New Jersey § 52:27bbb-2

§ 52:27bbb-2.

The Legislature finds and declares: a. The “Municipal Rehabilitation and Economic Recovery Act,” P.L.2002, c. 43 ( C.52:27BBB-1 et al.), provides for the appointment of a chief operating officer in a qualified

municipality for a five-year period, referred to in that law as the rehabilitation

term; b. As of the effective date of P.L.2007, c.176 ( C.52:27BBB-2.2 et al.), that 2002 act has been implemented in one municipality in the State; c. The fourth-year report of the chief operating officer appointed in that municipality,

required pursuant to section 8 of P.L.2002, c. 43 ( C.52:27BBB-8 ), recommended an extension of the rehabilitation term to allow for the implementation

of the reforms anticipated by P.L.2002, c. 43 ; and d. Given the detailed assessment and recommendation in that fourth-year report, it

is apparent that under certain circumstances a 10-year rehabilitation term is a more

realistic period within which government reform may be effectuated in a qualified

municipality.