Assembly Commerce, Economic Development and Agriculture Committee Statement to Assembly, No. 6039 (2026)

Summary

An Assembly Commerce, Economic Development and Agriculture Committee statement to Assembly, No. 6039, State of New Jersey, dated January 5, 2026, reporting the bill favorably with committee amendments. The bill supplements the Fiscal Year 2026 Appropriations Act and appropriates $45 million to the Palisades Interstate Park Commission to support disaster recovery projects. The commission would use the funds under the statutory requirements for the Transportation Trust Fund Account and a memorandum of understanding with the Commissioner of Environmental Protection. The commission is to repay the $45 million to the Department of the Treasury regardless of any federal reimbursement or grant, on terms set jointly in that memorandum. As amended, the bill is identical to Senate Bill No. 4733 (1R).

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ASSEMBLY COMMERCE, ECONOMIC DEVELOPMENT AND AGRICULTURE
COMMITTEE

STATEMENT TO

ASSEMBLY,
No. 6039

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 Assembly
Bill No. 6039.

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, Assembly
Bill No. 6039 is identical to Senate Bill No. 4733 (1R), as that bill was also
amended and reported by the committee on this date.

COMMITTEE AMENDMENTS:

The committee amended the bill to:

(1) 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;

(2) clarify that the commission is required to repay
the $45 million to the Department of the Treasury (department), regardless of
any reimbursement, grant award, or other financial assistance received from the
federal government; and

(3) require the schedule, terms, and conditions of
repayment to be established jointly by the department and the commission and set
forth in the memorandum of understanding required by the bill.

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