NJ S522

Bill

Requires ballot question on approval of State bond issue to disclose total amount of debt of State or other entity, debt service on which is funded through annual State appropriation.

Introduced
01/09/2024

In Committee
01/09/2024

Crossed Over

Passed

Dead
01/12/2026

Introduced Session

2024-2025 Regular Session

Bill Summary

This bill provides that whenever a law authorizing the issuance of State general obligation debt is submitted to the people for their approval, as required by the State Constitution, the interpretive statement appearing on the ballot with that public question shall include a recitation of the total amount of debts and liabilities outstanding of the State, any State agency or instrumentality, and any other entity, to which is pledged an annual State appropriation as the ways and means to pay the interest on and discharge the principal of such debts or liabilities. This recitation of the amount of outstanding debts and liabilities is required to be current as of June 30 of the year preceding the year in which the public question is submitted.

AI Summary

This bill requires that when voters are asked to approve a State bond issue, meaning the State borrowing money, the ballot must clearly state the total amount of debt owed by the State, its agencies, or other entities that are funded by annual State appropriations. This means that if the State promises to use its yearly budget to pay back loans, the total amount of those loans will be disclosed. This information must be current as of June 30th of the year before the vote.

Committee Categories

Government Affairs

Sponsors (2)

Jon Bramnick (R)*, Angela Mcknight (D)*,

Last Action

Introduced in the Senate, Referred to Senate State Government, Wagering, Tourism & Historic Preservation Committee (on 01/09/2024)

Official Document

https://www.njleg.state.nj.us/bill-search/2024/S522

(2 Companion Bills)

Version:

Document Type	Source Location
State Bill Page	https://www.njleg.state.nj.us/bill-search/2024/S522
BillText	https://pub.njleg.gov/Bills/2026/S1000/522_I1.HTM
BillText	https://pub.njleg.gov/Bills/2024/S1000/522_I1.HTM

Bill	Bill Name	Last Action	Type
A4739	Requires ballot question on approval of State bond issue to disclose total amount of debt of State or other entity, debt service on which is funded through annual State appropriation.	Introduced, Referred to Assembly State and Local Government Committee	Carry Over
S194	Requires ballot question on approval of State bond issue to disclose total amount of debt of State or other entity, debt service on which is funded through annual State appropriation.	Introduced in the Senate, Referred to Senate State Government, Wagering, Tourism & Historic Preservation Committee	Carry Over

Bill > S522

summary

Introduced Session

Bill Summary

AI Summary

Committee Categories

Sponsors (2)

Last Action

Official Document

bill text

bill summary

bill summary

bill summary