Current Legislation - June 22, 2012
BUDGET BILL: A-3200 (Prieto)/S-2013 (Sarlo) The FY 2013 budget bill (Appropriations Act) appropriates $31,741,467,000 or $404,167,000 less than the Governor’s proposed budget. The bill reduces spending to reflect the lower than anticipated revenues collected year-to-date. Copies of the bills and summary documents showing the specific changes from the governor’s proposed budget are available at http://www.njleg.state.nj.us/.
According to the Office of Legislative Services, the bill maintains a closing balance of $303,635,000 and reserves $183,000,000 in the Property tax Relief Fund in anticipation of separate legislation being enacted later in the fiscal year to implement the Senate President’s proposed tax cut.
The Appropriations Act reduces Direct State Services funding for Education by $6.8 million and underfunds the School Funding Formula by about $400 million. Other specific changes from the governor’s proposed budget are:
- Nonpublic Technology Initiative gets an additional $4,000,000,
- School Choice is reduced by ($3,400,000),
- TPAF-non-Contributory Insurance reduced ($519,000),
- TPAF – Post Retirement Medical is increased by $58,610,000,
- School Construction and Renovation Fund Reduced ($61,043,000), and
- Social Security Tax – Employer Contributions are reduced ($4,500,000).
The Senate Budget and Appropriations Committee released the bill by a vote of 8-5 and the Assembly Budget Committee released the bill by a vote of 7-4. The bills are scheduled to be voted on in the full Senate and Assembly on Monday, June 25, 2012. NJEA did not take a position on the budget because copies of the actual bills and the summary documents were not available.