WeVote
Log In

Bill

DF

Bill

A 3148

Requires interpretive statements of State general obligation bond act public questions to include certain fiscal information.

2026-2027 Regular Session Introduced by Dawn Fantasia and 1 co-sponsor

The bill requires ballot interpretive statements for state GO debt to include a per-capita, narrative fiscal summary of current debt service and projected payments for the proposed

Introduced, Referred to Assembly State and Local Government Committee
0
WeVote Research Nonpartisan
Bill Summary · A 3148

Summary of Bill A 3148 (Session 222, New Jersey)

Purpose and Intent

  • The bill requires that interpretive statements accompanying public questions on State general obligation (GO) bond propositions include specific fiscal information.
  • It aims to enhance voter understanding of the financial implications of issuing new State debt by providing a narrative fiscal statement alongside existing interpretive language.

Key Provisions

  1. Amendments to R.S.19:3-6
  2. For public questions that authorize the creation of a debt or liability of the State pledging the full faith and credit of the State, the ballot’s interpretive statement must include a fiscal narrative.
  3. The required fiscal narrative must include:
    • a) The total amount appropriated by the State in the prior fiscal year for payment of principal and interest on State GO indebtedness, and that amount stated on a State per-capita basis.
    • b) The estimated total amount of principal and interest payments required to redeem the aggregate principal of the new indebtedness proposed, based on stated interest, term, and redemption assumptions, and that amount stated on a State per-capita basis.

  4. Projections must utilize the best information available from the Department of Treasury.

  5. Contingent Clarifications

  6. If a statute’s public question is not clearly stated or lacks a provision for simple-language interpretation or an interpretive statement, the bill allows adding a brief interpretive statement on the ballot clarifying the true purpose and, in some cases, the interpretation of the public question.

  7. Voting Threshold

  8. Public questions are deemed approved when the required percentage of legal voters, as defined by the applicable authorizing statute, vote in favor.

  9. Definition of “Legal Voters”

  10. The bill clarifies that "legal voters" are persons entitled to vote and who do vote according to the statute’s prescribed manner.

  11. For calculating turnout, individuals who do not vote, do not vote on the public question, or whose ballots are invalid are not counted toward the percentage.

  12. Effective Date and Sunset Provision

  13. The act takes effect immediately.

  14. If enacted 115 days or fewer before the next general election, the bill does not apply to state GO bond acts enacted after enactment but before the 70th day preceding that general election.

Who/What is Affected

  • Statewide public ballot questions that authorize the creation of State GO debt.
  • Ballot interpretive statements accompanying such questions.
  • The Department of Treasury, which would provide the data for fiscal projections.
  • Voters, who would receive the additional fiscal narrative to inform their decisions.

Procedural and Timeline Aspects

  • Introduction and referral: January 13, 2026 (Assembly State and Local Government Committee).
  • Immediate effect upon enactment, with a potential partial exemption if the timing is within 115 days of a general election (per the sunset-like provision).
  • Applies to GO bond questions as defined by statute; any surcharge or timing adjustment is governed by the statewide debt statutes in place at the time of the vote.

Practical Implications

  • Voters would receive more explicit cost information for proposed debt, facilitating a clearer understanding of both recent State debt service and the projected burden of new debt.
  • Fiscal data would be presented in narrative form, complementing existing interpretive language that explains the purpose of bond proposals.
  • Potentially influences voter decisions in closer bond elections by providing per-capita cost estimates and annual debt service context.

Compiled from official sources — confirm details with the bill’s official record.

Sign in to ask a question.