Bill > S4097

This bill modifies the existing law governing legislative staff allowances by introducing an annual cost-of-living adjustment mechanism for the $150,000 staff services allowance provided to each member of the New Jersey Senate and General Assembly. Starting January 1 following the bill's enactment, the State Treasurer will calculate an annual adjustment to the allowance based on the Consumer Price Index (CPI) for the New York-Northern New Jersey-Long Island Metropolitan Area, specifically using the All Urban Consumers, All Items index. The adjustment will only occur if the 12-month CPI change (measured from November 1 to October 31) is greater than zero, and the Treasurer must determine and announce the adjustment amount by December 1 each year, with the new allowance amount taking effect the following January 1. This mechanism ensures that the legislative staff allowance keeps pace with inflation, providing legislators with a funding level that maintains its real-world purchasing power over time. The bill aims to provide a systematic, predictable method for updating the staff services allowance without requiring separate legislative action each time an adjustment is needed.

Government Affairs

https://www.njleg.state.nj.us/bill-search/2024/S4097