ATLANTIC CITY, NJ – Senator Vince Polistina announced plans to introduce legislation extending state oversight of Atlantic City for another ten years under the Municipal Stabilization and Recovery Act.
The law, first enacted in 2016 and renewed in 2021, is scheduled to expire in December.
Polistina said the measure has been critical in helping the city stabilize its finances and manage operations through the New Jersey Department of Community Affairs.
Key Points
- Senator Polistina plans to extend the Municipal Stabilization and Recovery Act for ten more years
- The law gives the state authority over Atlantic City’s fiscal and operational management
- Additional bills aim to restore CRDA funding and reform casino-related revenue programs
Legislation aims to maintain fiscal stability and oversight
Working with the Office of Legislative Services, Polistina is drafting the proposal to renew the state’s oversight authority through 2035. He said continued state involvement is vital as Atlantic City faces mounting competition from new gaming markets in New York and the ongoing debate over expanding gambling in North Jersey.
“Since 2016, the State of New Jersey has been an active partner with the City in managing its operations and addressing significant debt issues,” Polistina said. “It’s more important than ever that the State and City continue working together for the benefit of all residents.”
Companion bills target CRDA funding and redevelopment
Polistina also introduced two bills to allow the Casino Reinvestment Development Authority to retain more casino-generated revenue for reinvestment in local projects. The legislation would direct those funds toward redevelopment efforts, supporting both gaming and non-gaming businesses.
He said restoring CRDA funding, extending the MSRA, and restructuring the casino PILOT program are key to ensuring Atlantic City’s long-term growth and stability.
