Your Legislators: VanderValk Sponsors Bill to Change School Funding Formula

Assemblywoman Charlotte Vandervalk has sponsored legislation, A-235,
that if approved would change the current school funding formula from
the current property assessment values to a per pupil basis.
“I have been pushing to get this legislation passed for years,” said
Vandervalk. “But successive Democrat-controlled Legislatures have
refused to debate the issue because certain school districts in the
state benefit from the inequity in the current formula. In order to
enact true reform, we must change our school funding formula. I am
very glad that Assemblyman Schroeder agrees and that he will be
signing onto the bill as a co-sponsor.”

“I am very pleased that school districts in suburban areas will be
receiving additional state funding,” stated Schroeder. “In the 39th
District, this will help to offset some of the challenges our school
officials were faced with last year. While this is good news, we
cannot lose sight of the fact that steps still need to be taken
towards changing the state’s school funding formula. We will continue
to advocate for change and to bring Bergen County its fair share in
school aid.”

Vandervalk and Schroeder said they will continue to push for a
committee hearing on the bill.

***

New legislation sponsored by Assembly Republican members Robert
Schroeder (District 39), Denise Coyle (District 16), and Nancy F.
Muñoz (District 21) that will allow the formation of captive insurance
companies has been signed into law by Governor Chris Christie.

“Part of Governor Christie’s plan to grow our economy includes
changing the structure of some departments to entice businesses to
relocate here,” stated Schroeder. “Since captive insurers are an
economic driver, this new law fits nicely into that plan as it will
benefit both corporations and workers.”

The bill, A-2360, permits a captive insurance company to be licensed
by the Department of Banking and Insurance (DOBI) to do business in
New Jersey in the lines of insurance, including contracts or policies
of life insurance, health insurance, annuities, indemnity, property
and casualty, fidelity, surety, guaranty and title insurance, and
reinsurance. Captive insurers are not permitted to cover private
passenger automobile and homeowners’ insurance.

A captive insurance company insures the risks of its parent company
through which corporations can protect themselves financially while
maintaining more control over how they are insured.

The primary goal is to retain the profit that would have been made by
an outside third-party insurance company. The bill provides for the
formation of specific types of captive insurance companies.

***

Also Schroeder blogged this week about how District 39 residents can
receive help for potholes in local, country and state roadways.

If your car has sustained any damages due to the existing potholes,
contact the Department of Treasury of Risk Management at 609-292-4347
between 8:30am – 4:30pm to find out about possible compensation. You
can also report the damage via an online form.

The State DOT is also asking for help in reporting any of the problems
you might encounter as you travel New Jersey roadways including
potholes, tall grass, graffiti, deer carcass, light or sign problems,
guardrail damage or general maintenance.

For State Highways, visit the NJ DOT website and fill out the form.
For the NJ Turnpike or Garden State Parkway, follow the link and fill
out the online form.

For all Bergen County roads call 201-646-2811.

For local roadways, first contact the town in which the problem
exists, then email Assemblyman Robert Schroeder at
AsmSchroeder@njleg.org if you need further assistance.