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NJ A5331
Bill
Status
2/20/2025
Primary Sponsor
Heather Simmons
Click for details
AI Summary
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Caps total appropriations from the State General Fund, Property Tax Relief Fund, Casino Control Fund, Casino Revenue Fund, and Gubernatorial Elections Fund in Fiscal Year 2026 at Fiscal Year 2025 levels
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Requires any revenue collected in FY2026 that exceeds FY2025 collections to be deposited into the New Jersey Debt Defeasance and Prevention Fund in FY2027
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Exempts federal revenue and constitutionally dedicated state revenue from the excess revenue deposit requirement
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The spending freeze and revenue provisions expire on July 1, 2027
Legislative Description
Establishes a spending freeze for Fiscal Year 2026; requires excess revenues collected in FY2026 to be deposited in Debt Defeasance and Prevention Fund.
Budget
Last Action
Introduced, Referred to Assembly Budget Committee
2/20/2025