Requires annual State debt affordability analysis be included in State Debt Report.
This bill requires New Jersey's State Commission on Capital Budgeting to include an annual debt affordability analysis in the State Debt Report. The analysis must evaluate the state's ability to manage existing debt and future borrowing, using specific metrics like debt-to-revenue ratios and comparing New Jersey's debt levels to those of other states with similar economic profiles. It directly affects the Commission and state agencies by mandating detailed reporting on debt service costs, long-term obligations, and affordability benchmarks for legislative review. The provision does not change debt limits but provides data to inform future budget 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
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Full legislative history
Actions timeline
Total actions
1
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0
Committee
0
Jan 9, 2024
Introduced
Introduced in the Senate, Referred to Senate Budget and Appropriations Committee
upper
1 primary · 0 co-sponsors
Sponsors
Role
Legislator
Party
State
District
P
Troy Singleton
DDemocratic
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