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On June 30, 2025, Governor Phil Murphy signed into law the FY 2026 state budget (the “FY 2026 budget”), totaling $58.8 billion (see our prior alert New Jersey Enacts FY 2026 Budget: Key Takeaways). The FY 2026 budget...more
The latest budget passed by the New Jersey legislature and signed by term-limited Governor Phil Murphy quietly enacted changes to New Jersey’s Mansion Tax, which affects not only residential properties but commercial...more
The New Jersey state legislature has passed new legislation, as part of the State’s 2026 fiscal year budget, that directly and significantly impacts sellers and buyers of real property in New Jersey. Previously, a 1% fee...more
Last week, Tim Sullivan, CEO of the New Jersey Economic Development Authority (NJEDA), and Christine Guhl-Sadovy, president of the New Jersey Board of Public Utilities (BPU), presented their fiscal year (FY) 2026 budget...more
On May 5, 2025, New Jersey Department of Transportation (NJDOT) Commissioner Francis K. O’Connor, NJ Transit President and CEO Kris Kolluri, and Motor Vehicle Commission (MVC) Acting Chief Administrator Latrecia Littles-Floyd...more
On April 21, 2025, New Jersey Department of Education (NJDOE) Commissioner Kevin Dehmer testified before the Assembly Budget Committee to present the Department’s FY 2026 budget proposal. The proposal outlines a $22.2 billion...more
On April 3, 2025, New Jersey Department of Health (NJDOH) Commissioner Dr. Kaitlan Baston appeared before the Senate Budget and Appropriations Committee to present Governor Murphy’s proposed Fiscal Year 2026 State Budget for...more
In his final budget address, Governor Phil Murphy is proposing a $58.05 billion plan, with a strong emphasis on preserving funding for critical priorities while cutting spending on various programs. The address underscores...more
Following extensive deliberations and legislative actions, Governor Phil Murphy signed the Fiscal Year 2025 New Jersey Appropriations Act on Friday night, setting the state’s financial course for the upcoming fiscal year. The...more
NJDEP is tasked with a multitude of responsibilities including overseeing statewide environmental governance through the divisions of Water Resource Management, Air Quality Energy and Materials Sustainability, Contaminated...more
Fran O’Connor, acting commissioner of the New Jersey Department of Transportation (NJDOT); Kevin S. Corbett, president and CEO of NJ Transit (NJT); and Motor Vehicle Commission (MVC) Chief Administrator Latrecia Littles-Floyd...more
After a tumultuous week of drafting and negotiations on State Street, Governor Phil Murphy has signed into law the Fiscal Year 2024 New Jersey Appropriations Act, formalizing the State’s budget for the upcoming fiscal year....more
New Jersey Governor Phil Murphy and State Democratic leaders announced yesterday a revised fiscal year 2021 budget that raises the State’s gross income tax rate on income for families now earning between $1 million and $5...more