Bill > SCR71

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 from 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, which is a measure of inflation, and mandates that any unspent regularly collected revenue be deposited into a "Surplus Revenue Fund," often referred to as a "rainy day fund."