Bill > SCR42

Introduced Session

This concurrent resolution proposes a constitutional amendment to require that the State budget be balanced only with regularly collected recurring revenue, not one-time collections or nonrecurring revenue. In times of crisis or disaster, the Legislature may override this constraint by a two-thirds vote in each house. This concurrent resolution also limits the amount by which the budget may grow. Specifically, no State budget may exceed the previous budget by more than the growth in the Consumer Price Index for the same time period. Any recurring revenue not spent by the State budget is allocated to the Surplus Revenue Fund, which is more commonly referred to as the "rainy day fund." The purpose of this constitutional amendment is to rein-in the practice of using nonrecurring revenues to balance the State budget. This amendment is also meant to contain the growth of the State budget at a rate linked to the growth in the economy. While promoting greater fiscal responsibility in the process of crafting State budgets, this constitutional amendment is also offered to alleviate potential financial burdens in the future. The amendment directs that recurring revenues which go unspent, be deposited into the "rainy day fund." Overall, this proposed amendment to the New Jersey Constitution aims to provide New Jersey with greater long-term financial security by constraining the Legislature's ability to undertake short-sighted budgeting practices.

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Parker Space (R)*, 

Introduced in the Senate, Referred to Senate Budget and Appropriations Committee (on 01/13/2026)

Official Document