Bill > A3148

This bill requires that any ballot question asking voters to approve the creation of a debt or liability for the State, which is backed by the State's full faith and credit (meaning the State guarantees repayment), must include a new fiscal statement at the end of the existing interpretive statement. This new statement, presented in a narrative format, will provide two key pieces of financial information: first, the total amount the State spent in the previous fiscal year to pay off the principal (the original amount borrowed) and interest on existing State general obligation indebtedness (debts the State has already taken on and is obligated to repay), and that amount calculated on a per-person basis for all residents; and second, an estimate of the total principal and interest payments needed to fully repay the new debt being proposed, also presented on a per-person basis, based on assumptions about interest rates, loan terms, and repayment schedules. Any financial projections needed for this statement will be based on the best available information from the Department of the Treasury.

Government Affairs

https://www.njleg.state.nj.us/bill-search/2026/A3148