FY2010 STATE BUDGET

FAST FACTS

Total Appropriations: $28.9 billion

Anticipated Surplus: $500 million

A Fiscally Responsible Budget
-$3.9 billion less than last year’s budget as signed.
-$2 billion less than the budget passed three years ago.
-$850 million less than the budget Governor Corzine proposed in March.
-Over the past four years, slowest rate of growth in modern state history.

Maximizing Property Tax Relief
-More than half of the entire budget – $15+ -- will go to property tax relief.
-$12.9 billion for schools and municipalities; $1.7 billion in direct relief to taxpayers.
-Maintains property tax rebates averaging $1,295 for senior citizens and residents with disabilities.
-More than 168,000 seniors and disabled – including roughly 40,000 first-time recipients – will benefit from $173 million in expanded Senior Freeze.
-520,000 non-senior households will receive property tax rebates.
-Maintain property tax deduction for all senior citizens and residents with disabilities, as well as all non-seniors with incomes up to $250,000.

Protecting Health Care
-$950 million in total aid to hospitals.
-$605 million for charity care.
-Eliminates proposed Medicaid and AIDS Drug Distribution Program prescription drug co-payments.
-Ensures NJ FamilyCare will provide health insurance and doctor visits for more than 300,000 children.
-Funds more than 10 million patient days at nursing homes and 2 million medical day care days at facilities across the state.

Investing in Education
-$276 million more going into New Jersey’s classrooms.
-$2.2 billion in funding to colleges and universities.
-Responsibility funds new school aid formula – the first such funding law to be ruled constitutional by the New Jersey Supreme Court in three decades.
-Restores $10 million in funding for adult education.
-$364 million in direct assistance for more than 67,000 college and university students (Tuition Aid Grants, NJ STARS, EOF) – an increase of $34 million.

Repositioning New Jersey for Economic Growth-invests $1.1 billion in federal stimulus money to protect core programs and values.
-$3.6 billion in transportation capital programs – putting people to work to create stronger infrastructure.
-$194 million in BEIP grants for businesses to retain and attract new jobs.