Bill Text: NJ A3736 | 2010-2011 | Regular Session | Introduced
Bill Title: Directs NJTA to reduce tolls no longer required for payment of Access to the Region's Core Tunnel project.
Spectrum: Strong Partisan Bill (Democrat 18-1)
Status: (Introduced - Dead) 2011-01-11 - Introduced, Referred to Assembly Transportation, Public Works and Independent Authorities Committee [A3736 Detail]
Download: New_Jersey-2010-A3736-Introduced.html
Sponsored by:
Assemblyman JOHN S. WISNIEWSKI
District 19 (Middlesex)
Assemblyman VINCENT PRIETO
District 32 (Bergen and Hudson)
SYNOPSIS
Directs NJTA to reduce tolls no longer required for payment of Access to the Region's Core Tunnel project.
CURRENT VERSION OF TEXT
As introduced.
An Act concerning the collection of tolls by the New Jersey Turnpike Authority and supplementing P.L.1948, c.454 (C.27:23-1 et seq.).
Be It Enacted by the Senate and General Assembly of the State of New Jersey:
1. Notwithstanding any law, rule, or regulation to the contrary, whenever the authority has exercised its powers and by resolution fixed and charged and collected an increase in tolls for the financing or payment of a contribution of $1.25 billion to fund a mass transit tunnel project between the states of New Jersey and New York and such project has been canceled or terminated in any capacity after the authorized collection of tolls has commenced, the authority shall thereafter adopt an appropriate resolution or take such other action as may be necessary to immediately reduce or effectuate a reduction in the tolls charged and collected by the authority to reflect the discharge of its obligation to contribute towards the financing or payment of a contribution to fund that mass transit project.
2. This act shall take effect immediately.
STATEMENT
This bill directs the New Jersey Turnpike Authority ("authority") to adopt an appropriate resolution or take such other action as may be necessary to immediately reduce or effectuate a reduction in the tolls charged and collected by the authority, the cumulative total of $1.25 billion to be collected over time, that is no longer required for the financing or payment of the canceled mass transit tunnel project between the States of New Jersey and New York.
In 2008, the authority approved a two-phase toll increase on the New Jersey Turnpike and the Garden State Parkway, the first toll increase occurring in 2008 and the second toll increase to occur in 2012, to fund a $7 billion, ten-year capital plan and a $1.25 billion contribution to the Transportation Trust Fund Authority for the Access to the Region's Core (ARC) Tunnel project.
The ARC Tunnel project was described as essential to relieving congestion on the New Jersey Turnpike. In the authority's determination, the project served its needs by preserving vital capacity on the Eastern and Western spurs of the New Jersey Turnpike in keeping with its fiduciary obligation to fund critical safety and congestion relief projects.
In October 2010, Governor Christie announced his decision to terminate the ARC Tunnel project as a project of the Transportation Trust Fund Authority. The toll increase authorized and collected by the authority for the financing or payment of the ARC Tunnel is no longer required, and accordingly, the authority is directed to immediately reduce tolls increased for this purpose.
