reprinted with permission of Blue Jersey
by: Sharon GR
The state could see $653 million less than expected in taxes this & next year, creating real problems for the proposed budget- instead of a surplus, we\’d be $53 million in the red. The prediction is based on \”unexpectedly weak\” income tax payments for January. Treasurer Bradley Abelow told lawmakers that the state is nowhere near solving its budget problems, blaming in particular the $2.7 billion/year spent on debt service.
- More fun with finances: municipal governments have to increase their contribution to public employee pensions next spring, to the tune of $383 million. Expect to see that reflected in property taxes. State aid to municipalities is increasing by only $32.6 million.
- Middlesex County Assemblyman Peter Barnes Jr. was cleared by the Senate Judiciary committee to become the new State Parole Board Chairman. The nomination now goes to the full senate on Thursday; Barnes is expected to resign his Assembly seat today.
- The Assembly State Government committee approved A3403, a bill which prohibits investment of State pension and annuity funds in foreign companies doing business in Iran. The bill is now in the Appropriations committee.
- There\’s a rumor out there that Atlantic City Republican Assemblyman Frank Blee will be switching political parties and has met with Gov. Corzine to discuss it.
- The NJ Turnpike Authority adopted the state ethics code yesterday for its officers and employees, restricting the employees from accepting gifts related to their jobs. Chairman Joseph Simunovich settled ethics charges in January, after being accused of accepting plane trips in exchange for endorsing contractors for projects.
- PoliticsNJ posted a good overview of the Senate race in the 12th district, Karcher v. Beck, called The Battle of Monmouth.
- Some doctors will be receiving a dividend on their notoriously-expensive malpractice insurance this year. NJ PURE, insurer of 900 doctors, announced a dividend for a third of their policyholders after a year of paying out less than expected on claims.
- The deputy superintendent of elections for Mercer County, Republican Steve Cook, has resigned after a year of not speaking with the Democratic Superintendent Bettye Monroe. Former county clerk Catherine DiConstanzo, also a Republican, has been nominated to replace Cook.
- The NJ winner of last week\’s Mega Millions lottery hasn\’t come forward yet. The ticket was sold in a Woodbine liquor store.
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