Bill
Bill > ACR95
NJ ACR95
NJ ACR95Proposes constitutional amendment requiring State revenue estimates for purposes of a balanced State budget be determined by Governor in accordance with State Revenue Forecasting Integrity Commission.
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 proposes a constitutional amendment that requires that the determination of the total amount of State revenue on hand and anticipated to meet an annual balanced State budget and supplemental State appropriations during a fiscal year be made pursuant to the Governor's certification which shall be in accord with the published estimate of such amount by the State Revenue Forecasting Integrity Commission instead of the current method of annual certification of revenues solely in the Governor's discretion. The Governor's certification may include any reasonable change in the total amount of revenue on hand, and any reasonable change in anticipated revenue, provided that the change in anticipated revenue is based only upon a change in law that affects such anticipated revenue amount, which law is enacted after the publication of the estimate of the commission. Under a companion bill that implements this constitutional amendment, the commission will publish on June 1 annually an estimate of State revenues on hand and anticipated to support a balanced State budget and supplemental appropriations during the next commencing fiscal year. The six member commission will draw upon the expertise and experience of the current professional and political participants in the State revenue estimating process, including the State Treasurer, the Legislative Budget and Finance Officer and the chairpersons and ranking minority party members of the budget committees of the Senate and General Assembly. Pursuant to the companion bill, any changes from the commission's published estimate shall be explained by the Governor in a published written report provided on or before July 15 of that fiscal year containing the specific, detailed reasons for difference in the amount of revenues on hand and in each item of revenue that is certified by the Governor in an amount that is different from the commission's published estimate. Through this constitutional amendment and the companion bill, the process of revenue estimating will be a shared responsibility of both professional and political members of the two branches of government that have traditionally shared a cooperative responsibility for the spending side of the "balanced budget" process.
AI Summary
This concurrent resolution proposes a constitutional amendment to ensure a balanced State budget by requiring the Governor's revenue estimates to align with those of a newly established State Revenue Forecasting Integrity Commission. Currently, the Governor has sole discretion in determining the total amount of State revenue available for appropriations. This amendment would mandate that the Governor's certification of these revenue figures, which are crucial for approving the annual budget and any supplemental appropriations, must be based on the commission's published estimate. The Governor can make reasonable adjustments to the revenue on hand and anticipated revenue, but any changes to anticipated revenue must be solely due to new laws enacted after the commission's estimate is released. A companion bill would detail the commission's operations, including its annual June 1 publication of revenue estimates and its composition, which would include representatives from various branches of government involved in the budget process. The Governor would also be required to provide a detailed written explanation for any deviations from the commission's estimate by July 15. This change aims to create a shared responsibility for revenue forecasting between the executive and legislative branches, mirroring their existing collaboration on the spending side of the budget.
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/ACR95 |
| BillText | https://pub.njleg.gov/Bills/2026/ACR/95_I1.HTM |
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