Late last month, Governor Christie signed into law Assembly bill 3424, which extended the two percent cap on binding interest arbitration awards. I was present when Governor Christie inked his name to this bill, extending the cap through December 31, 2017.
The law which originally set the two percent cap was enacted back in 2010 when the Governor joined with legislative leaders to implement these important reforms to a segment of the government system that desperately needed revamping. Historically, it was a system that had often run amok, awarding benefits to the public unions in question without regard for the town or county’s ability to pay for such benefits.
The 2010 law was historic and vital—and temporary. The original law included a Sunset clause, which allowed the law and its terms to expire as of April 1, 2014 if no action was taken by the legislature to extend it.Click here for reuse options!
Copyright 2014 MoreMonmouthMusings Posted: July 17th, 2014 | Author: admin | Filed under: Gary Rich, Monmouth County, Opinion | Tags: Freeholder Gary Rich, Gary Rich, Monmouth County, Opinion, Sunset Provisions | Comments Off on Sunset Provisions: Keeping Laws Relevant