Sponsored by:

Assemblyman DECLAN J. O'SCANLON, JR.

District 13 (Monmouth)

SYNOPSIS

Proposes amendment to State Constitution to provide that legislation having effect of enhancing public employee benefit must identify funding source to defray cost of benefit enhancement.

CURRENT VERSION OF TEXT

Introduced Pending Technical Review by Legislative Counsel

A Concurrent Resolution proposing to amend Article IV, Section IV of the Constitution of the State of New Jersey.

Be It Resolved by the General Assembly of the State of New Jersey (the Senate concurring):

1. The following proposed amendment to the Constitution of the State of New Jersey is agreed to:

PROPOSED AMENDMENT

Amend Article IV, Section IV by the addition of a new paragraph 6A to read as follows:

6A. In order to prevent the creation of an unfunded liability that may place a burden on the State's finances, any bill introduced in either House of the Legislature that has the effect of enhancing any pubic employee benefit shall identify a specific source of funds to defray the cost of providing that benefit enhancement.

2. When this proposed amendment to the Constitution is finally agreed to pursuant to Article IX, paragraph 1 of the Constitution, it shall be submitted to the people at the next general election occurring more than three months after the final agreement and shall be published at least once in at least one newspaper of each county designated by the President of the Senate, the Speaker of the General Assembly and the Attorney General, not less than three months prior to the general election.

3. This proposed amendment to the Constitution shall be submitted to the people at that election in the following manner and form:

There shall be printed on each official ballot to be used at the general election, the following:

a. In every municipality in which voting machines are not used, a legend which shall immediately precede the question as follows:

If you favor the proposition printed below make a cross (X), plus (+), or check (a) in the square opposite the word "Yes." If you are opposed thereto make a cross (X), plus (+) or check (a) in the square opposite the word "No."

b. In every municipality the following question:

		CONSTITUTIONAL AMENDMENT TO PROVIDE STANDARDS FOR PUBLIC EMPLOYEE PENSION SYSTEMS
	YES	Shall the amendment to Article IV, Section IV of the New Jersey Constitution, agreed to by the Legislature, providing that, in order to prevent the creation of an unfunded liability that may place a burden on the State's finances, any bill introduced in either House of the Legislature that has the effect of enhancing any public employee benefit shall identify a specific source of funds to defray the cost of providing that benefit enhancement, be approved?
		INTERPRETIVE STATEMENT
	NO	This constitutional amendment provides that legislation introduced in either House of the Legislature that has the effect of enhancing any public employee benefit must identify a specific funding source to defray the cost of that benefit enhancement. This would prevent the creation of unfunded liabilities that may place a burden on the State's finances.

STATEMENT

This concurrent resolution proposes a constitutional amendment to provide that legislation introduced in either House of the Legislature that has the effect of enhancing any public employee benefit must identify a specific funding source to defray the cost of that benefit enhancement. This would prevent the creation of unfunded liabilities that could burden the State's finances in the future. The bill's provisions are based upon testimony and other information received by the sponsor in his capacity as a member of the Joint Legislative Committee on Public Employee Benefits Reform.