New Jersey

Moody’s Investors Service Monday said that New Jersey’s new 2% property tax cap is a credit negative for the state’s local governments as those municipalities are already facing lower tax collections and rising employee costs.

New Jersey Transit Wednesday approved a $1.79 billion operating budget and a $1.35 billion capital plan for fiscal 2011, which began July 1.

New Jersey’s Local Finance Board approved an initiative Wednesday to create a new utility bonding authority for the state’s largest city, as Newark Mayor Cory Booker said the agency was needed to avoid tax hikes of 35%.

New Jersey Gov. Chris Christie today is set to sign an initiative to limit annual property tax increases to 2% in the state, which has some of the nation’s highest taxes.

New Jersey officials are working on redeveloping an Army base in Monmouth County to revamp the site for civilian use and transform it into a center of economic activity in the region.

New Jersey Gov. Chris Christie announced an alternative, statutory property-tax cap initiative Thursday that would not amend the state’s constitution, opening the door for a potential bipartisan agreement on the divisive issue.

New Jersey Gov. Chris Christie Tuesday signed into law a $29.38 billion spending plan that includes debt restructuring to move costs into future years and skips a $3 billion contribution to the state pension plan.

Morgan Stanley will serve as book-runner on a New Jersey general obligation refinancing deal set to price in the third quarter, beating out 21 other firms for the senior management seat.

The Port Authority of New York and New Jersey is looking to reserves to provide self-liquidity for its commercial paper program, officials said Tuesday.

New Jersey lawmakers Monday evening announced a bipartisan fiscal 2011 budget deal similar to the spending plan that Gov. Chris Christie filed in March.

The New Jersey Educational Facilities Authority is seeking requests for qualifications to provide it with post-issuance analysis for tax-compliance issues.

A Port Authority of New York and New Jersey official reassured New Jersey lawmakers yesterday that the agency is moving quickly to update or replace the Bayonne Bridge, a move that would potentially increase shipping activity in the area.

New Jersey is juggling two different underwriting-selection processes as it prepares for a new-money Transportation Trust Fund Authority deal and a general obligation refinancing.

Newark, the largest city in New Jersey, Wednesday will sell $175.3 million of debt via competitive bid in its first new-money general obligation bond sale in several years.

New Jersey is seeking investment banking services for a general obligation refinancing as it also gears up for a new-money transportation deal this summer.

New Jersey Gov. Chris ­Christie yesterday pushed his proposed constitutional amendment to hold property tax increases at 2.5% and warned that without fiscal controls, the state could be the next Greece, as Treasury Department officials announced a $540 million revenue shortfall for fiscal 2010 and fiscal 2011.

New Jersey Gov. Chris Christie today will discuss his proposed constitutional amendment to place a 2.5% cap on property tax increases.

New Jersey Gov. Chris Christie Thursday vetoed two bills that would have increased taxes on individuals earning $1 million or more and restored property tax rebates for senior citizens.

The Port Authority of New York and New Jersey is pioneering a unique type of public-private partnership to replace the aging Goethals Bridge.

The New Jersey Educational Facilities Authority is looking for financial advisory services for a one-year period with an option to renew for a second year.