Bill
Bill > S3382
NJ S3382
NJ S3382Increases EDA bonding limit for State share of school facilities projects of SDA districts and school districts other than SDA districts, subject to voter approval.
summary
Introduced
02/09/2026
02/09/2026
In Committee
02/09/2026
02/09/2026
Crossed Over
Passed
Dead
Introduced Session
2026-2027 Regular Session
Bill Summary
This bill increases the amount of bonds authorized to be issued by the New Jersey Economic Development Authority (EDA) to finance the State share of costs of school facilities projects. Specifically, the bill authorizes $7 billion in bonds to support the approved costs of school facilities projects in SDA districts and $3.5 billion in bonds to support the approved costs of school facilities projects in school districts other than SDA districts. The bonds authorized under the bill would only be issued if approved by the voters in a Statewide referendum. The referendum would be held at the next general election which, in accordance with Article II, Section I, paragraph 2 of the New Jersey Constitution, is required to be a general election held at least 70 days following the date of the bill's enactment. Pursuant to laws enacted in 2000 and 2008, the EDA is authorized to issue a total of $8.9 billion in bonds to fund the State share of school facilities projects in SDA districts and $3.6 billion in bonds to fund the State share of school facilities projects in school districts other than SDA districts. To date, the EDA has spent or reserved all funds authorized under the 2000 and 2008 laws. Under current law, the State funds the full cost of school facilities projects in SDA districts, while a regular operating district may receive a grant through which the State funds at least 40 percent of eligible project costs. This bill provides authorization for the issuance of an additional $7 billion in bonds to fund the State share of school facilities projects and emergent projects in SDA districts and $3.5 billion in bonds to fund the State share of school facilities projects in school districts other than SDA districts. These provisions of the bill are to be presented to the voters at the next general election and would only go into effect upon approval of the voters.
AI Summary
This bill proposes to increase the bonding limits for the New Jersey Economic Development Authority (EDA) to fund the State's share of school facilities projects, but only if approved by voters in a statewide referendum. Specifically, it seeks to authorize an additional $7 billion in bonds for school facilities projects in SDA (Special District Assessment) districts, which are identified as having special educational needs requiring supplemental programs and facility improvements, and an additional $3.5 billion for school facilities projects in all other school districts. Under current law, the State covers the full cost of projects in SDA districts, while other districts may receive grants covering at least 40% of eligible costs, and the EDA has already used or reserved all previously authorized bonding amounts for these purposes. The referendum will be held at the next general election, at least 70 days after the bill becomes law, and if approved, the increased bonding authority will take effect 60 days after that voter approval.
Committee Categories
Education
Sponsors (1)
Last Action
Introduced in the Senate, Referred to Senate Education Committee (on 02/09/2026)
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/S3382 |
| BillText | https://pub.njleg.gov/Bills/2026/S3500/3382_I1.HTM |
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