A $100 million bond to buy out homeowners in flood-prone areas is advancing through the New Jersey General Assembly.

The Agriculture and Natural Resources Committee unanimously approved the bond on Monday.

The money would be used to buy houses in flood-prone areas, demolish them and adapt the land for recreation.

The Newsworks website reported that Assemblywoman Connie Wagner said residents in flood zones are tired of rebuilding. "We now know that homes should never have been built in certain areas," Newsworks reported her as saying. "The bottom line is they're there. Do we continue the same pattern or do we try a new approach?"

Wagner, D-Bergen, said $15 million would be used to elevate homes.

"Some property owners don't want to leave their communities, and they know that if they elevate the homes that they will be OK," she said, according to Newsworks. "We also know that municipalities are in fear of losing all of their assessments. They need to have their tax base."

A source in Wagner's office said that the Assembly would take action on the bill before June 2013. If approved, New Jersey voters would vote on the proposed bond in November.

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