11 Dec: Codey Bill To Provide Recession Cushion For Local Govts Approved By Senate Panel

TRENTON – A bill sponsored by Senate President Richard J. Codey (D-Essex) that would give local governments a temporary cushion to help avert tax hikes during the current economic crisis was approved by the Senate Budget and Appropriations Committee today.

“Many local governments are looking down the barrel of a loaded gun right now because revenues have declined so drastically,” said Sen. Codey. “Until we can come up with other solutions or procure additional federal aid, this will help provide immediate assistance to towns and counties.”