Bill giving municipalities more options to purchase firefighting equipment signed into law

NEW JERSEY – A bill giving municipalities more options to purchase firefighting equipment has been signed into law.

“The signing of this legislation will help provide our first responders with the necessary tools that keep our communities safe,” said Bucco (R-25). “Multiple years of high inflation have made it difficult for municipalities to finance the purchase of fire engines and other expensive safety vehicles and equipment. Municipalities will now have greater flexibility to finance large purchases by utilizing longer repayment periods and smaller annual payments. This will result in a direct benefit to the taxpayer.”

Key components of A-5567/S-3807 include:

• Amending the Local Bond Law to extend the period of usefulness of newly purchases fire engines, apparatus, and equipment from 10- to 20 years.
• Clarifying that the period of usefulness for vehicles with a gross vehicle weight rating (GVWR) below 15,000 pounds will remain at five years, consistent with current law.
• Removing an exclusion for passenger cars and station wagons, that are not powered by alternative fuel sources, by establishing a five-year period of usefulness when purchased as a new vehicle.
• Expanding coverage to encompass larger public work vehicles and heavy construction equipment for major repairs and enhancements to extend their period of usefulness by at least five years.