- Associated Press - Friday, December 19, 2014

TRENTON, N.J. (AP) - A credit rating agency is calling New Jersey’s and New York’s failure to renew red light traffic camera programs a negative development.

Moody’s publicized its opinion in a review this week and noted the program’s expiration could hurt local governments’ revenue streams.

The outlook does not mean the agency is lowering the states’ credit ratings, but the decision is one factor Moody’s considers when determining their overall rating.

Twenty-five New Jersey towns enrolled in the pilot program that ended this week. In New York, the Nassau County Legislature repealed a law authorizing speed cameras near schools and state lawmakers failed to renew a law permitting local governments to use red light cameras.

The agency says the effectiveness of the cameras declines over time as drivers adjust behavior.

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