Concerns removal of abandoned vessels; appropriates $25 million.

New Jersey's A1435 creates a 21-member working group to coordinate the safe removal of abandoned vessels along the state's coastline, directly affecting coastal municipalities struggling with derelict boats - especially those impacted by Hurricane Sandy. The bill establishes a $25 million "Abandoned Vessels Fund" administered by the State Treasurer to reimburse municipalities for removal costs under a new program. Key provisions include annual reporting requirements for the working group, mandatory cooperation from state agencies, and strict rules to prevent fund diversion without legislative approval. This policy change provides concrete financial and structural support for communities to address environmental hazards and navigational risks posed by abandoned vessels.