Makes supplemental appropriation of $45,000,000 from Transportation Trust Fund Account - Subaccount for Capital Reserves to Palisades Interstate Park Commission for certain construction projects.
This bill appropriates $45 million from the Transportation Trust Fund's Capital Reserves subaccount to the Palisades Interstate Park Commission for disaster recovery construction projects. The funds are specifically for rebuilding infrastructure damaged by disasters, subject to approval by the state budget director. The commission must repay any federal reimbursements it receives for these projects to the state Treasury, with repayments deposited back into the Transportation Trust Fund. The bill directly affects the Palisades Interstate Park Commission, which manages park infrastructure across New Jersey and New York.
Bill status
in committee
1 of 4 stages cleared
Introduction
Nov 2025
Committee Review
Floor Vote
Governor
Introduced Nov 17, 2025
Last action Jan 12, 2026
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Introduced Version
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Reprint ACE 1/5/26 1R
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3 edits
MINOR
The committee amended the bill to convert what was effectively a conditional reimbursement obligation into a full $45 million loan that must be repaid regardless of whether federal funds are received. It also added a statutory framework (P.L.1984, c. 73) governing how Transportation Trust Fund monies may be spent and required that repayment terms be negotiated jointly between the Treasury and the Park Commission.
FISCAL
The repayment obligation was changed from repaying only federal reimbursements actually received to repaying the full $45,000,000 appropriated, regardless of whether any federal reimbursement, grant award, or other financial assistance is received. This converts the appropriation from a conditional pass-through into a mandatory loan.
REQUIREMENT
Added a requirement that expenditures comply with P.L.1984, c. 73 (C.27:1B-1 et al.), the statute governing expenditure of monies in the Transportation Trust Fund Account.
Added a provision that the schedule, terms, and conditions of repayment shall be established jointly by the Department of the Treasury and the Palisades Interstate Park Commission and set forth in the memorandum of understanding.
Floor votes
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No floor votes recorded yet.
Full legislative history
Actions timeline
Total actions
5
Key actions
1
Committee
3
Jan 8, 2026
Lower · Passed
Reported out of Assembly Committee, 2nd Reading
lower
Jan 5, 2026
Committee
Reported out of Assembly Committee with Amendments and Referred to Assembly Appropriations Committee
lower
Jan 5, 2026
Committee
Transferred to Assembly Commerce, Economic Development and Agriculture Committee
lower
Nov 17, 2025
Introduced
Introduced in the Assembly, Referred to Assembly Transportation and Independent Authorities Committee
lower
2 primary · 0 co-sponsors
Sponsors
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