New Jersey S2535 restricts the State Treasurer from authorizing new debt unless certain conditions are met.

New Jersey S2535 aims to regulate the authorization of new State debt by the State Treasurer. The bill prohibits the issuance of new appropriations-backed bonds unless there are no unexpended and uncommitted balances in the "New Jersey Debt Defeasance and Prevention Fund" or the present value of debt service per $1,000 of face value of the bonds being issued is less than that of bonds that could be retired or defeased through the fund.

New Jersey S2535 restricts the State Treasurer from authorizing new debt unless certain conditions are met.

New Jersey S2535 aims to regulate the authorization of new State debt by the State Treasurer. The bill prohibits the issuance of new appropriations-backed bonds unless there are no unexpended and uncommitted balances in the "New Jersey Debt Defeasance and Prevention Fund" or the present value of debt service per $1,000 of face value of the bonds being issued is less than that of bonds that could be retired or defeased through the fund.