• NJ Trust Fund Receives $400 Million for Projects

    At the end of March, Governor Christie signed a bill to give New Jersey’s Transportation Trust Fund immediate access to a $400 million supplemental appropriation for road and transit projects. This additional funding comes as a result of the newly established gas tax, which adds an additional 23 cents to each gallon, to replenish the fund. With an allocation of $260 million for road and bridge projects and $140 million for NJ TRANSIT projects, the state Department of Transportation will have 100 days to decide which projects receive state funding. The Transportation Trust Fund now has access to roughly $2 billion in spending for the current fiscal year. Read more from NJ BIZ here.