New Jersey § 32:36-5

having an identical effect to L.2019, c. 195, § 5 . > Board of commissioners. a. The Commission shall consist of seven commissioners: three from the state of New

York, three from the state of New Jersey, and one directly appointed by Amtrak. The commissioner appointed by Amtrak shall serve to represent Amtrak's interest,

as owner-operator or user of the Northeast Corridor, in the work to be undertaken

by the Commission. The New York commissioners shall be appointed by the state of New York and the New

Jersey commissioners shall be appointed by the state of New Jersey in the manner determined

pursuant to the laws of each respective state. Any commissioner appointed to the board shall have experience in one or more of

the following areas: transportation, public administration, business management,

finance, accounting, law, engineering, land use, urban and regional planning, management

of large capital projects, labor relations, or have experience in some other area

of activity central to the mission of the Commission. b. The term of each commissioner shall be three years. Each commissioner may be reappointed pursuant to the laws of the state from which

the commissioner is appointed or, for the Amtrak appointee, pursuant to any rule or

policy adopted by Amtrak. A commissioner may automatically continue to serve following the expiration of that

commissioner's term until a successor is appointed and seated unless such action is

prohibited by the laws of each respective state or, for the Amtrak appointee, any

rule or policy adopted by Amtrak. c. The governor of New York, governor of New Jersey, and Amtrak may remove a commissioner

appointed by such office or entity for inefficiency, neglect of duty, or misconduct

in office after giving him or her a copy of the charges against him or her and an

opportunity to be heard, in person or by counsel in his or her defense, upon not less

than ten days' notice. d. At the conclusion of a commissioner's term, the commissioner may be reappointed

for a successive three-year term at the pleasure of the party who originally appointed

that commissioner. e. In the event that a commissioner ceases to serve before the stated expiration of

the commissioner's term, the party that originally appointed the commissioner may

appoint a replacement to serve out the remainder of the replaced commissioner's term

and thereafter, the vacancy shall be filled as provided for in subsection a. of this

section. f. Commissioners shall serve without compensation, but the Commission may, within

the limits of funds appropriated or otherwise made available to it, reimburse commissioners

for actual expenses necessarily incurred in the discharge of their official duties. g. The commissioners from the state of New Jersey and the commissioners from the state

of New York shall be indemnified by the state of New Jersey and the state of New York,

respectively, to the same extent as such state indemnifies a public officer for any

claim or judgment arising out of such public officer's official duties. h. No commissioner, including a co-chairperson, shall serve as any other officer or

employee of the Commission while serving as a commissioner. i. Oath of Office. The commissioners shall promulgate a commissioner's oath of office in consultation

with the chief ethics and compliance officer within ninety days of the effective date

of this act. Each commissioner and officer shall also, before entering upon the duties of his

or her office, take and subscribe the constitutional oath of office, consistent with

the constitutions of both states where practicable, which shall be promulgated within

ninety days of the effective date of this act. The oaths of office shall be filed in the office of the Commission within ninety

days of such commissioner or officer taking office or ninety days after any such oath

of office is promulgated if such promulgation has not occurred. j. Commissioner Statement. At the time that a commissioner takes and subscribes the commissioner's oath of

office, the commissioner shall execute a statement declaring that the commissioner

understands the commissioner's independence and fiduciary obligation to perform duties

and responsibilities to the best of the commissioner's abilities, in good faith and

with proper diligence and care which an ordinarily prudent person in like position

would use under similar circumstances and may take into consideration the views and

policies of any elected officials or bodies and ultimately apply independent judgment

in the best interest of the Commission, its mission, and the public, consistent with

this enabling statute, mission, and by-laws of the Commission; and that the fiduciary

duty to the Commission is derived from and governed by its mission. k. Board Training. Individuals appointed to the board shall participate in training approved by the

chief ethics and compliance officer regarding their legal, fiduciary, financial and

ethical responsibilities as commissioners of the Commission within six months of appointment

to the Commission. The commissioners shall participate in continuing training as may be required to

remain informed of best practices, regulatory and statutory changes relating to the

effective oversight of the management and financial activities of commissions or public

authorities and adhere to the highest standards of responsible governance. l . Recusals. (1) A commissioner shall not vote on or participate in any board or committee discussions

or decisions with respect to an item if the commissioner, a member of the commissioner's

immediate family, or a business in which the commissioner has an interest, has a direct

or indirect financial involvement that may reasonably be expected to impair the commissioner's

objectivity or independent judgement or that may reasonably create the appearance

of impropriety. A commissioner shall report such a need for recusal to the general counsel when

it arises. The public shall be informed of any recusals prior to any board action and the minutes

shall clearly reflect that recusal. (2) For the purposes of this paragraph: “ Immediate family ” means a spouse, parent, child, or sibling. “ Interest ” means: if the business organization is a partnership, the commissioner's immediate

family is a partner or owner of ten percent or more of the assets of the partnership;

or if the business organization is a corporation, the commissioner's immediate family

owns or controls ten percent or more of the stock of the corporation, or serves as

a director or officer of the corporation. m. Financial Disclosure. (1) Notwithstanding any provision of law to the contrary, the commissioners, officers,

and employees of the Commission shall file annual financial disclosure statements

as provided in this paragraph. (2)(a) The commissioners appointed by the state of New York pursuant to this act shall

file annual financial disclosure statements pursuant to section 73-a of the public

officers law. (b) The commissioners appointed by the state of New Jersey shall file annual financial

disclosure statements as required by New Jersey state law or executive order. (c) The commissioners appointed by Amtrak shall file annual financial disclosure statements

consistent with laws, rules, regulations, and policies associated with filings of

financial disclosures by Amtrak employees and officers. (d) Financial disclosures of officers and employees shall, at a minimum, be required

of officers and employees who hold policy-making positions as determined by the commission,

and officers and employees whose base salary, either in the current or previous year,

exceeds $150,000, which shall be adjusted for inflation annually in accordance with

the consumer price index for all urban wage earners and clerical workers (CPI-W) as

calculated by the federal government.