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Department of the Treasury

Treasury Press Releases

Date Title Link Type
Date Title Link Type
Sept
27

The NJ Treasury Department announced today that Assistant State Treasurer Dini Ajmani departed from the Treasurer’s Office on September 24, after serving nearly four years in this role, to take on a position in the U.S. Treasury as Deputy Assistant Secretary for Capital Markets.

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Sept
15

The Department of the Treasury reported that August revenue collections for the major taxes totaled $2.446 billion, up $488.7 million, or 25.0 percent above last August. Year-to-date, total collections of $2.780 billion are up $659.8 million, or 30.8 percent above the same two initial months last year.

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Sept
14

The New Jersey Department of the Treasury's Division of Investment issued the following statement today regarding State pension fund holdings in Unilever plc, the parent company of Ben & Jerry's:

"Following the letter and spirit of the law, the State of New Jersey's Division of Investment, working with its independent consultant, ISS, conducted a review of the actions of Ben & Jerry's and its parent company, Unilever, to determine whether such actions constituted a boycott of Israel or companies operating in Israel or Israeli-controlled territory. Following this review, the division reached a preliminary determination that Unilever's actions did in fact constitute such a boycott and sent a letter to Unilever notifying the company of its provisional determination. Upon final determination, no pension fund assets may be invested in the company, and DOI shall take appropriate action to sell or divest any existing pension fund investments," said Shoaib Khan, Director of the NJ Division of Investment.

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Sept
9

(Lower Alloways Creek, NJ) – Governor Phil Murphy today joined U.S. Secretary of Labor Marty Walsh, Senate President Stephen Sweeney, President of the New Jersey State Building & Construction Trades Council Bill Mullen, AECOM Tishman Community Relations Director Flora Ramos, elected officials, union leaders, environmental advocates, private sector partners, and representatives of the offshore wind industry for the groundbreaking of the New Jersey Wind Port, a first-in-the-nation infrastructure investment that will provide a location for essential staging, assembly, and manufacturing activities related to offshore wind projects on the East Coast.

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Sept
9

(TRENTON) – State Treasurer Elizabeth Maher Muoio announced today that the New Jersey Division of Taxation is following the lead of the IRS and extending tax filing and payment deadlines for certain taxpayers impacted by Tropical Storm Ida.

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Aug
26

(TRENTON) – The NJ Treasury Department announced today that Deputy State Treasurer Catherine Z. Brennan will be departing the Treasurer's Office on September 17, after 27 years of service to the State of New Jersey, to assume the new role of Senior Vice President /Chief Financial Officer for New Jersey Institute of Technology (NJIT).

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Aug
24

(TRENTON) – After a thorough review of fuel consumption statistics and consultation with the Legislative Budget and Finance Officer, the Department of the Treasury announced on Tuesday that New Jersey’s gas tax rate will decrease by 8.3 cents per gallon beginning October 1 to comport with the 2016 law that requires a steady stream of revenue to support the State’s Transportation Trust Fund (TTF) program.

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Aug
16

(TRENTON) – The New Jersey Department of the Treasury announced today that reforms instituted across the School Employees’ Health Benefits Program (SEHBP) in recent years have led to sizable reductions in projected premium rates for next year, including a first-ever one-month contribution “holiday” that will save participating employees and school districts over $100 million.

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Aug
13

(TRENTON) – The Department of the Treasury today reported that July revenue collections for the major taxes totaled $2.491 billion, down $2.645 billion, or 51.5 percent below last July. This decline was anticipated because last July was atypical, witnessing heightened collections due to the fact that the state and federal government extended the tax filing deadline for individual and corporate taxpayers from April 15 to July 15 in light of the COVID-19 pandemic.

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Aug
12

(TRENTON) – Governor Phil Murphy, Acting Governor Sheila Oliver, and State Treasurer Elizabeth Maher Muoio today praised the decision by Fitch Ratings to upgrade the outlook for New Jersey’s general obligation bonds from negative to positive.

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Aug
10

(TRENTON) – A team of more than 60 investigators from the New Jersey Department of Labor and Workforce Development (NJDOL) and the Department of the Treasury, supported by other state agencies, conducted an unannounced investigation of a construction site at 88 Regent Street in Jersey City in response to allegations of worker misclassification.

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Aug
4

(TRENTON) – Governor Phil Murphy and State Treasurer Elizabeth Maher Muoio welcome the decision by S&P Global Ratings to upgrade the outlook for New Jersey's general obligation bonds from stable to positive. 

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July
15

(TRENTON) – The New Jersey Lottery Commission held its July Commission meeting last week and announced its unaudited results for the fiscal year that ended on June 30, 2021, posting a record $3.68 billion in sales, the highest in Lottery history and 14.6% higher than Fiscal Year 2020. 

