DANCER LEGISLATION WOULD MAKE EXECUTIVE ORDER 103 A LAW

DANCER LEGISLATION WOULD MAKE EXECUTIVE ORDER 103 A LAW

A-3189 REQUIRES STATE SPENDING TO MATCH RECURRING REVENUES When Governor Corzine signed Executive Order 103 on June 30th, it required that the Executive Branch deliver an annual state budget proposal that matches requested appropriations from the State with the amount of recurring revenue, as certified by the State Treasurer and the Office of Management and Budget.  Today, Assemblyman Ron Dancer, R- Burlington, Monmouth, Ocean, Mercer) introduced bill A-3189 that would move this directive from an Executive Order into statutory law.

“I believe that if we are all serious about fiscal responsibility, then the next logical step is to put Executive Order 103 into law,” stated Dancer.  “As an Executive Order, this issue could be rescinded by the current or succeeding governor.  My goal is to give this Order stronger teeth by making it law.  The time for using one-time revenues to fund recurring expenses is long gone.  This legislation is a step towards restoring fiscal responsibility in New Jersey.”

In addition to requiring that expenses not exceed recurring revenues, Dancer’s bill also stipulates that in the event there are excess revenues in the budget, that they be credited into the Long Term Obligation and Capital Expenditure Fund.  These revenues would be used to retire debt, invest in capital improvements, or make supplemental payments to reduce unfunded pension, retirement and health benefit liabilities.

“I anticipate widespread support for this proposal.  It is not complicated, nor should it be controversial,” continued Dancer.  “Passage of A-3189 would send a positive message to residents that we are resolute in our efforts to putting our fiscal house in order.”

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