S 1667 New Jersey Senate · 2024-2025 Regular Session

Requires Governor to transmit budget sustainability statement along with annual budget message.

S 1667 requires New Jersey's Governor to include a detailed budget sustainability statement with the annual budget message. This statement must analyze whether projected spending for the next fiscal year can be sustained without raising taxes or reducing the State's undesignated fund balance, while tracking structural imbalances, one-time revenues, tax expiration impacts, and mandatory spending increases (like debt payments, contracts, and public assistance programs). The bill mandates that any projected spending increases must be offset by estimated future revenue or reduced appropriations. It applies to the Governor's 2025 budget message and aims to improve long-term fiscal planning by requiring two-year budget analysis.
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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Jan 9, 2024
Introduced
Introduced in the Senate, Referred to Senate Budget and Appropriations Committee
upper
1 primary · 1 co-sponsor

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