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Bill > A1015
NJ A1015
NJ A1015Requires interpretive statements of State general obligation bond act public questions to include certain fiscal information.
summary
Introduced
01/11/2022
01/11/2022
In Committee
01/11/2022
01/11/2022
Crossed Over
Passed
Dead
01/08/2024
01/08/2024
Introduced Session
2022-2023 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 debt or liability of the State include a fiscal statement in narrative form. This statement would provide information on the total amount appropriated by the State in the prior fiscal year for payment of principal and interest on State general obligation indebtedness, as well as the estimated total amount of principal and interest payments required to redeem the aggregate principal amount of the new indebtedness proposed. This information would be presented on a State per capita basis. The bill specifies that any projections required for this fiscal statement shall be based on the best information made available from the Department of Treasury.
Committee Categories
Budget and Finance, Government Affairs
Sponsors (3)
Last Action
Introduced, Referred to Assembly State and Local Government Committee (on 01/11/2022)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://www.njleg.state.nj.us/bill-search/2022/A1015 |
| BillText | https://www.njleg.state.nj.us/Bills/2022/A1500/1015_I1.HTM |
| Bill | https://www.njleg.state.nj.us/Bills/2022/A1500/1015_I1.PDF |
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