NJ S3969

Extends the economic recovery term for qualified municipalities under the Municipal Rehabilitation and Economic Recovery Act from 20 years after the chief operating officer's term ends to remain in effect for the full 20-year period

Requires the mayor to issue an interim report on municipal rehabilitation progress by June 30, 2026, and a final report at the end of the economic recovery term

Maintains the mayor's power during the economic recovery term to veto actions of independent boards and authorities (housing authority, parking authority, planning board, etc.) within 10 days of receiving meeting minutes

Allows the mayor to veto or terminate non-collective bargaining employment contracts during the first 18 months of the economic recovery term

Requires the Director of the Division of Local Government Services to conduct annual compliance audits of qualified municipalities during the economic recovery term and report findings to the Local Finance Board and mayor