Bill
Bill > ACR28
NJ ACR28
NJ ACR28Proposes constitutional amendment to establish revenue responsibility through annual State appropriations cap limiting spending growth to one percent per year over six years and a permanent revenue responsibility fund reserved for reducing State pension benefit liabilities.
summary
Introduced
01/13/2026
01/13/2026
In Committee
01/13/2026
01/13/2026
Crossed Over
Passed
Dead
Introduced Session
2026-2027 Regular Session
Bill Summary
This concurrent resolution amends the State Constitution to establish an effective annual State appropriations cap and a surplus revenue fund that will receive a portion of any annual budget surplus and is required to be available only to address funding for public employees pension liabilities. The State spending cap on State funds is set for each of the next six fiscal years to one percent above the amount appropriated in the prior year. This will establish a responsible approach to establishing State spending. The State always is to end and start a fiscal year with an anticipated balance. Also under this amendment, all State government appropriations are required to be made as line-items in fixed dollar amounts so that all operating costs will be counted under this limit. This will require the full disclosure through line-item display of all "off-budget" expenditures that are typically authorized by the several hundred language provisions in the annual appropriations act. Additionally, a permanent Revenue Responsibility Fund is created to reserve a portion of surplus funds at the beginning of a fiscal year. Surplus revenue on hand at the beginning of a fiscal year that is over two percent of the total amount of State revenue certified by the Governor for that year is reserved only for appropriations to pay the State's accrued, unfunded liabilities for public employee pension benefits. Only if all such long-term liabilities are eliminated, may the reserved surplus revenue be used in meeting an emergency if a bill describing the nature of the emergency and the intended use of the funds in meeting the emergency is approved by the Legislature by a two-thirds majority vote. Also, if that liability is paid off, and if the balance in the Fund grows above five percent of certified available annual revenue for a fiscal year, the amount above that level may be spent for additional property tax relief.
AI Summary
This concurrent resolution proposes a constitutional amendment to establish fiscal responsibility by implementing a State appropriations cap and creating a dedicated fund for pension liabilities. For the next six years, the State's spending growth will be limited to one percent annually over the previous year's appropriations, with all spending required to be itemized as fixed dollar amounts, ensuring full transparency. Additionally, a permanent Revenue Responsibility Fund will be established to hold any surplus revenue exceeding two percent of the State's anticipated revenue. This fund is exclusively reserved for paying down the State's unfunded liabilities for public employee pension benefits, and only after these liabilities are fully addressed can the funds be used for emergencies with a two-thirds legislative vote or for property tax relief if the fund balance exceeds five percent of the anticipated revenue.
Committee Categories
Government Affairs
Sponsors (1)
Last Action
Introduced, Referred to Assembly State and Local Government Committee (on 01/13/2026)
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/2026/ACR28 |
| BillText | https://pub.njleg.gov/Bills/2026/ACR/28_I1.HTM |
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