New Jersey lawmakers are ready to reestablish state oversight of Atlantic City through the Municipal Stabilization and Recovery Act. DownBeach Buzz reports the legislation follows the expiration of a previous mandate and aims to grant the state authority over major fiscal decisions and economic development for the next six years.
Originally implemented to address severe financial instability of Atlantic City and a contracting casino market, the oversight is now viewed by Governor Murphy as a successful partnership necessary for continued growth.
The bill’s advancement comes immediately after Mayor Marty Small was cleared of criminal child abuse charges, providing political clarity for the city’s leadership.