ACR28

New Jersey ACR28 proposes a constitutional amendment to cap annual state spending growth at one percent over six years and establish a fund for.

New Jersey ACR28 proposes a constitutional amendment to establish an annual appropriations cap on state spending, limiting growth to one percent over the prior year's appropriations for six years. All appropriations must be line-items in fixed dollar amounts. The amendment also creates a permanent Revenue Responsibility Fund. Surplus funds over two percent of the estimated total revenue for the fiscal year are reserved for this fund, which can only be used to pay down the state's unfunded public employee pension liabilities.