Establishes State Debt Capacity Advisory Commission.
This bill creates the State Debt Capacity Advisory Commission to produce an annual report analyzing New Jersey's debt affordability. The report, due by December 1 each year, includes projections of 10-year revenue for debt service, debt issuance estimates, debt service schedules, debt ratios (like debt-to-revenue), and comparisons to the ten most populous states. It provides nonbinding advisory information to help state policymakers evaluate future debt decisions, but does not constitute official debt disclosure. The commission, composed of nine members including state officials and public finance experts, will publish this analysis publicly. The bill directly affects state budget and finance decision-makers by providing structured debt-related data for planning.
Bill status
in committee
1 of 4 stages cleared
Introduction
Jan 2024
Committee Review
Floor Vote
Governor
Introduced Jan 9, 2024
Last action Jan 9, 2024
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Full legislative history
Actions timeline
Total actions
1
Key actions
0
Committee
0
Jan 9, 2024
Introduced
Introduced in the Assembly, Referred to Assembly State and Local Government Committee
lower
1 primary · 2 co-sponsors
Sponsors
Role
Legislator
Party
State
District
P
Jay Webber
RRepublican
Co
Antwan McClellan
RRepublican
Co
Erik Simonsen
RRepublican
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