New Jersey A 1264: Removes plenary retail distribution license limit for certain stores.

Bill Text

A1264 

ASSEMBLY, No. 1264 

STATE OF NEW JERSEY

222nd LEGISLATURE

� 

PRE-FILED FOR INTRODUCTION IN THE 2026 SESSION

Sponsored by:

Assemblyman MICHAEL INGANAMORT

District 24 (Morris, Sussex and Warren)

Co-Sponsored by:

Assemblyman Scharfenberger, Assemblywomen Flynn, Fantasia 
and Assemblyman Peterson

SYNOPSIS

���� "New Jersey Transit Accountability Act"; 
requires independent audit of NJT.

CURRENT VERSION OF TEXT 

���� Introduced Pending Technical Review by Legislative 
Counsel.

��

An Act concerning an independent audit of the New Jersey 
Transit Corporation.

���� Be It 
Enacted by the Senate and General Assembly of 
the State of New Jersey:

���� 1.��� This act shall be known 
and may be cited as the �New Jersey Transit Accountability Act.�

���� 2.��� a. Within 90 days of the 
effective date of P.L.��� , 

c.���� (C.������� ) (pending before the Legislature as this bill), the New 
Jersey Transit Corporation shall hire an independent firm to conduct an audit of 
the financial management practices and budget reporting practices of the 
corporation since the date of the issuance of the report conducted pursuant to 
Executive Order No. 5 of 2018 and prepare and issue a report on the firm�s 
findings, which report shall:

���� (1)� include findings on the 
financial management and budget reporting of the corporation since the date of 
the issuance of the report conducted pursuant to Executive Order No. 5 of 2018;

���� (2)� summarize the impact of 
the coronavirus pandemic (COVID-19) on the demand for the corporation�s 
services and on the financial and practical needs of the corporation to meet 
current and projected long-term demand;

���� (3)� evaluate the 
corporation�s current sources of funding and their adequacy in relation to 
demand for the corporation�s services; and

���� (4)� recommend policies and 
best practices for the corporation to adopt based upon the findings of the 
independent firm, including, but not limited to, recommendations on the 
decision-making process, corporate governance, personnel hiring and protocols, 
and improvement of the customer experience.

���� b.��� The report prepared by 
the independent firm pursuant to this section shall be submitted to the 
Governor and, pursuant to section 2 of P.L.1991, c.164 (C.52:14-19.1), to the 
Legislature.

���� c.��� Within six months of the 
issuance of the report required pursuant to this section, the corporation shall 
adopt any individual policies and best practices recommended in the report 
issued pursuant to this section and in the report issued pursuant to Executive 
Order No. 5 of 2018.

���� d.��� Upon the affirmative 
vote of seven members of the board of directors of the corporation, the 
corporation may opt not to adopt an individual policy or best practice pursuant 
to subsection c. of this section.� If the corporation exercises this option, 
the corporation shall provide a detailed explanation of why adoption of that 
policy or practice is not in the best interest of the corporation within six 
months of the issuance of the report required pursuant to this section.

���� e.��� This section shall not 
affect any existing obligation of the corporation under law to conduct, or hire 
an independent firm to complete, an audit or study, including, but not limited 
to, as required pursuant to section 6 of P.L.2018, c.162 (C.27:25-5.24).

���� 3.��� This act shall take 
effect immediately and shall expire one year after the issuance of the report 
required pursuant to section 2 of this act.

STATEMENT

���� This bill, to be known as the 
�New Jersey Transit Accountability Act,� requires that the New Jersey Transit 
Corporation (corporation) hire an independent firm to conduct an audit of the 
financial management practices and budget reporting practices of the 
corporation since the date of the issuance of the report conducted pursuant to 
Executive Order No. 5 of 2018 and prepare and issue a report on the independent 
firm�s findings and recommendations, which report is to be submitted to the 
Governor and the Legislature.

���� Executive Order No. 5 of 2018 
resulted in the issuance of the Comprehensive Strategic, Financial & 
Operational Assessment of NJ Transit on October 5, 2018.� Among the issues 
identified in the assessment is that, for eight years preceding its publication 
and despite increasing operation and maintenance costs, the corporation had 
been forced to transfer much needed capital funds for capital maintenance due 
to dramatically reduced State Operating Assistance.� Through its requirement of 
an independent audit, this bill is intended to shed light on the financial 
needs and practices of the corporation since the issuance of the 2018 
assessment, including the diversion of capital funds for operations.

���� The report for which the 
corporation is required to hire an independent firm under this bill is to: (1) 
include findings on the financial management and budget reporting practices of 
t