A new proposal would give beleaguered Atlantic City a complete of 130 days to make serious changes to its finances otherwise the state would take control.

According to a report from the Associated Press, the plan came Wednesday from State Senate President Steve Sweeney. There are currently two bills at the table in Trenton that will have New Jersey take over the seaside town’s finances. One requires giving Atlantic City as much as two years before that will happen.

The new plan from Sweeney comes with a state loan, the report said.

It’s unclear if Gov. Chris Christie will change his position at the plan to assist Atlantic City, that is nearly out of cash and is in debt. Christie said he won’t let Atlantic City go bankrupt and he desires to take over its finances, but he's against a competing takeover plan from Assembly Speaker Vincent Prieto. Earlier this month, Christie announced that the state is suing Atlantic City.

“For years the Atlantic City government has made bold assertions regarding its ability to resolve the problem,” Sweeney told the AP. “Despite those assertions, no solutions have ever been implemented in a fabric way. Our proposal gives town one last chance.”

While lawmakers attempt to hash out a package that might assist town financially, voters in November will decide if Atlantic City should now lose its monopoly on casinos. Two casinos might be inbuilt north Jersey under that plan, possibly leading to additional casino closings in Atlantic City, which lost four of its then 12 casinos in 2014.

Image via Pixabay.

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