New Jersey S154 allows municipalities to finance tree purchase, planting, and removal through long-term debt.
New Jersey S154 amends the "Local Bond Law" to classify the purchase, planting, and removal of trees and shrubbery as a 15-year useful life expense. This change permits local government units to issue 15-year bonds to cover these costs. The bill also amends the "Local Budget Law" to allow local government units to adopt special emergency appropriations for tree-related expenses following natural disasters, enabling them to issue special emergency notes for these purposes.
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- Overview
- Core Provisions
- Implementation
- Impact
- Legal Framework
- Critical Issues
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