New Jersey lawmakers plan to mount a renewed push for legislation aimed at stabilizing Atlantic City’s finances despite its rejection by Governor Chris Christie, seeking to extend aid to the struggling gambling hub that’s rapidly running out of money, Bloomberg News reported on Friday. The measures seek to divert gaming funds to the city and for a decade set up fixed payments from casinos instead of property taxes, which would prevent the assessment appeals that have dealt a blow to the government’s revenue. If approved, the bills could help steady a city that’s at risk of running out of cash in April, if not sooner, said state Senator Jim Whelan, a Democrat who represents Atlantic City. He said that legislators this week will also introduce a bill that would give the state more control over its finances for five years, a plan presented by Christie on Jan. 26. It would give Atlantic City a year to generate cash from its water utility before state officials step in to do so themselves, Whelan said.
