This bill amends Section 7 of P.L.1997, c.24 (C.40:12-15.7) to allow municipalities to utilize funds from their "Municipal Open Space, Recreation, Floodplain Protection, and Farmland and Historic Preservation Trust Fund" for purposes beyond those originally authorized by voters. Specifically, if a municipality has established an arts and culture trust fund, it may, through a resolution, deposit amounts raised by the levy into its current fund for uses not related to the original purposes of the trust fund. This provision is limited to the tax levy for fiscal year 2027 and applies only to unspent funds deposited into the trust fund prior to that fiscal year.

Additionally, the bill maintains the existing framework for municipalities to propose tax levies for various purposes related to open space and historic preservation, including the ability to amend or supplement previously approved propositions. The governing body can submit propositions to voters for approval, and if a petition is filed by a sufficient number of voters, the governing body is required to present the proposition in a general or special election. The bill aims to provide municipalities with greater flexibility in managing their funds while ensuring that voter approval remains a key component of the process.

Statutes affected:
Introduced: 40:12-15.7