The bill amends New Jersey law concerning online parking payment services, specifically addressing the contractual obligations between municipalities and service providers. It requires that any contract must stipulate that service providers cannot charge users for parking during times when parking is prohibited at designated projects. This provision aims to protect users from incurring fees when parking is not allowed. Additionally, the bill introduces new definitions for terms such as "online parking payment service," "user," and "parking project," ensuring clarity and consistency within the law.

Furthermore, the bill enhances the authority of parking authorities by allowing them to enter into contracts with online payment service providers and granting them expanded powers. These powers include the ability to construct facilities for commercial use, sell or transfer property, collect reasonable service rates, invest reserve funds, and borrow money. The overall goal of the bill is to modernize the operations of parking authorities and improve the management of parking facilities in municipalities, with the act set to take effect immediately upon passage.

Statutes affected:
Introduced: 40:11A-3, 40:11A-6