Bill
A 5546
The bill expands the Capital City Redevelopment Corporation’s power to directly issue loans and grants for district projects and allows flexible recovery terms.
Note about documents: the bill information you supplied names A5546 as about “release of patient records by the office of mental health,” but the legislative text and related documents you provided are for A5546 as introduced and amended in 2025 concerning the Capital City Redevelopment Corporation (CCRC). The summary below describes the CCRC bill reflected in the supplied documents (approved as P.L.2025, c.114).
Bill number and status
- Assembly Bill A5546 (reprint AAP 6/19/25). Passed both houses and enacted as P.L.2025, c.114 (approved 2025-07-22).
- Reported and amended by Assembly State & Local Government and Assembly Appropriations Committees (June 2025).
Purpose / intent
- To update and broaden the Capital City Redevelopment Corporation’s (CCRC) financial powers and clarify the permitted composition and use of the Capital City Redevelopment Loan and Grant Fund, enabling the CCRC to more flexibly finance redevelopment within the Capital City District.
Key provisions and changes
- Authorizes the CCRC to directly issue loans and grants to projects within the Capital City District (committee amendment clarified that loans, in addition to grants, are authorized).
- Amends the CCRC’s statutory “general powers” (P.L.1987, c.58 / C.52:9Q-13) to explicitly permit direct loan and grant authority for district projects.
- Revises statutory language governing the Capital City Redevelopment Loan and Grant Fund so that:
- The fund continues to include monies repaid under loan agreements and income/interest from fund investments.
- The prior broad authorization allowing “any monies made available to the corporation from any source” to be included in the fund is narrowed/removed (technical changes to permitted monies).
- Removes the existing statutory requirement that at least 65% of monies appropriated to the fund be recovered (repaid) and instead allows the CCRC discretion to determine appropriate recovery/repayment levels on a per-project or per-program basis.
Who is affected
- Capital City Redevelopment Corporation — gains broader discretion to provide direct grant and loan financing and to set recovery terms.
- Developers, local redevelopment projects, and municipal partners within the Capital City District — potentially increased access to grants/loans from the CCRC.
- State finances — potential fiscal effects described below.
Fiscal and practical impact
- Office of Legislative Services (fiscal note dated June 27, 2025) finds impacts indeterminate:
- Potential increase in State expenditures if the CCRC issues more or larger loans/grants using expanded authority.
- Potential decrease in State revenue (or revolving fund receipts) if the CCRC sets recovery rates lower than the prior 65% requirement.
- As of 12/31/2024, the CCRC reported about $12.86 million in available operating/project accounts (context for scale).
- The bill grants operational flexibility to the CCRC but reduces statutory constraints intended to preserve revolving funds through repayment.
Procedure / timeline highlights
- Introduced in Assembly (April 10, 2025); committee reports and amendments in June 2025; passed Assembly and Senate late June 2025; enacted as P.L.2025, c.114 on July 22, 2025.
Sponsors (per bill text/version)
- Sponsored in current reprint by Assemblyman Anthony S. Verrelli and Assemblywoman Verlina Reynolds-Jackson; Senate sponsor noted as Senator Shirley K. Turner. (Committee and legislative histories list additional cosponsors.)
Compiled from official sources — confirm details with the bill’s official record.
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