Insurance & Utility Issues Related to Sandy, Casino Gaming at Meadowlands for 2014 Super Bowl & Innovative Social Impact Bond Top Thursday Assembly Agendas

Fire Safety, Energy Receipt Property Tax Payments Also on Tap

 

(TRENTON) – Insurance issues related to Superstorm Sandy, the state utility industry’s response to the storm and the role higher education played in the planning and response to it highlight Thursday’s Assembly agenda, along with legislation to allow temporary casino gaming at the Meadowlands during the 2014 Super Bowl.

Also on tap is innovative legislation to create a five-year pilot program that allows private entities to fund public policy initiatives through pay-for-success contracts, or social impact bonds.

            The hearings are scheduled to begin at 10 a.m. They will be streamed live at:

            http://www.njleg.state.nj.us/media/live_audio.asp.

The agenda is attached. Highlights include:

·         The Assembly Financial Institutions and Insurance Committee will meet at 10 a.m. to receive testimony on insurance issues facing New Jersey residents in the aftermath of Sandy, including responsiveness to insurance claims submitted and the extent of insurance coverage available to restore homes and businesses. The committee will hear testimony from the Department of Banking and Insurance, organizations involved in providing property and casualty insurance in the state and other invited guests. Members of the public are also welcome to testify.

·         The Assembly Telecommunications and Utilities Committee will meet at 10 a.m. to take testimony from utility industry representatives concerning the utilities’ response efforts to Sandy to date as well as the industry’s ongoing and remaining efforts in the aftermath of the storm.

·         The Assembly Higher Education Committee will meet at 10:30 a.m. to hear from representatives from New Jersey's institutions of higher education to discuss the role of the higher education community in recovery efforts following Sandy.

·         Legislation (A-3266 and ACR-160) to allow temporary casino gaming at the Meadowlands complex for the 2014 Super Bowl will be discussed. The resolution seeks voter approval to amend the state Constitution to allow it. The bill provides for regulation and enforcement. They’re sponsored by Tim Eustace (D-Bergen/Passaic), Ruben J. Ramos Jr. (D-Hudson), Jerry Green (D-Union/Middlesex/Somerset) and Gary Schaer (D-Passaic/Bergen) and will be discussed at 10 a.m. by the Assembly Regulatory Oversight and Gaming Committee.

·         An innovative measure (A-3289) sponsored by Angel Fuentes (D-Camden/Gloucester) and Albert Coutinho (D-Essex) to create a five-year pilot program that allows private entities to fund public policy initiatives through pay-for-success contracts, or social impact bonds. The bill will be heard at 2 p.m. by the Assembly Commerce and Economic Development Committee.

·         A bill (A-1570) sponsored by John Wisniewski (D-Middlesex), Jerry Green (D-Union/Middlesex/Somerset) and Mila Jasey (D-Essex/Morris) to require fire suppression systems in new single- and two-family homes. It will be heard at 2 p.m. by the Assembly Housing and Local Government Committee.

·         Legislation (A-2753) sponsored by Daniel R. Benson and Wayne DeAngelo (both D-Mercer/Middlesex) that would require certain energy tax receipts currently collected by the state be paid directly to municipalities for property tax relief. The intent of the bill is to ensure towns are able to collect the amounts of energy tax receipts that they were originally promised when the state revised the collection and distribution process in 1997. Energy tax receipts are collected from utilities and energy companies. The bill will be heard at 2 p.m. by the Assembly Housing and Local Government Committee.