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Article: New Jersey Lawmakers Continue to Make Progress on $33B Budget Plan.
- Article from:
- The Bond Buyer
- Article date:
- June 20, 2008
- Author:
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New Jersey lawmakers continue to more forward with a $33 billion fiscal 2009 budget that may include savings generated from a proposed debt-reduction fund that could decrease the state's debt service costs next year by roughly $130 million.
Assembly members are set to vote on the 2009 fiscal plan on Monday and lawmakers have until June 30, the end of the current 2008 fiscal year to pass the operating budget.
Tied to the $33 billion plan is a measure that would allocate $684 million from the general fund to a yet-to-be-formed long-term obligation and capital expenditure fund, which would then pay down $650 million of existing state debt. That would in ...