their home page the introduction, details, and time of hearing on the Coronavirus Relief Bond (Sec. 1).

  • Prohibits municipalities from issuing bonds more than the amount of debt incurred from the COVID-19 pandemic (Sec. 1).

  • Authorizes municipalities to use bonds to address revenue shortfalls and unanticipated expenses related to the COVID-19 pandemic (Sec. 1).

  • Specifies that bonds may be issued once or more up to the 24th month after the end of the state’s public health emergency (Sec. 1).

  • Establishes that this bill takes effect immediately upon passage (Sec. 1).

Full Bill Text

See How Your Politicians Voted

Title: Authorizes the Issuance of "Coronavirus Relief Bonds" by Local Governments

Vote Smart's Synopsis:

Vote to pass a bill that authorizes local governments to issue "coronavirus relief bonds".

Highlights:

 

  • Authorizes local governments to borrow money from “Coronavirus Relief Bonds” if they have incurred debt as a result of the COVID-19 pandemic (Sec. 1).

  • Requires the Coronavirus Relief Bonds to be funded by taxes levied upon all taxable property within a municipality’s jurisdiction (Sec. 1).

  • Requires municipalities to post on their home page the introduction, details, and time of hearing on the Coronavirus Relief Bond (Sec. 1).

  • Prohibits municipalities from issuing bonds more than the amount of debt incurred from the COVID-19 pandemic (Sec. 1).

  • Authorizes municipalities to use bonds to address revenue shortfalls and unanticipated expenses related to the COVID-19 pandemic (Sec. 1).

  • Specifies that bonds may be issued once or more up to the 24th month after the end of the state’s public health emergency (Sec. 1).

  • Establishes that this bill takes effect immediately upon passage (Sec. 1).

Full Bill Text

Title: Authorizes the Issuance of "Coronavirus Relief Bonds" by Local Governments

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