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Bill > S522
NJ S522
NJ S522Requires 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.
summary
Introduced
01/09/2024
01/09/2024
In Committee
01/09/2024
01/09/2024
Crossed Over
Passed
Dead
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 whenever a law authorizing the issuance of State general obligation debt is submitted to the people for their approval, the interpretive statement appearing on the ballot 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 to pay the interest and principal on such debts or liabilities. This recitation of outstanding debts and liabilities must be current as of June 30 of the year preceding the year in which the public question is submitted.
Committee Categories
Government Affairs
Sponsors (2)
Last Action
Introduced in the Senate, Referred to Senate State Government, Wagering, Tourism & Historic Preservation Committee (on 01/09/2024)
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/2024/S522 |
| BillText | https://pub.njleg.gov/Bills/2024/S1000/522_I1.HTM |
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