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Bill > A2029

NJ A2029

NJ A2029
Requires stress testing on State's ability to provide services in various economic conditions.

summary

Introduced
01/13/2026
In Committee
01/13/2026
Crossed Over
Passed
Dead

Introduced Session

2026-2027 Regular Session

Bill Summary

This bill requires the Department of the Treasury to, once every third year, conduct and report on a stress test analysis of the State's ability to maintain services and provide necessary assistance to residents in various economic conditions. Stress tests analyses can be used to help governments better prepare for future economic recessions. The stress test analyses required by this bill will include: (1) long- and short-term projections of major funding sources, including revenues from major taxes and funding from the federal government; (2) a comparison between projections of major funding sources and historical trends for each of those funding sources; (3) an analysis of expenditures that are likely to increase or decrease in various economic conditions; (4) an accounting of the State's reserves, including amounts deposited into the "Surplus Revenue Fund"; and (5) options that the State has to respond to, and lessen the negative impact of, economic recessions.

AI Summary

This bill mandates that the Department of the Treasury conduct a "stress test" analysis every three years to evaluate the State's capacity to continue providing essential services and aid to its residents under different economic scenarios, such as recessions. This analysis will involve projecting both long-term and short-term revenue from major sources like taxes and federal funding, comparing these projections to past trends, and examining how government spending might change in various economic conditions. It will also require an inventory of the State's financial reserves, including funds in the "Surplus Revenue Fund," and identify potential strategies the State can employ to mitigate the adverse effects of economic downturns. The findings of these stress tests will be made publicly available on the Treasury Department's website and included in the Governor's budget message.

Committee Categories

Government Affairs

Sponsors (5)

Last Action

Introduced, Referred to Assembly State and Local Government Committee (on 01/13/2026)
(3 Companion Bills)

bill text

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Document Type Source Location
State Bill Page https://www.njleg.state.nj.us/bill-search/2026/A2029
BillText https://pub.njleg.gov/Bills/2026/A2500/2029_I1.HTM
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