New Jersey Senate Republicans

08/27/2026 | Press release | Distributed by Public on 08/27/2026 14:16

Tiver Bill Expanding Financing Options for Fire Departments Signed into Law

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Tiver Bill Expanding Financing Options for Fire Departments Signed into Law

Latham Tiver Posted on August 27, 2026

Governor Mikie Sherrill signed bipartisan legislation sponsored by Senator Latham Tiver (R-Atlantic, Burlington) to give fire departments more flexibility to finance and lease necessary equipment.

"Fire departments need dependable equipment to protect both firefighters and the communities they serve," said Senator Tiver. "Fire apparatus is a major investment, and this law gives fire districts financing options that better reflect the long-term use of these assets. This flexibility will help fire departments make critical investments in their equipment while better managing those costs over the long term."

Senator Tiver's bill, A-4687/S-757, amends existing law to extend the allowable terms for certain financing agreements. Specifically, fire districts can now enter into contracts for leasing or servicing new fire engines, apparatus, and certain related equipment for up to 20 years, compared with the previous five-year limit.

Additionally, the law gives fire districts more time to finance approved capital projects by extending the financing period from three years to 10 years.

Read the full text of the bill online.

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