Extends economic recovery term under "Municipal Rehabilitation and Economic Recovery Act."

This bill extends the "economic recovery term" under New Jersey's Municipal Rehabilitation and Economic Recovery Act (MRERA) from 15 to 20 years for qualified municipalities. The economic recovery term is the period following the chief operating officer's term during which special governance procedures and economic benefits remain in place. This extension directly affects municipalities that have been under financial distress, such as the City of Camden, which is specifically cited as needing additional time to achieve fiscal stability. The bill maintains the special oversight measures and economic incentives established under MRERA during this extended period to support municipal financial rehabilitation.