A 2% surcharge on property insurance policies, and mandatory fees on the oil and gas industries are two ways that a public-private group formed in the aftermath of Superstorm Sandy recommends to fund projects to protect against the next big storm.
FILE - Peter Green surveys the wreckage of an oceanfront home in Bay Head N.J. on Oct. 31, 2012, two days after Superstorm Sandy hit. A public-private group formed after Sandy, Rebuild By Design, is recommending New Jersey adopt three permanent sources of money for climate resiliency projects, including a public referendum, a 2% surcharge on property insurance policies, and mandatory payments from the oil and gas industries. FILE - People walk along a rock wall in Bay Head N.J. on Oct.
Two Democratic state lawmakers introduced a bill to do that in New Jersey earlier this month. New York passed a similar law, which is awaiting action by Gov. Kathy Hochul, and similar efforts have happened in Massachusetts, Vermont and Maryland, the group said. The $7.2 billion in disaster recovery aid spent in New Jersey ranks the state third in the nation over that time span, the group said.
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