Bill Text: NJ A3137 | 2014-2015 | Regular Session | Introduced
Bill Title: Requires PANYNJ to conduct cost-benefit analysis and provide analysis to governors and legislatures of NY and NJ prior to approving certain projects.
Sponsorship: Bipartisan Bill
Status: (Introduced - Dead) 2014-05-15 - Introduced, Referred to Assembly Transportation and Independent Authorities Committee [A3137 Detail]
Download: New_Jersey-2014-A3137-Introduced.html
Sponsored by:
Assemblywoman AMY H. HANDLIN
District 13 (Monmouth)
SYNOPSIS
Requires PANYNJ to conduct cost-benefit analysis and provide analysis to governors and legislatures of NY and NJ prior to approving certain projects.
CURRENT VERSION OF TEXT
As introduced.
An Act concerning certain Port Authority of New York and New Jersey projects and supplementing Title 32 of the Revised Statutes.
Be It Enacted by the Senate and General Assembly of the State of New Jersey:
1. a. For the purposes of this section, "project" means any undertaking or program for the acquisition or creation of any crossing, transportation facility or terminal facility, or commerce facility or development, or any part thereof, as well as for the operation, maintenance, and improvement thereof.
b. The Port Authority shall conduct a cost-benefit analysis for each proposed project with an estimated cost in excess of $100,000. The cost-benefit analysis shall include, but not be limited to: the reason for the project; a list of project alternatives; the anticipated economic benefits of the project, including any expected job creation benefits; and the anticipated direct and indirect costs of the project to all stakeholders.
c. The Executive Director of the Port Authority and Chairman of the Board of Commissioners of the Port Authority shall execute a written certification that each proposed project with an estimated cost in excess of $100,000 is in compliance with the Port Authority's core mission.
d. At least 30 days prior to any vote by the Board of Commissioners of the Port Authority of New York and New Jersey to authorize any project with an estimated cost in excess of $100,000, the Port Authority shall submit the cost-benefit analysis prepared for the project and the written certification that the project is in compliance with the Port Authority's core mission to: the Governors of New York and New Jersey; the President of the Senate, the Speaker of the Assembly, and the Minority Leaders of the Senate and Assembly of the Legislature of the State of New York; and the President of the Senate, the Speaker of the General Assembly, and the Minority Leaders of the Senate and the General Assembly of the State of New Jersey.
2. This act shall take effect upon the enactment into law by the State of New York of legislation having an identical effect with this act, but if the State of New York has already enacted such legislation, this act shall take effect immediately.
STATEMENT
This bill requires the Port Authority of New York and New Jersey (Port Authority) to submit to the Governors and Legislatures of New York and New Jersey a cost-benefit analysis at least 30 days before it votes to approve any Port Authority project with an estimated cost in excess of $100,000. The cost-benefit analysis is to include, but not be limited to: the reason for the project; a list of project alternatives; the anticipated economic benefits of the project including any expected job creation benefits; and the anticipated direct and indirect costs of the project to all stakeholders. The Port Authority is also to submit to the Governors and the Legislatures a certification that the proposed project is in compliance with the Port Authority's core mission.
The enactment by New York of substantially similar legislation is required before the bill's provisions would become effective.
