New Jersey Senate Bill S1655

New Jersey 2024-2025 Regular Session

• Introduced: 1/9/24
• Refer: 1/9/24

Caption

Prohibits bill certified for fiscal note or estimate from being released from committee without fiscal note or estimate.

Impact

If enacted, SB 1655 will amend existing laws related to the legislative budget process, specifically P.L.1980, c.67. The law will require that fiscal notes or legislative fiscal estimates be completed prior to the release of any bill certified for such documents from committee. This change aims to reduce the potential for rushed legislative decisions and ensures that adequate time and resources are allocated for financial analysis. By implementing this requirement, the state legislature will likely see fewer bills advancing without proper financial scrutiny, potentially leading to improved fiscal oversight.

Summary

Senate Bill 1655 aims to enhance the legislative process in New Jersey by preventing bills that require a fiscal note or estimate from being released from committee until a complete fiscal note or estimate is obtained. The bill underscores the importance of financial transparency and analysis in the legislative procedure, ensuring that lawmakers fully understand the potential fiscal implications of proposed legislation before further consideration. This requirement is intended to foster responsible fiscal governance and promote informed decision-making among legislators and stakeholders alike.

Contention

The primary contention surrounding SB 1655 will likely revolve around the implications of delaying the legislative process to accommodate the requirement of fiscal notes or estimates. Some critics may argue that this could hinder timely legislative action on important issues, especially in urgent situations where financial assessments may take time. Conversely, supporters will advocate that proper fiscal oversight is more crucial than expedited processing, reinforcing the necessity of understanding fiscal impacts on the state budget and taxpayers. The debate may focus on balancing the need for fiscal accountability with the need for legislative responsiveness.