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Foreclosure Scheme, RGGI, Transparency & Budget Speech

February 21, 2014 J,

AFP testified yesterday before the Assembly Housing and Community Development Committee against the “New Jersey Residential Foreclosure Act” (Bill A470). This bill would authorize the State of New Jersey to borrow tens of billions of dollars for the purpose of purchasing homes in foreclosure and bailing out institutional lenders. Even worse, the bill contains an outrageous provision to allow ex-cons, sex offenders, and drug addicts to be placed in the homes once in state control.

A470 passed along party lines 4-2. YES votes: Asm. Jerry Green (D-22) – Chair, Asw. Mila Jasey (D-27) – Vice-Chair, Asm. Angel Fuentes (D-05), Asm. Jason O’Donnell (D-31). NO votes: Asw. Maria Rodriguez-Gregg (R-08), Asm. Robert Clifton (R-12). Next step for the foreclosure bill is a vote before the full Assembly. To date, no senate companion bill has been introduced.

For background on AFP’s opposition to this bill, please read our alert from earlier this week. CLICK HERE to listen AFP’s testimony (beginning at the 9:25 mark).

Monday, February 24

The Assembly Environment & Solid Waste Committee will take up a resolution urging the state’s re-entry into the RGGI Cap & trade scheme and re-imposition of this job-destroying electricity tax (AR48). Primary sponsors: Asm. Chivukula (D-17), McKeon (D-27), Gusciora (D-15) and Asw. Mosquera (D-04).

The Assembly Budget Committee will take up Bill A103,  “Transparency in Government Act”. AFP supports this proposal to have all revenue, expenditure and public indebtedness posted on the Internet and made easily accessible to citizens. Primary sponsors: Asw. Alison McHose (R-24) and Asm. Jay Webber (R-26) along 10 Republican co-sponsors.

Tuesday, February 25

Gov. Christie is scheduled to deliver his budget speech outlining his spending priorities for FY 2015.

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