New Jersey

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.

Democratic lawmakers and Amtrak Monday announced a $13.5 billion plan to increase rail service between New Jersey and Manhattan by building two new train tunnels underneath the Hudson River.

Legislation that would reduce New Jersey Turnpike Authority tolls prompted a conference call Friday between the agency and Moody’s Investors Service.

The New Jersey Turnpike Authority could roll back toll increases to reflect $1.25 billion it no longer needs to spend on a canceled mass transit tunnel project and still meet contractual debt-service coverage levels, according to an analysis from the Office of Legislative Services.

The New Jersey Economic Development Authority approved on Tuesday a financing plan with $261 million of tax incentives to help revive the stalled Revel casino project in Atlantic City.

New Jersey is seeking underwriting services as the state’s Transportation Trust Fund Authority plans to issue $600 million of tax-exempt, new-money bonds by April 15 to help finance roads, bridges, and public transportation.

Moody’s Investors Service is considering downgrading the Port Authority of New York and New Jersey because of its need to continue borrowing money to finance transportation projects even as toll collections and airport fees grow slowly.

New Jersey is looking for swap advisory services to help it monitor and address its $3.3 billion derivative portfolio.

New Jersey Transit formally rejected a $271 million repayment demand Tuesday from the Federal Transit Administration, which is seeking to recover funds allocated for a canceled $8.7 billion mass-transit tunnel.

New Jersey finance officials may head back to the municipal bond market in the next three weeks to finish a $1.94 billion school construction bond refinancing that was downsized earlier this month due to unfavorable pricing conditions.

The Port Authority of New York and New Jersey plans to competitively market $300 million of tax-exempt bonds on Thursday.