This bill amends current New Jersey law to mandate the preparation of a fiscal note for any legislation that establishes a new program or expands an existing program, as long as the costs are borne by the State or any political subdivision. Previously, fiscal notes were required only for bills that could potentially increase or decrease state expenditures or revenues. The new language specifically includes the creation and expansion of programs within the scope of this requirement.

The bill stipulates that once a bill is introduced and receives its first reading, the Legislative Budget and Finance Officer must review it. If the Officer determines that the bill may impact state finances, they are required to request a fiscal note from the Director of the Division of Budget and Accounting. This change aims to enhance fiscal transparency and accountability regarding the financial implications of new or expanded programs in state legislation.

Statutes affected:
Introduced: 52:13B-6