Concerns Municipal Stabilization and Recovery Act; extends for six years.*

S 4845 extends New Jersey's Municipal Stabilization and Recovery Act (P.L.2016, c.4) for five years, affecting financially struggling municipalities designated under the law. It updates key deadlines, changing the recovery plan timeframe from nine to fourteen years and extending oversight until the 169th month (from 109th) after a municipality is deemed in need of stabilization. The bill maintains the existing framework where municipalities must submit recovery plans to the state commissioner for approval, with continued oversight if plans fail to achieve financial stability. This extension preserves the current process for managing municipal fiscal distress without creating new requirements.