New Jersey S 3249: Amends lists of projects eligible to receive loans for environmental infrastructure projects from NJ Infrastructure Bank for FY2023.

Bill Text

S3249 

SENATE, No. 3249 

STATE OF NEW JERSEY

222nd LEGISLATURE

� 

INTRODUCED FEBRUARY 2, 2026

Sponsored by:

Senator� SHIRLEY K. TURNER

District 15 (Hunterdon and Mercer)

Co-Sponsored by:

Senator Burgess

SYNOPSIS

���� Authorizes establishment of charter school payment 
reserve account in school districts. 

CURRENT VERSION OF TEXT 

���� As introduced.

�� 

An Act authorizing the establishment of a charter school 
payment reserve account in school districts and amending P.L.2007, c.62.

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

���� 1.��� Section 6 of P.L.2007, 
c.62 (C.18A:7F-41) is amended to read as follows:

���� 6.��� Notwithstanding the 
provisions of any law or regulation to the contrary: 

���� a.���� A board of education or 
board of school estimate, as appropriate, may supplement a capital reserve 
account through a transfer by board resolution at year end of any unanticipated 
revenue or unexpended line-item appropriation amounts, or both, for withdrawal 
in subsequent school years.

���� b.��� A board of education or 
board of school estimate, as appropriate, may supplement a maintenance reserve 
account through a transfer by board resolution at year end of any unanticipated 
revenue or unexpended line-item appropriation amounts, or both, for withdrawal 
in subsequent school years.� 

���� c.���� A board of education or 
a board of school estimate, as appropriate, may through the adoption of a board 
resolution establish the following reserve accounts:

���� (1)�� Current expense 
emergency reserve account.� The funds in the reserve shall be used to finance 
unanticipated general fund current expense costs required for a thorough and 
efficient education, or to finance school security improvements, including 
improvements to school facilities.� The account shall not exceed $250,000 or 
one percent of the district's general fund budget up to a maximum of 
$1,000,000, whichever is greater.� A board of education may appropriate funds 
to establish or supplement the reserve in the district's annual budget or 
through a transfer by board resolution at year end of any unanticipated revenue 
and unexpended line-item appropriation amounts. Withdrawals from the reserve 
may be made at any time and shall require the approval of the commissioner 
unless the withdrawal is necessary to meet an increase in total health care 
costs in excess of four percent, or the withdrawal is included in the original 
budget certified for taxes to finance school security improvements, including 
improvements to school facilities.

���� As used in this paragraph, 
"school security improvements" means school security improvements, 
including improvements to school facilities, which are limited to safety and 
security measures involving building monitoring and communication technology 
designed to address school crime and the safety of students, staff, and 
visitors to school facilities. School security improvements may include, but 
need not be limited to: security cameras to monitor the school; an electronic 
notification system that automatically notifies parents in case of a 
school-wide emergency; an automatic door locking system for access control; and 
a badge system for school employees.

���� (2)�� Debt service reserve 
account in the debt service fund for proceeds from the sale of district 
property.� The funds in the reserve shall be used to retire outstanding debt 
service obligations of the district. The reserve shall be liquidated within the 
lesser of five years from its inception or the remaining term on the 
obligations. Any remaining balance shall be used for tax relief.

���� (3)�� Federal impact aid 
reserve account in the case of a school district that receives federal impact 
aid pursuant to section 8002, 8003, 8007, or 8008 of the Elementary and 
Secondary Education Act of 1965 (20 U.S.C. s.7702, 7703, 7707, or 7708).� A 
board of education may appropriate federal impact aid funds to establish or 
supplement the reserve account in the district's annual budget, or through a 
transfer by a two-thirds affirmative vote of the authorized membership of the 
board between June 1 and June 30, for withdrawal in any subsequent school 
year.� Any transfer to the reserve account shall not exceed the total amount of 
federal impact aid received in the fiscal year.� The board, at its discretion, 
may use the funds in the reserve account to finance the district's general fund 
or to finance school facilities projects, in a manner consistent with federal 
law.� The total amount of funds on deposit in the reserve account shall not be 
limited.

���� (4)�� Charter school 
payment reserve account.� In the case of a school district that has received 
authorization to budget an amount for charter school payments for the school 
year that is less than the projected payment determined by the department, the 
funds in the reserve account shall be used to finance any increas