Legislation sponsored by Senate Republican Leader Tom Kean that increases the funding for the “Shore Protection Fund” from $25 million to $50 million has been advanced by the Senate Environment and Energy Committee.
Legislation sponsored by Sen. Tom Kean that increases the funding for the “Shore Protection Fund” has been advanced by the Senate Environment and Energy Committee. (Bing Maps)
“All of our shore communities and their local economies depend on us preserving our valuable coastline,” said Kean (R-21). “By doubling the amount of money that goes to the ’Shore Protection Fund,’ we will ensure that homes, small businesses, beaches, and boardwalks are properly maintained and protected from environmental factors such as erosion and sea-level rise.”
The bill, S-1071, increases from $25 million to $50 million the amount that is annually credited to the “Shore Protection Fund” from the collection of realty transfer fees (RTFs).
The “Shore Protection Fund” helps counties and municipalities finance projects aimed at protecting public and private property and infrastructure from coastal storm damage, erosion and shoreline migration, and sea-level rise.
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