Budget Committees Approve FY 2011 State Budget
By John Ratico Jr., John Sells Jersey
(RE/MAX Tri County)
Budget Committees Approve FY 2011 State Budget The Senate Budget and Appropriations Committee and Assembly Budget Committee have approved S-3000, the Fiscal Year (FY) 2011 state budget. S-3000 closes an approximately $11 billion budget shortfall with no new tax increases through a series of spending cuts. The state budget is scheduled to be considered by the full New Jersey General Assembly and Senate on Monday, June 28, 2010 - two days before the constitutional deadline for the state budget to be formally adopted. In addition, the Senate Budget and Appropriations Committee approved S-29, which reduces the amount that property taxes can increase from 4 percent a year to 2.9 percent with certain exceptions. This legislation must be considered by the full Legislature before being sent ...
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