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A4447 • 2026

Establishes spending freeze for Fiscal Year 2027; requires excess revenues collected in FY2027 to be deposited in Debt Defeasance and Prevention Fund.

Establishes spending freeze for Fiscal Year 2027; requires excess revenues collected in FY2027 to be deposited in Debt Defeasance and Prevention Fund.

Passed Legislature

This bill passed both chambers and reached final enrollment, even if later executive action is not shown here.

Sponsor
Simmons, Heather
Last action
2026-02-24
Official status
Introduced, Referred to Assembly Oversight, Reform and Federal Relations Committee
Effective date
Not listed

Plain English Breakdown

Using official source text because the generated explanation was unavailable or could not be confirmed against the official bill text.

Establishes spending freeze for Fiscal Year 2027; requires excess revenues collected in FY2027 to be deposited in Debt Defeasance and Prevention Fund.

Establishes spending freeze for Fiscal Year 2027; requires excess revenues collected in FY2027 to be deposited in Debt Defeasance and Prevention Fund.

What This Bill Does

  • Establishes spending freeze for Fiscal Year 2027; requires excess revenues collected in FY2027 to be deposited in Debt Defeasance and Prevention Fund.
  • Topic: Oversight, Reform and Federal Relations Fiscal note: This bill has been certified by OLS for a fiscal note.

Limits and Unknowns

  • This entry is temporarily using official source text because the generated explanation could not be confirmed against the official bill text during the last sync.

Bill History

  1. 2026-02-24 New Jersey Legislature

    Introduced, Referred to Assembly Oversight, Reform and Federal Relations Committee

Official Summary Text

Establishes spending freeze for Fiscal Year 2027; requires excess revenues collected in FY2027 to be deposited in Debt Defeasance and Prevention Fund.
Topic:
Oversight, Reform and Federal Relations
Fiscal note:
This bill has been certified by OLS for a fiscal note.

Current Bill Text

Read the full stored bill text 
A4447

ASSEMBLY, No. 4447

STATE OF NEW JERSEY

222nd LEGISLATURE

�

INTRODUCED FEBRUARY 24, 2026

Sponsored by:

Assemblywoman� HEATHER SIMMONS

District 3 (Cumberland, Gloucester and Salem)

Co-Sponsored by:

Assemblyman Angelozzi

SYNOPSIS

���� Establishes spending freeze for Fiscal Year 2027;
requires excess revenues collected in FY2027 to be deposited in Debt Defeasance
and Prevention Fund.

CURRENT VERSION OF TEXT

���� As introduced.

��

An Act

calling for a spending freeze for Fiscal Year
2027.

����
Be It
Enacted
by the Senate and General Assembly of
the State of New Jersey:

���� 1.��� a.� Notwithstanding the
provisions of any other law to the contrary, for Fiscal Year 2027, the total amounts
appropriated from the State General Fund, Property Tax Relief Fund established
pursuant to N.J.S.54A:9-25 the �Casino Control Fund� established pursuant to
section 143 of P.L.1977, c.110 (C.5:12-143), the Casino Revenue Fund
established pursuant to section 145 of P.L.1977, c.110 (C.5:12-145) and the
Gubernatorial Elections Fund established pursuant to N.J.S.54A:9-25.1 shall not
exceed the total amounts appropriated from those funds in Fiscal Year 2026.

���� b.��� (1) Except as otherwise
provided in paragraph (2) of this subsection, notwithstanding the provisions of
any law to the contrary, for Fiscal Year 2027, any revenue collected in excess
of the total amount collected in Fiscal Year 2026 shall be appropriated in
Fiscal Year 2028 for deposit into the New Jersey Debt Defeasance and Prevention
Fund, established pursuant to section 1 of P.L.2021, c.125 (C.52:9H-2.2).

���� (2)�� The requirements of this
subsection shall not apply to any source of federal revenue or constitutionally
dedicated State revenue.

���� 2. This act shall take effect
immediately and shall expire on July 1, 2028.

STATEMENT

���� This bill establishes a
one-year spending freeze by limiting the total amount of State funds that can
be appropriated in Fiscal Year 2027. �The bill limits the total amounts
appropriated from the State General Fund, Property Tax Relief Fund Casino
Control Fund, Casino Revenue Fund, and Gubernatorial Elections Fund in Fiscal
Year 2027 to the amounts appropriated from those funds in Fiscal Year 2026.

���� The bill also provides that in
Fiscal Year 2027, any revenue collected in excess of the amount collected in
Fiscal Year 2026 is required to be appropriated for deposit into the New Jersey
Debt Defeasance and Prevention Fund in Fiscal Year 2028.� However, this
requirements would not apply to any source of federal revenue or constitutionally
dedicated State revenue.