Bill > SCR19

This Concurrent Resolution proposes an amendment to the New Jersey Constitution that would require the State budget to be balanced using only regularly collected revenue, excluding one-time or nonrecurring revenue, except in specific crisis situations like war or natural disasters, which would require a two-thirds vote in both houses of the Legislature to override. Furthermore, the amendment limits the growth of the State budget to no more than the increase in the Consumer Price Index, a measure of inflation, compared to the previous fiscal year, and mandates that any unspent recurring revenue be deposited into a "Surplus Revenue Fund," often referred to as a "rainy day fund."