State Of New Jersey

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State of New JerseyThe Governor’sFY 2019 BudgetBudget in BriefPhilip D. Murphy, GovernorSheila Y. Oliver, Lt. GovernorElizabeth Maher MuoioActing State TreasurerDavid A. RidolfinoActing DirectorBrian E. FranczDeputy DirectorLynn M. AzarchiAssistant DirectorJacki L. StevensAssociate DirectorCarisa M. MaroneAssistant DirectorOffice of Management and BudgetMarch 2018This document is available via the Internet at http://www.state.nj.us/treasury/omb/

Table ofContentsState of New Jersey FY 2019 Budget in BriefA Letter from Governor Philip D. Murphy . 1Building a Stronger and Fairer New Jersey . 3Investing in our Future . 3Driving Economic Growth. 4Meeting Obligations . 5Affirming New Jersey Values . 6The Fiscal 2019 Budget . 7A Summary of the State Budget . 7Pre-K to 12 Education . 8Higher Education .10Workforce Training.10Tax Relief for Working Families .11Health Care.12Transportation .15Environment .15Our Criminal Justice System .16Property Tax Relief .17Community Affairs .19Pension and Benefits Systems .19Fiscal 2019 Revenues .21Millionaire’s Tax .21Business Tax Modernization.21Other Tax Changes .22Tax Relief for Families and Homeowners .22Gross Income Tax.24Sales Tax .25Corporation Business Tax .26Tables and Schedules .27Appendix.31

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Chapter 1A Stronger and Fairer New JerseyBuilding a Stronger and Fairer New JerseyThis budget represents a new trajectory for New Jersey and directs our resources to create a strongerand fairer future. It sets us on a bold path that will open doors for families, students, and buddingentrepreneurs. This budget acknowledges the critical investments that we must make in ourinfrastructure and talent to make New Jersey a compelling place to live and work.After the previous eight years, we are at the bottom of a deep hole from which we must pull ourselvesout. New Jersey’s unemployment rate is still nearly a full percentage point above the national average.Our credit rating has been downgraded eleven times since 2010. We remain in the minority of stateswhose revenue performance has yet to achieve its pre-Great Recession peak.This Administration is ready to turn our State around. This budget builds the foundation for a betterfuture, and it lays out the bold steps that must be taken to regain the trust of our residents, grow oureconomy, emphasize innovation, and strengthen our middle class.Investing in our FutureThis Administration knows that New Jersey needs a world-class education system to support ourstudents and grow our economy. The budget makes significant investments in pre-K resources,increases state funding for K-12 districts, expands access to community colleges, and bolsters criticalstudent aid.Supporting All Students Following the Funding Formula: Governor Murphy is committed to providing schoolswith the resources they need by following our Supreme Court-approved funding formula. TheGovernor is committed to putting New Jersey’s schools on the path to full funding withinfour years, and is proposing an additional 283 million in formula aid. School districts will seeenhanced formula-based aid this year, with no district or charter school receiving less State aidthan it did last year. We must ensure that New Jersey’s students continue to grow and learn,and moving toward funding the formula is critical to that goal.Expanding Pre-K: The Murphy Administration recognizes that providing our youngestlearners with high-quality early education will have long-lasting benefits. This budget invests alandmark 57 million in new pre-K funding, the largest increase in over a decade. This fundingcontinues to support fiscal 2018 expansion districts and focuses on additional districts thatcan launch programs quickly and effectively, and over 3,500 four-year-olds are expected togain access to pre-K this year. The Department of Education will also use this year to assistadditional districts to prepare for future expansion.Expanding STEM Education: The Governor proposes a 2 million grant program to helphigh schools offer college-level Computer Science courses and to support teachers’professional development. The budget also provides start-up funding for STEM-focused highschools that allow students to earn advanced degrees while preparing them for high-skilledjobs. Further along the education continuum, New Jersey will launch a loan forgivenessprogram this year for STEM graduates who remain in the State.3

