NJ Senate releases FY2024 budget hearing schedule

Sen. Paul Sarlo, D-36th District and chairman of the Senate Budget and Appropriations Committee, announced March 15 his committee’s hearing schedule to begin deliberations for Gov. Phil Murphy’s proposed $53.1 billion Fiscal Year 2024 state spending plan.

The budget season schedule kicks off with a public hearing March 21 at Ramapo College.  That will be followed by a remote public hearing held next month.

Throughout the spring, all other hearings will be held at the Statehouse annex in Trenton. Those will include testimony from various departments from across Garden State government, with two sessions slated with State Treasurer Elizabeth Maher Muoio and budget officials from the Office of Legislative Services who will provide more insight about economic trends and forecasts.

“We want to get direct input on how the state budget will be used to address the needs and priorities of the people of New Jersey,” said Sarlo in a press release announcing the schedule. “We are in a strong position because of the effective management of state finances, and the governor has presented a quality proposal that we can work with.”

The headlines from that proposed budget, which NJBIZ has reported, include a sunsetting of the Corporate Business Tax surcharge, a proposed $10 billion surplus, another $2 billion for the ANCHOR Property Tax Relief Program, a full pension payment, no NJ Transit fare increases, a proposed Boardwalk Fund, $50 million in continued support for the Main Street Recovery Program, and much more.

“Our top priority is to support sustainable ways to make the lives of the state’s residents more affordable, to make strategic investments that expand economic opportunities, and to be prepared for any fiscal challenges in the economy,” Sarlo added.

All hearings will be available to be streamed live and archived on the Legislature’s home page.