New Jersey Gov. Jon Corzine, along with state and local officials, yesterday touted legislation that would allow $2.5 billion of borrowing for school construction, with a portion of the state's income tax receipts backing the proposed bonding.

Assembly members Albert Coutinho and Grace Spencer, both Democrats, last week filed a bill that would allow the New Jersey Development Authority, which sells debt on behalf of the New Jersey Schools Development Authority, to increase its borrowing capacity for school infrastructure by $2.5 billion. The borrowing would allow the Corzine administration to meet a court mandate requiring the state to allocate additional funds for school construction projects in 31 special districts called Abbott districts.

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