A Stronger and Fairer New JerseyChapter 1Making Higher Education Affordable Pursuing Tuition-Free Community College: This budget reduces the financial obstaclesto earning an associate’s degree. Governor Murphy is proposing a 50 million investment toestablish new assistance programs for recent high school graduates and adults who have yetto complete their degrees. Starting in Spring 2019, nearly 15,000 more students from familieswith incomes below 45,000 will be able to attend tuition-free. Some of this investment willbe used to build new capacity at our community colleges, so that they can expand free tuitionprograms and assist all students with degree completion.Strengthening Student Aid: Governor Murphy will strengthen Tuition Aid Grants (TAG)and the Educational Opportunity Fund (EOF). The additional funding will provide forapproximately 3,500 new TAG grants and bolster support for the EOF program.Driving Economic GrowthThis budget will both strengthen New Jersey’s economy and make it fairer by investing in the middleclass and those hoping to join it. It includes record funding for our transit system, so that NewJerseyans can safely commute and spend less time burdened by traffic and train and bus delays. Itemphasizes connecting all residents to meaningful work through better training and newopportunities, and it combines increased wages with additional tax relief for our low- and middleincome workers.Rebuilding Infrastructure Fixing NJ Transit: This budget increases funding for NJ Transit by 242 million, or 172percent. Almost half of this money will be used to immediately address structural deficits andrevenue shortfalls. The other half will be used to ensure a well-trained and adequately staffedworkforce, and to support light rail, rail, and bus operations. This is the largest State paymentin NJ Transit’s history and is more than four times the average annual subsidy duringGovernor Christie’s final term. This Administration will ensure that this investment providesNJ Transit riders with the safe and reliable service they deserve.Upgrading IT Infrastructure: This budget will provide 10 million to begin addressingcritical information technology upgrades across State government.Creating Opportunity Raising the Minimum Wage. This budget plans for a Statewide increase to a 15 minimumwage, including an increase to 11 per hour in fiscal 2019. When fully phased-in, raising theminimum wage to 15 an hour will boost the incomes of 1.2 million New Jerseyans.Increasing the Earned Income Tax Credit (EITC): The Governor is committed tohelping over 510,000 low-income families by allocating an additional 27.2 million to increasethe EITC this year. Over time, the State will eventually provide eligible families with 40 percentof the federal credit for an average benefit of over 1,160.Creating a Child and Dependent Care Tax Credit: Too many New Jersey families strugglewith balancing work and caring for their loved ones. Governor Murphy proposes a new tax4

Chapter 1 A Stronger and Fairer New Jerseycredit tied to the federal program to help over 70,000 New Jerseyans. It will provide familiesearning less than 60,000 with assistance to support the care of a child or other dependentwhen necessary for the taxpayer’s employment.Raising the Property Tax Cap: Governor Murphy supports bipartisan legislation to raisethe deduction from state income taxes to 15,000. This will benefit over 500,000 taxpayersacross the State.Reinvigorating the Workforce Development Partnership Program (WDPP): TheDepartment of Labor and Workforce Development will use over 30 million of currentWDPP funds to create the New Jersey Career Network, revamp apprenticeship and on-thejob-training options, and upgrade current workers’ skills.Strengthening Community Development: The budget provides funding to the Departmentof Community Affairs for the Main Street NJ and Neighborhood Preservation Programrevitalization initiatives. The Governor will also expand the Neighborhood Revitalization TaxCredit (NRTC) to offer 15 million for partnerships between businesses and communityorganizations.Meeting ObligationsNew Jersey must become a state that people trust again, and the Governor is committed to restoringour State’s fiscal health. This budget recognizes that the middle-class can no longer shoulder theburden while seeing less in return. Mindful of the need to restore fairness and balance, this budgetresets the equation and asks those of means to contribute slightly more so we can responsibly investin our State’s core values.Fulfilling our Promises Funding State Pensions: Governor Murphy will put 3.2 billion towards pensions this year,a 28% increase over last year’s contribution. This year’s contribution is larger than the total ofall contributions made during the last administration’s first term.Promoting Responsible Budgeting: This budget furthers New Jersey’s efforts to build aresponsible surplus. The Governor knows that we must prepare for adverse events and avoidannual shortfalls to be a fiscally healthy state.Balancing our Tax System Bolstering the Income Tax: This budget includes a millionaire’s tax, so that all NewJerseyans pay a fair share of revenues. The budget also proposes a fee on carried interest toend an unjust advantage for Wall Street earnings.Modernizing the Corporate Business Tax (CBT): This budget proposes a new businesstax model that will close loopholes and benefit small businesses through a fairer system basedon combined reporting. Stabilizing Revenues: This budget restores the sales tax to seven percent, along withadditional tax changes, in part to stabilize the General Fund.5

