Requires annual State debt affordability analysis be included in State Debt Report.
This bill requires New Jersey's annual State Debt Report to include a detailed debt affordability analysis. It mandates the Commission on Capital Budgeting and Planning to assess the state's ability to afford additional debt through metrics like debt service payments relative to revenues, debt per capita, and comparisons to other states' debt ratios. The analysis must cover all state debt types - including general obligations, transportation authority debt, retirement liabilities, and capital leases - and include revenue estimates for the next decade. State agencies, independent authorities, and debt-issuing entities must provide necessary data to complete this assessment. The goal is to provide policymakers with data-driven insights for responsible debt management decisions.
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
Floor votes
How they voted
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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
3 primary · 1 co-sponsor
Sponsors
Role
Legislator
Party
State
District
P
Carol Murphy
DDemocratic
P
Shavonda Sumter
DDemocratic
P
Verlina Reynolds-Jackson
DDemocratic
Co
Jay Webber
RRepublican
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