Requires ballot question on approval of State bond issue to disclose total amount of debt of State or other entity, debt service on which is funded through annual State appropriation.
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Progress
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- Introduced
- Passed Senate
- Passed General Assembly
- To Governor
- Became Law
Overview
This bill requires that when New Jersey voters are asked to approve a state bond issue, the ballot language must include a clear statement of the total amount of existing debt held by the state and other entities that are funded by annual state appropriations. This aims to provide voters with a more complete picture of the state’s financial obligations before they vote on new debt. The bill updates state law to ensure this information is included in the interpretive statement on the ballot.
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