Extending the Permit Extension Act?
New legislation from Assembly Republican Conference Leader Dave Rible (R-30) would extend the Permit Extension Act of 2012 for another 2 years.
The current Act - which allows developers to avoid halting projects while reapplying for lapsed permits - is set to expire at the end of this year. Shore Senator Robert Singer (D-30) says allowing that to happen would be a major blow to the economy for both the state as a whole and for Ocean and Monmouth Counties in particular.
"If you let this die, there will be thousands of units not built, many builders would find themselves in financial ruin from it," said Singer.
Singer says construction is a very important industry at the Shore, especially since Superstorm Sandy. And Singer says it's not just big companies that rely on those dollars.
"Many builders are small business people that employe people that create the jobs as well as create the spending in the area that's so important to all of us," Singer said.
Assemblyman Rible says his bill is needed because the original extension did not boost job creation as much as anticipated.