Amends Constitution to limit use of nonrecurring revenue in State budget except in certain times of crisis and limits State budget growth.
SCR 71 proposes a constitutional amendment requiring New Jersey's state budget to be balanced using only regularly collected recurring revenue (like income tax) rather than one-time or nonrecurring sources. It allows exceptions for crises like disasters or war only with a two-thirds vote in both legislative chambers. The bill also limits annual budget growth to the increase in the Consumer Price Index (CPI) and directs unspent recurring revenue into a "rainy day fund" (Surplus Revenue Fund). This would constrain how the state funds operations and prevent using temporary revenue to cover ongoing expenses.
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
No floor votes recorded yet.
Full legislative history
Actions timeline
Total actions
1
Key actions
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
Parker Space
RRepublican
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