New Jersey

The Port Authority of New York and New Jersey has selected three consortiums to bid on a $1.5 billion replacement of the Goethals Bridge.

New Jersey Gov. Chris Christie Tuesday directed the Legislature to find $500 million of additional school spending in his fiscal 2012 budget after the state Supreme Court ruled that his proposed funding for schools is unconstitutional.

New Jersey Treasury Department officials Tuesday announced the state will collect $511 million more in revenue this year and next than previously expected.

WASHINGTON — A federal court in New Jersey has approved UBS Financial Services Inc.’s $47.2 million settlement with the Securities and Exchange Commission over bid-rigging of municipal bond-related contracts as well as the amounts of restitution that are to go to each of 105 state and local issuers that were defrauded.

Acacia Financial Group will assist New Jersey on restructuring New Jersey Sports and Exposition Authority bonds to reduce debt-service costs in fiscal 2012.

The New Jersey Transportation Trust Fund Authority Wednesday will issue $600 million of state appropriation-backed debt after Moody’s Investors Service downgraded such bonds last week to A1 from Aa3.

Electronic giant Panasonic Corp. will move its headquarters to Newark from Secaucus with the help of $102.4 million of tax breaks from the state.

Standard & Poor's last week revised its outlook to positive from stable for AHS Hospital Corp., which operates three facilities in northeastern New Jersey. The rating is A.

As New Jersey gears up for a $600 million Transportation Trust Fund Authority bond issue set to price in early May, it faces a municipal market looking to draw investors back into the fold.

The New Jersey Transportation Trust Fund Authority Tuesday is expected to approve the sale of $600 million of tax-exempt revenue bonds that would price in early May.

New Jersey Treasurer Andrew Sidamon-­Eristoff Tuesday told lawmakers that Gov. Chris Christie would not sign a fiscal 2012 budget that includes a tax hike on the state’s top earners.

The New Jersey Office of Legislative Services Monday said its fiscal 2012 revenue estimates are similar to the governor’s projections, but cautioned that next year’s budget may need to include additional spending for schools.

New Jersey is seeking a financial adviser to assist the state on an upcoming New Jersey Sports and Exposition Authority bond restructuring deal that will help reduce debt service costs in fiscal 2012.

Gov. Chris Christie proposes allocating $140 million of funds in fiscal 2012 to support $1.18 billion of New Jersey Transportation Trust Fund Authority borrowing.

New Jersey residents are split over whether they approve Gov. Chris Christie’s $29.4 billion budget proposal, according to a Rutgers-Eagleton Poll released last week. Of the 912 adults polled, 48% are displeased with the fiscal 2012 spending plan while 45% approve of it.

In the 1930s, motorists paid 50 cents to drive through the Holland Tunnel, and a night at the Hotel Chesterfield in Jersey City cost $2.50.

New Jersey residents in fiscal 2009 paid the highest state and local taxes in the U.S., according to report released last week from the Tax Foundation.

TRENTON — New Jersey Gov. Chris Christie Tuesday released a $29.4 billion spending proposal for fiscal 2012 that includes property-tax relief — if the Legislature passes health-care reform legislation.

New Jersey’s independent local authorities should increase their transparency by posting annual financial reports and public meeting information online, according to state Comptroller Matthew Boxer.

Standard & Poor’s Wednesday downgraded New Jersey’s general obligation credit rating to AA-minus from AA due to its unfunded pension liability and high debt levels.