NJ S4733

Appropriates $45,000,000 from the Transportation Trust Fund Account - Subaccount for Capital Reserves to the Palisades Interstate Park Commission for disaster recovery construction projects

Funds are subject to approval by the Director of the Division of Budget and Accounting and must comply with Transportation Trust Fund expenditure requirements under P.L.1984, c.73

Requires a memorandum of understanding between the Commissioner of Environmental Protection, the Executive Director of the Palisades Interstate Park Commission, and other relevant agency heads

The Palisades Interstate Park Commission must repay the full $45,000,000 to the Department of the Treasury, regardless of whether federal reimbursement or grants are received

Repayment terms will be established jointly by the Department of the Treasury and the Commission, with all repayments deposited back into the Transportation Trust Fund Account - Subaccount for Capital Reserves