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Bill > A479
NJ A479
NJ A479Requires interpretive statements of State general obligation bond act public questions to include certain fiscal information.
summary
Introduced
01/14/2020
01/14/2020
In Committee
01/14/2020
01/14/2020
Crossed Over
Passed
Dead
01/11/2022
01/11/2022
Introduced Session
2020-2021 Regular Session
Bill Summary
This bill requires that any ballot question authorizing the creation of a debt or liability of the State contain a statement of (1) the total amount appropriated in the prior fiscal year for payment of principal and interest due on State general obligation indebtedness and that amount on a State per capita basis, and (2) the estimated total amount of principal and interest payments required to redeem the aggregate principal amount of the new indebtedness proposed to be created and that amount on a State per capita basis. This statement would be in narrative form and would follow the interpretive statement that now appears on a ballot question to describe the purposes of the bond issue.
AI Summary
This bill requires that any ballot question authorizing the creation of a State debt or liability contain a statement of the total amount appropriated in the prior fiscal year for payment of principal and interest on State general obligation indebtedness, both in total and on a per capita basis, as well as the estimated total amount of principal and interest payments required to redeem the new indebtedness being proposed, also on a total and per capita basis. This additional fiscal information would be included in the interpretive statement that currently appears on the ballot question to describe the purpose of the bond issue.
Committee Categories
Budget and Finance
Sponsors (3)
Last Action
Introduced, Referred to Assembly Budget Committee (on 01/14/2020)
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| BillText | https://www.njleg.state.nj.us/2020/Bills/A0500/479_I1.HTM |
| Bill | https://www.njleg.state.nj.us/2020/Bills/A0500/479_I1.PDF |
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