This bill amends the Preserve New Jersey Act to allocate $20 million of constitutionally dedicated Corporation Business Tax (CBT) revenue specifically for development and stewardship projects at the State Capitol Complex Park in Trenton, New Jersey. The funding is intended for recreational and conservation purposes and will be deposited into a newly established State Capitol Complex Park Fund. The bill outlines that the funds must be used exclusively for these designated projects and requires that any appropriations from the fund identify specific projects to be funded, with oversight from the Joint Budget Oversight Committee.

Additionally, the bill mandates that the State Treasurer will conduct an annual review of the fund's appropriations and expenditures, ensuring transparency and accountability. It also stipulates that unexpended funds due to project withdrawals or cost savings will be returned to the State Capitol Complex Park Fund. The bill emphasizes that the allocated funds cannot be used for any purpose other than the specified development and stewardship projects at the park, reinforcing the commitment to enhancing the recreational and conservation value of the area surrounding the State Capitol.

Statutes affected:
Introduced: 13:8C-47.1