NJ S3500

Reduces the maximum allowable fund diversion from stormwater, water, and sewer utilities to municipal and county budgets from 5% to 3% of annual operating costs.

Maintains the existing 5% diversion cap for other local authorities not related to water, sewer, or stormwater services.

Requires municipalities and counties to provide written notice to the Division of Local Government Services in the Department of Community Affairs whenever they transfer or appropriate funds from these utilities or authorities.

Amends P.L.1983, c.111 and P.L.2004, c.87 governing local government fiscal controls and utility fund transfers.