SENATE BUDGET AND APPROPRIATIONS COMMITTEE

 

STATEMENT TO

 

SENATE, No. 3076

 

with committee amendments

 

STATE OF NEW JERSEY

 

DATED:  MARCH 9, 2017

 

      The Senate Budget and Appropriations Committee reports favorably Senate Bill No. 3076, with committee amendments.

      As amended, this bill appropriates $260 million to the Department of Transportation from the revenues and other funds of the Transportation Trust Fund Authority (authority) for the purposes of repairing roads and bridges in the State.  The bill also appropriates $140 million to the New Jersey Transit Corporation from the revenues and other funds of the authority for technology improvements and projects that enhance system safety. 

      P.L.2016, c.56 indicates that there shall be $16 billion in appropriations from the funds of the authority for FY 2017 through FY 2024.  That proposed multi-year spending goal equates to an average annual appropriation of $2 billion per year.  The current FY 2017 appropriation from the funds of the authority is $1.6 billion.  This bill increases the total FY 2017 appropriation to $2 billion.

 

COMMITTEE AMENDMENTS:

      The committee amendments reduced the appropriation to the Department of Transportation from the revenues and other funds of the authority from $400 million to $260 million.  The amendments also create a $140 million appropriation to the New Jersey Transit Corporation from the revenues and other funds of the authority for technology improvements and system safety.

 

FISCAL IMPACT:

      The bill has no direct impact on General Fund appropriations.  The bill increases the total appropriation from the revenues and other funds of the authority by $400 million; however, this increase lies within the $16 billion statutory cap on appropriations from the revenues and other funds of the authority from FY 2017-2024, and is therefore, consistent with the existing statutory spending authorization over this period.