Bill Text: NJ A4202 | 2012-2013 | Regular Session | Introduced

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Bill Title: Appropriates $715,706,303 from the "Building Our Future Bond Act" to the Office of the Secretary of Higher Education for public and private institutions of higher education.

Spectrum: Partisan Bill (Democrat 4-0)

Status: (Introduced - Dead) 2013-06-27 - Substituted by S2884 [A4202 Detail]

Download: New_Jersey-2012-A4202-Introduced.html

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ASSEMBLY, No. 4202

STATE OF NEW JERSEY

215th LEGISLATURE

INTRODUCED JUNE 20, 2013

 

 

Sponsored by:

Assemblywoman  CELESTE M. RILEY

District 3 (Cumberland, Gloucester and Salem)

Assemblyman  THOMAS P. GIBLIN

District 34 (Essex and Passaic)

 

 

 

 

SYNOPSIS

     Appropriates $715,706,303 from the "Building Our Future Bond Act" to the Office of the Secretary of Higher Education for public and private institutions of higher education.

 

CURRENT VERSION OF TEXT

     As introduced.

 

An Act appropriating $715,706,303 from the "Building Our Future Bond Act," P.L.2012, c.41, for the purpose of capital project grants for New Jersey's public and private institutions of higher education.

 

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

 

     1.    There is appropriated to  the Office of the Secretary of Higher Education in the Department of State from the "Building Our Future Fund," established pursuant to section 14 of the "Building Our Future Bond Act," P.L.2012, c.41, the sum of $715,706,303 for the purpose of capital project grants for increasing academic capacity at New Jersey's public and private institutions of higher education.  This sum shall be allocated to institutions of higher education according to the list of eligible projects submitted by the Secretary of Higher Education on April 29, 2013 to the presiding officers of each House of the Legislature pursuant to the provisions of the "Building Our Future Bond Act," P.L.2012, c.41.

 

     2.    The expenditure of sums appropriated by this act are subject to the provisions and conditions of P.L.2012, c.41.

 

     3.    This act shall take effect immediately.

 

 

STATEMENT

 

     This bill appropriates $715,706,303 to the Office of the Secretary of Higher Education in the Department of State from the "Building Our Future Fund" established pursuant to the "Building Our Future Bond Act," P.L.2012, c.41.  These funds are for the purpose of capital project grants to increase academic capacity at New Jersey's public and private institutions of higher education.

     The "Building Our Future Bond Act" authorized a $750,000,000 bond issue.  Enactment of this bill would represent the initial appropriation of bond funds to the Office of the Secretary of Higher Education for the State's public and private institutions of higher education.