Establishes New Jersey Revenue Advisory Board; modifies executive State budget presentation; updates State revenue and expenditure reporting and disclosure requirements; and requires annual State financial stress testing.

The bill establishes the New Jersey Revenue Advisory Board, consisting of the State Treasurer, Legislative Budget and Finance Officer, and four public members with expertise in finance, economics, and tax policy, to provide annual consensus revenue forecasts for the state budget process. It requires the Governor to reference these forecasts in the annual budget message and explain any differences between them and the Governor's revenue estimates. The bill also updates state financial reporting requirements to include more detailed monthly and annual reports on revenue, expenditures, and cash flow, and mandates annual stress testing of the state's financial position to prepare for economic downturns. These changes aim to increase transparency and improve the accuracy of state financial forecasting and planning.