Assembly Commerce, Economic Development and Agriculture Committee Statement to Senate, No. 4733 (January 5, 2026)

Summary

A statement from the Assembly Commerce, Economic Development and Agriculture Committee on [First Reprint] Senate, No. 4733, dated January 5, 2026, reporting Senate Bill No. 4733 (1R) favorably and with committee amendments. As amended and reported, the bill supplements the Fiscal Year 2026 Appropriations Act with $45 million for the Palisades Interstate Park Commission to support disaster recovery projects. The commission is to repay the $45 million to the Department of the Treasury, whether or not it receives federal reimbursement, a grant award, or other assistance. The committee amended the bill to clarify that the funds are to be used in accordance with current Transportation Trust Fund Account requirements. The statement says the bill is identical to Assembly Bill No. 6039.

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ASSEMBLY COMMERCE, ECONOMIC DEVELOPMENT AND
           AGRICULTURE COMMITTEE

                          STATEMENT TO

                             [First Reprint]
                        SENATE, No. 4733
                         with committee amendments



       STATE OF NEW JERSEY
                          DATED: JANUARY 5, 2026

           The Assembly Commerce, Economic Development and
      Agriculture Committee reports favorably and with committee
      amendments Senate Bill No. 4733 (1R).
           As amended and reported, this bill supplements the Fiscal Year
      2026 Appropriations Act and appropriates $45 million to the Palisades
      Interstate Park Commission (commission) to support the development
      and construction of disaster recovery projects. The bill requires the
      commission to use the appropriated funds in accordance with the
      current statutory requirements for the expenditure of monies in the
      Transportation Trust Fund Account and the conditions and
      requirements established in accordance with a memorandum of
      understanding between the Commissioner of Environmental
      Protection, the Executor Director of the commission, and the heads of
      any other agencies that the Commissioner of Environmental Protection
      deems necessary.
           In addition, under the bill, the commission is to repay the $45
      million to the Department of the Treasury (department), regardless of
      whether the commission receives any reimbursement, grant award, or
      other financial assistance from the federal government. Finally, the
      bill provides that the schedule, terms, and conditions of repayment are
      to be established jointly by the department and commission and set
      forth in the memorandum of understanding required by the bill.
           As amended and reported by the committee, Senate Bill No. 4733
      (1R) is identical to Assembly Bill No. 6039, as that bill was also
      amended and reported by the committee on this date.

      COMMITTEE AMENDMENTS:
          The committee amended the bill to clarify that the Palisades
      Interstate Park Commission (commission) is to use the $45 million
      appropriated by the bill in accordance with the current statutory
      requirements for the expenditure of monies in the Transportation Trust
      Fund Account.


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