PRESS RELEASE

TRENTON – Governor Jon S. Corzine this week announced that the State will be contributing $1.45 million this week to help New Jersey residents in need pay their utility bills.

"We know that many of our most vulnerable residents, including seniors and some New Jersey families, struggle to pay heating bills during this time of year as energy usage increases,” Governor Corzine said. “These funds will help to ease the burden of utility costs, keeping those in need warm and safe throughout the cold winter months.”

“During these difficult economic times, New Jerseyans in need of assistance can take comfort in the fact that this money is available to aid them in heating their homes,” Treasurer David Rousseau said.

The money is provided through the NJ Department of the Treasury’s Office of Unclaimed Property from a special utility trust fund to New Jersey SHARES, a non-profit corporation designated by the Board of Public Utilities to provide energy assistance to qualified applicants.

“Living without heat during the winter in New Jersey is unimaginable. Governor Corzine's support of moderate and fixed income households in crisis allows our neighbors to remain safely in their homes and to address the burden created ever increasing energy bills,” NJ SHARES Executive Director Jim Jacob said.

“Thanks to this support from Governor Corzine and State Treasurer Rousseau our neighbors will not have to choose between paying their energy bills and eating or taking necessary medications,” Jacob said. “The administration's support of NJ SHARES this year has provided help to thousands of individuals and families across the state. These funds will allow New Jersey SHARES to avert potential tragedies for our neighbors in every county.”

The special trust fund is maintained by the Office of Unclaimed Property and contains money turned over to the state by utility companies. The money comes from deposits made by customers that are left uncollected after they change residences.

The donation of $1,452,556 represents 75 percent of the special fund’s balance this fiscal year. The remainder is being kept in reserve to pay unclaimed property claims. The state donated a total of about $789,000 to the fund in Fiscal Year 2009. In addition to what it collects from utilities, the fund is augmented each year by tax deductible donations from the public.

Information on NJ SHARES programs and eligibility requirements can be found by going to the NJ SHARES web site at www.njshares.org.

---