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Bill > S936
NJ S936
NJ S936Requires New Jersey Educational Facilities Authority to annually prepare report on debt held by public institutions of higher education.
summary
Introduced
01/16/2018
01/16/2018
In Committee
01/16/2018
01/16/2018
Crossed Over
Passed
Dead
01/08/2020
01/08/2020
Introduced Session
2018-2019 Regular Session
Bill Summary
This bill requires the New Jersey Educational Facilities Authority to annually submit a report to the Governor and Legislature detailing the debt ratio and the debt burden ratio for each public institution of higher education. The bill defines the debt ratio as an institution's expendable net assets divided by its total long-term debt, while the debt burden ratio is defined as the institution's debt service due divided by its total expenditures.
AI Summary
This bill requires the New Jersey Educational Facilities Authority to annually submit a report to the Governor and Legislature detailing the debt ratio (an institution's expendable net assets divided by its total long-term debt) and the debt burden ratio (an institution's debt service due divided by its total expenditures) for each public institution of higher education in the prior academic year. The report must be submitted no later than January 1 following the academic year for which the report is prepared.
Committee Categories
Education
Sponsors (1)
Last Action
Introduced in the Senate, Referred to Senate Higher Education Committee (on 01/16/2018)
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| BillText | https://www.njleg.state.nj.us/2018/Bills/S1000/936_I1.HTM |
| Bill | https://www.njleg.state.nj.us/2018/Bills/S1000/936_I1.PDF |
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