New Jersey legislation · 2026-2027 Regular Session
New Jersey A5268: General obligation bonds by loc. units-require pub referendum prior to issuance
Status: In committee, June 15, 2026
Requires public referendum prior to issuance of general obligation bonds by local units.
What the bill says
An Act concerning the issuance of general obligation bonds by local governments, amending various parts of the statutory law, and supplementing P.L.1960, c.169 (C.40A:1-2 et al.).
From the introduced text, June 15, 2026:
An Act concerning the issuance of general obligation bonds by local governments, amending various parts of the statutory law, and supplementing P.L.1960, c.169 (C.40A:1-2 et al.). Be It Enacted by the Senate and General Assembly of the State of New Jersey: 1. N.J.S.40A:2-12 is amended to read as follows: 40A:2-12. A bond ordinance shall contain in substance the following: a. (1) an authorization for the issuance of obligations, stating in brief and general terms sufficient for reasonable identification the purpose or purposes for which the obligations are to be issued, a statement of the estimated maximum amount of bonds or notes to be issued, and the estimated cost of such purpose or purposes, but related improvements or properties may be treated as one improvement or property; or (2) an authorization for the assumption by the local unit of the obligations of the authority sought to be dissolved pursuant to section 20 of P.L.1983, c.313 (C.40A:5A-20) for which the local unit is not a guarantor; b. a determination of the period of usefulness of the purpose within the limitations of this chapter or, if issued for several purposes, a determination of the average period of usefulness, taking into consideration the respective amounts of obligations authorized for the said several purposes; c. a determination that (1) the supplemental debt statement has been …
Sponsors
- John DiMaio (R, 23) · primary sponsor
- Dawn Fantasia (R, 24)
Latest actions
- : INT 1RA REF ASL
Subjects: LOCAL BUDGET AND FINANCE, BONDS
Common questions
- What is A5268?
- A5268 is a bill in the New Jersey Legislature (2026-2027 Regular Session): General obligation bonds by loc. units-require pub referendum prior to issuance.
- What does A5268 do?
- In its own words: An Act concerning the issuance of general obligation bonds by local governments, amending various parts of the statutory law, and supplementing P.L.1960, c.169 (C.40A:1-2 et al.).
- What is the status of A5268?
- In committee as of June 15, 2026. Latest action: INT 1RA REF ASL (June 15, 2026).
- Who sponsored A5268?
- John DiMaio (R, 23), with 1 co-sponsor.
- Where is the official record for A5268?
- On the New Jersey Legislature website: https://www.njleg.state.nj.us/bill-search/2026/A5268
Source: official New Jersey record. Tracked by Delilah, AI for legislation across all 50 states and Congress.