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August 24, 2011

RE:  BILLS SIGNED INTO LAW
I.    CREDIT UNIONS AUTHORIZED AS PUBLIC DEPOSITORIES
II.   THE “ANTI-SNOW DUMPING ACT”
III.  SUSPENSION OF 2.5% NON-RESIDENTIAL DEVELOPMENT FEE          

Dear Mayor:

On August 18th, Governor Christie signed into law the following bills:

I.        CREDIT UNIONS AUTHORIZED AS PUBLIC DEPOSITORIES

S-1807 amends the New Jersey Governmental Unit Deposit Protection Act (GUDPA) to include credit unions in the definition of public depository. As such, these institutions are now eligible to receive and hold deposits from New Jersey local governments.  Credit Unions’ deposits are insured to the same equivalent level of the Federal Deposit Insurance Corporation (FDIC) by the National Credit Union Administration (NCUA).

P.L. 2011, c. 108 took effective immediately.

II.      THE “ANTI-SNOW DUMPING ACT”

S-1924 prohibits commercial snowplow operators, or the operators of any other snow removal equipment clearing snow on private property, from depositing any snow on any public road, street, or highway in this State or on public lands. A commercial operator who violates the law shall be subject to a $250 fine for the first offense and $500 for each subsequent offense.

P.L. 2011, c. 110 took effective immediately.

III.     SUSPENSION OF 2.5% NON-RESIDENTIAL DEVELOPMENT FEE

Today, the Lieutenant Governor, currently serving as Acting Governor, signed into law S-2974/A-4221.  This legislation suspends the 2.5% fee on non-residential development for a total period of 36 months, retroactive to July 1, 2011.

This legislation does the following:

  1. Suspends 2.5% fee on non-residential development for approximately 36 months, retroactive to July 1, 2010 through July 1, 2013.
  2. Suspends the housing obligation generated by non-residential development in the same manner, so that a municipality is not left with an unfunded housing obligation. 
  3. Allows for reimbursement to the developer, unless the municipality has expended the dollars.   Municipalities eligible to collect the fee would not be required to refund monies that have been spent on affordable housing.  In this case, the developer would need to submit a claim for a refund within 120 days of the effective date of the Act. 

For more on this legislation, please see the Dear Mayor letter of June 28.   

If you have any questions or need additional information please contact Jon Moran, Mike Cerra or Lori Buckelew at 609-695-3481.

Very truly yours,

 

William G. Dressel, Jr.
Executive Director

 

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