A Stronger and Fairer New JerseyChapter 1Affirming New Jersey ValuesWe are at our best when we stand up for our shared values and do all we can to improve our fellowresidents’ quality of life. These values lie at the heart of a stronger and fairer New Jersey. This budgettakes multiple steps to advance social justice, public health, and environmental protection.Ensuring Social Justice Legalizing and Taxing Marijuana: This Administration plans to legalize adult-usemarijuana by January 1, 2019. The State will also move forward with expanding access tomedical marijuana to alleviate patient suffering. Governor Murphy is ready to end the cycle ofnon-violent, low-level drug offenses holding individuals back.Providing Legal Service Assistance to Immigrants: The Governor will support NewJersey residents against Washington attacks by allocating 2.1 million to support non-profitgroups providing legal assistance to those facing detention or deportation.Improving Public Health Confronting Gun Violence: In February, the Governor founded the bipartisan States forGun Safety coalition. As part of this initiative, New Jersey will establish the Center on GunViolence Research to provide deeply needed research on this public health problem. TheGovernor’s budget also recommends raising firearm fees, many of which have not beenupdated since the 1960s.Protecting Women’s Health: The Governor is proud to have restored 7.5 million in fundsfor women’s health care centers and expanded access to family planning services in his firstbill signings. Funding for these programs will be continued in the Governor’s fiscal 2019budget.Addressing the Opioid Epidemic: Overdose deaths surged in New Jersey last year, andover 2,200 of our residents died between 2016 and 2017. The Governor is committing tospend 100 million on a coordinated strategy that prioritizes data-driven policy and integratedbehavioral care, as well as addressing social risk factors including unemployment andhomelessness.Expanding Autism Services: This budget includes 8.5 million towards implementingcomprehensive Autism Spectrum Disorder (ASD) services for Medicaid-eligible youth. Thisfunding will help over 10,000 New Jersey families by covering a range of behavioral andphysical supports.Protecting our Environment Restoring Environmental Programs: This budget begins restoring clean energy spendingby dedicating 5 million to the Energy Savings Improvement Program (ESIP) to driveimportant energy efficiency projects in state government. The Department of EnvironmentalProtection will implement key priorities, including re-entering the Regional Greenhouse GasInitiative (RGGI) and focusing on environmental justice concerns.6

Chapter 2The Fiscal 2019 BudgetThe Fiscal 2019 BudgetA Summary of the State BudgetThe fiscal 2019 budget presented by Governor Murphy recommends appropriations totaling 37.4billion. To begin addressing years of chronic underfunding in multiple critical areas, this budget callsfor appropriations that are 4.2% higher than the fiscal 2018 adjusted appropriation.FY 2019 Budget(In Millions)FY 2018AdjustedApprop.Opening Budgetary SurplusOpen Space Reserve*RevenuesIncomeSalesCorporationOtherTotal RevenuesFY 2019BudgetChange % 78673 73849 14,98010,3342,2007,963 .0) 35,477 37,4972,0205.7Lapses368-Total Resources 36,704 38,284AppropriationsOriginalSupplemental 34,6701,247 37,418-2,7487.9Total Appropriations 35,917 37,4181,5014.2Open Space ReserveProjected Budgetary Fund Balance(49) 738(123) 743* Open Space funding from the constitutional dedication of Corporate Business Tax revenues is not part of the annual AppropriationsAct and is separately appropriated by the Legislature.7

The Fiscal 2019 Budget Chapter 2Nearly half of the State budget will bedistributed as school aid to districts,or municipal aid payments to townsand cities across New Jersey.Appropriations of this type arereferred to in the budget as State Aid,and total 16.3 billion.Over half of the remaining budget, or28.6% of the total, is used by Stategovernment to purchase services thatdirectly benefit citizens in need.These services, which include healthcare coverage for low-incomeresidents and community basedsupport for those with disabilities, arecategorized as Grants-In-Aid andtotal 10.7 billion.Debt Service (excluding schoolconstruction, which is a form of StateAid)willbe 2.8billion,approximately 7.5% of the budget.ExecutiveOperations,whichrepresents the various direct costs ofrunning State government, is 3.6billion, or 9.6% of the total fiscal2019 budget.Building the FY 2019 Budget(In Billions)Grants-In-Aid 10.728.6%Executive Operations 3.69.6%State Aid 16.343.6%State EmployeeBenefits, Rent &Utilities 3.18.3%Debt Serviceexcluding SchoolConstruction 2.87.5% 37.4 billionCapital 0.10.3%Legislature &Judiciary 0.82.1%Executive Operations: includes adult prison and juvenile facilities, State Police andlaw enforcement, children and families, human services institutions, and veterans’homes.Grants-In-Aid: includes property tax relief programs, NJ FamilyCare, PAAD,nursing home and long-term services and supports, and support for higher education.State Aid: includes education aid programs, school construction debt, municipal aid,general assistance, and aid to county colleges.New Revenue Sources Will Support Critical Investments(in millions)Millionaire'sTax, 765The revenues that will support the fiscal2019 budget are anticipated to be 37.5billion. These estimates represent growthof 5.7%, or 2 billion, over revised fiscal2018 figures. Increased revenues includenot only growth from existing sources, butalso assume new revenue initiatives thatwill provide the resources to fund muchneeded investments that will strengthenNew Jersey.Pre-K to 12 EducationRestoring theSales Tax, 581Business TaxModernization, 110LegalizingMarijuana, 808The fiscal 2019 budget provides 14.9billion in funding for pre-K to 12education (including 805.8 million inadditional support from the LotteryEnterprise Contribution Act), an increaseof almost 933 million over the previous

Chapter 2The Fiscal 2019 Budgetyear. This includes an increase in direct payments for education for pens

burden while seeing less in return. Mindful of the need to restore fairness and balance, this budget resets the equation and asks those of means to contribute slightly more so we can responsibly invest in our State’s core values. Fulfilling our Promises Funding State Pensions: Governor Murphy will put 3.2 bi llion towards pensions this year,

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