The Senate Budget and Appropriations Committee will consider a constitutional amendment sponsored by Senator Leonard Lance (R-23) to require voter approval of state and state authority debt.
“For too long we have ignored the Debt Limitation Clause of the New Jersey Constitution that requires voter approval of all State borrowing,” said Lance. “We must close the loophole that has allowed several administrations to circumvent the voter approval process, resulting in a massive accumulation of debt that voters would never have allowed.”
The constitutional amendment, SCR-39, will be heard at the Senate Budget and Appropriations meeting on Monday, March 10 at 1 PM in Committee Room 4 of the State House Annex.
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March 13, 2008 - Lance: $3.9 Billion in Debt Needs Voter Approval
June 20, 2008 - Bateman: Corzine Should Conditionally Veto Massive New Borrowing and Ask the Voters to Approve Original Amount
June 25, 2008
