New Jersey Assembly Bill A4739

New Jersey 2022-2023 Regular Session

• Introduced: 10/11/22
• Refer: 10/11/22

Caption

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.

Impact

By mandating the inclusion of current debt information on the ballot, A4739 aims to empower voters to make informed decisions regarding state financial obligations. This requirement could lead to increased scrutiny of bond proposals, as voters will be more aware of the existing fiscal conditions. The effectiveness of this reform hinges on accurate and timely disclosure, as voters will rely on the recited figures being up-to-date, specifically reflective of data as of June 30 of the preceding year. This measure could potentially lead to decreased bond approvals if the disclosed information reveals substantial state liabilities.

Summary

Assembly Bill A4739, introduced in New Jersey's 220th legislature, mandates that any public question concerning the approval of a state bond issue must include a detailed disclosure of the state's total outstanding debt and liabilities. Specifically, the bill amends R.S.19:3-6 to ensure that the interpretive statement presented on the ballot provides voters with a comprehensive understanding of the financial implications associated with the bond issue. This approach aims to enhance transparency in the electoral process by requiring that voters are aware of the financial responsibilities linked to their votes on public debt.

Contention

The introduction of A4739 has sparked discussions on the balance between transparency and potential voter apprehension. Proponents argue that knowledge of existing debts will lead to responsible voting behavior and accountability among state officials. However, critics may express concern that such disclosures could dissuade voters from approving necessary bond issues, leading to negative consequences for public projects and infrastructure development. Moreover, there are questions regarding the clarity of the language used in the ballot statements, which must be easily understood by the average voter to truly serve its purpose.