Requires retention of funds collected by Department of Banking and Insurance and certain professional boards.
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Progress
Where this bill stands in the legislative process.
- Introduced
- Passed Senate
- Passed General Assembly
- To Governor
- Became Law
Overview
This bill requires the Department of Banking and Insurance and certain professional boards in New Jersey to retain funds collected through license fees and other sources. Specifically, it amends existing statutes to allow these entities to hold onto these funds, rather than depositing them into the state treasury. The retained funds can then be used to cover expenses related to enforcement, examinations, and other operational costs. The bill takes effect immediately.
Bill text
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Document of record
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Sponsors
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2 on record
Primary sponsors
Joseph Cryan
Robert Singer
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