What is the term of duration for the capital improvement budget according to NJ law?

The term of duration for the capital improvement budget according to New Jersey law is established as six years. This period is significant because it allows municipalities to plan for and address their capital needs comprehensively over a reasonable timeframe, ensuring that infrastructure and improvement projects align with long-term planning goals. By having a six-year duration, municipalities can prioritize projects, allocate funding, and manage resources effectively while considering the evolving needs of the community. This timeframe also facilitates better project scheduling and coordination, enabling local governments to respond to both current and future demands more efficiently.