New Jersey

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.

Democrats aim to scale back scheduled toll increases on the New Jersey Turnpike after Gov. Chris Christie terminated a Hudson River commuter-rail tunnel they were meant to help finance.

TRENTON — New Jersey Gov. Chris Christie Tuesday delivered his first state of the state address, pledging to reform the state’s tax structure and continue spending cuts.

New Jersey now has until Jan. 18 to repay $271 million to the Federal Transit Administration for a canceled commuter-rail tunnel. The previous deadline was Monday.

The New Jersey Economic Development Authority will issue $1.94 billion of refinancing debt Tuesday and Wednesday to switch variable-rate school facilities construction bonds into fixed-rate mode. The bonds are secured by the state’s appropriation pledge.

TRENTON , N.J. — New Jersey Gov. Chris Christie announced a plan Thursday to borrow $4.4 billion of bonds during the next five years to help finance road, bridge and mass-transit projects throughout the state.

New Jersey should issue $2.7 billion of general obligation bonds to help finance a backlog of capital projects at its public universities and colleges, according to a report released late Tuesday.

The Port Authority of New York and New Jersey last week recommended raising the roadbed of the Bayonne Bridge by 64 feet to provide more clearance for ships.

New Jersey’s Treasury Department announced Thursday that the state and its municipalities have a combined unfunded pension liability of $53.9 billion, an increase in 2010 of more than $8 billion.

The New Jersey Economic Development Authority Tuesday approved refinancing up to $3.69 billion of variable-rate school construction debt that will help the state terminate about $1.7 billion of derivatives tied to the floating-rate debt.

With an eye on its credit ratings, the Delaware River Port Authority chose to keep in place a $1 toll hike Wednesday that was set to begin July 1 after weeks of debate on whether to delay the increase to 2012.