Zona de Azar USA – New Jersey: Governor Extends State’s Atlantic City Takeover

USA.- June 28, 2021 www.zonadeazar.com  Atlantic City will remain under state control for another four years now that New Jersey Gov. Phil Murphy has signed a bill extending the takeover of most of the city’s major decision-making power.

The state will have been in charge of most of Atlantic City’s decisions for nine years at the end of the current measure.

The government takeover was proposed by former Gov. Chris Christie, a Republican, and enacted in the Democrat-controlled state Legislature in 2016.
It was designed to help the state reign in runaway expenses, high taxes, and poor governance in the seaside gambling resort that, despite the presence of the casino industry, had enduring financial woes. Appeals from the casinos successfully challenging their tax assessments blew large holes in the city’s budget.

The city’s financial situation has improved since the takeover began, and Wall Street ratings firms have upgraded the city’s fiscal outlook.

State control had been set to end this year.

Edited by: @_fonta  www.zonadeazar.com