TRENTON — More than a year after the original plan was introduced, the state Assembly has signed off on changes Gov. Chris Christie made to a package of bills aiming to help rescue financially ailing Atlantic City.

And the state Senate may soon follow suit. 

After the bills sat on his desk for more than five months, Christie last month conditionally vetoed three in the package designed to boost the Jersey Shore gambling resort, saying he didn't believe the legislation asked enough accountability and changes from the city.

Atlantic City has seen four casinos close and more than 8,000 jobs lost over the last two years amid ever-increasing competition from neighboring states.

Among the three measures the Assembly re-approved on Thursday was the package's key bill (A3981), which attempts to stabilize Atlantic City's tax base by allowing the eight remaining casinos to collectively make $120 million in payments in lieu of property taxes for 15 years — otherwise known as the PILOT program. That would spell the end for casino tax appeals that have plagued the city.

North Jersey casino plans advance despite fears it will 'kill' Atlantic City

The other two measures include:

• A3985, which would eliminate the Atlantic City Alliance, the resort's marketing arm. Originally, the measure would have transferred the group's $30 million annual budget to the city in the tax years 2015 and 2016. Instead, Christie recommended sending those funds to the state.

The city would then need to submit a financial plan to the state Local Finance Board for approval to receive the funds. Atlantic City has left a $33.5 million hole in its budget for the money — called the "Casino Redirected Anticipated Payment."

• A3984, which would reallocate revenue from the casino investment alternative tax from the Casino Reinvestment Development Authority to the city to pay debt service on municipal bonds.

"This is a good day for Atlantic City," said Assemblyman Vince Mazzeo (D-Atlantic), on of the bills'  primary sponsors. "Atlantic City is now closer to having the certainty it needs to plan for the future while pursuing whatever other budget cuts are needed to responsibly make ends meet."

Wall Street credit rating agency Moody's Investor Services released a report last month saying that the package would reduce the likelihood that Atlantic City is "forced into bankruptcy," though they won't be enough to stabilize the city's finances.

Now, the state Senate — the upper house of the Legislature — must approve Christie's changes before they head back to the governor for his signature. 

Senate President Stephen Sweeney (D-Gloucester) said Thursday it's likely the upper house will vote on them early next month.

After Christie rejected most of the package last month, he and Sweeney said they would sit down to come up with a final plan to help Atlantic City — though it's unclear if that ever took place.

State Sen. Jim Whelan (D-Atlantic), a former Atlantic City mayor, said he would have preferred the bills as they originally were but added that he can "live with" Christie's alterations.

"They're needed," Whelan said. "Atlantic City is desperate for money."

The bills weren't the only legislation aiming to help Atlantic City that moved forward during a marathon legislative session Thursday. 

The Assembly and Senate advanced dueling plans that would ask voters to approve of two casinos in northern Jersey. 

Under both plans, some of the new casinos' tax revenue would go to helping Atlantic City's revival. Still, some lawmakers representing the resort and its region expressed worry that the plans would further hurt the city.

Brent Johnson may be reached at This e-mail address is being protected from spambots. You need JavaScript enabled to view it . Follow him on Twitter @johnsb01. Find NJ.com Politics on Facebook.