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July
13

(TRENTON) – Governor Phil Murphy and State Treasurer Elizabeth Maher Muoio today applauded the decision by Moody’s Investors Service to upgrade the outlook for New Jersey’s general obligation bonds from stable to positive. 

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July
1

(TRENTON) – State Treasurer Elizabeth Maher Muoio announced that the Treasury Department today kicked off the start of the new fiscal year by paying the full state-funded portion of the $6.9 billion pension contribution slated for Fiscal Year 2022 (FY 2022). This marks the first time in more than 25 years that New Jersey is making the full Actuarially Determined Contribution to the Pension Fund, plus an additional $505 million contribution, and also the first time in years that the state has made a lump sum payment, rather than quarterly payments. 

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June
29

(WOODBRIDGE) – Governor Phil Murphy signed the Fiscal Year 2022 (FY 2022) Appropriations Act into law today, working in partnership with the Legislature to develop a responsible and bold budget that meets the State’s current and future obligations, makes New Jersey more affordable for working and middle-class families, provides record investments in education, supports an inclusive pandemic recovery, and invests in small businesses and long-term economic growth. 

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June
21

(TRENTON) — Today, Governor Murphy, Senate President Sweeney, Speaker Coughlin, Senate Budget Chair Sarlo, and Assembly Budget Chair Pintor Marin announced an agreement on key middle-class tax relief and property tax relief measures in the Fiscal Year 2022 Budget.

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June
14

(TRENTON) — The Capital City Redevelopment Corporation (CCRC) Board today announced that it has approved initiating the public adoption process for the draft update to its Renaissance Plan. The Renaissance Plan was first adopted in 1989 to fuel economic development within Trenton's Capital District and to make the area a more attractive place to live, work, play, and conduct business. The update is designed to reflect changes in the social, economic, and natural environment over the last 30 years and to provide a guide for the Capital District into the future.

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June
9

(TRENTON) — State Treasurer Elizabeth Maher Muoio delivered a written revenue update to the Assembly Budget Committee today, announcing that revenue collections are expected to hit an all-time high, bolstered by economic activity which has recovered more than a year earlier than national forecasters predicted just six months ago.

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May
18

(TRENTON) — The New Jersey State Treasurer's Office announced today that it will be hosting the Treasurer's Symposium on COVID, Women and the Economy: Avoiding the Next "She-cession" on Friday, June 4, 2021.

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May
17
More Detailed Revenue Update to Come in June After Tax Payments, Delayed by Filing Deadline Extension, have been Processed

(TRENTON) — State Treasurer Elizabeth Maher Muoio testified before the Assembly Budget and Appropriations Committee today, providing an update on the Department of the Treasury's departmental operations, with a brief update on the state's revenue situation. Due to the extension of the tax filing deadline to May 17, a more detailed revenue update will be provided in the first half of June after the bulk of payments have been processed. Below is the Treasurer's testimony, as prepared for delivery.

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May
14

(TRENTON) — The Department of the Treasury reported that April revenue collections began what will effectively be a two-month filing season, as many taxpayers elected to postpone the traditional filing of April tax returns due to the extension of the filing deadline to May 17.

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May
12

(TRENTON) — New Jersey Department of the Treasury’s Division of Investments Director Corey Amon announced Tuesday that he is resigning his position, effective June 4, to pursue a new opportunity. Shoaib Khan, Deputy Director of the Division, will serve as Acting Director following Amon’s departure to ensure a seamless transition in order to protect the retirement of hundreds of thousands of public employees.

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May
7
Collaboration across State agencies key to coordinated improvements.

(TRENTON) — In response to a report issued by Governor Murphy’s Task Force on Employee Misclassification, the New Jersey Department of the Treasury has made significant strides to deter misclassification by organizations that do business with the State in order to help address the underlying causes that lead to ever-widening income inequality.

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May
5

(TRENTON) — During National Small Business Week, State Treasurer Elizabeth Maher Muoio announced that the Department of the Treasury will be indefinitely waiving the $100 filing fee to become certified as a Small, Minority, Woman, or Veteran-owned Business Enterprise (SMWVBE).

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Apr
29

(TRENTON) — The Department of the Treasury conducted the successful refinancing of previously issued Transportation Trust Fund Authority (TTFA) bonds this week, bringing the total savings secured for New Jersey taxpayers under the Murphy Administration to just over $1 billion.

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Apr
16

(TRENTON) — The Department of the Treasury today reported that March revenue collections for the major taxes totaled $2.821 billion, up $933.5 million, or 49.4 percent, over last March. Fiscal year-to-date, total revenue collections of $24.314 billion are up $1.916 billion, or 8.6 percent above the same nine-month period last year.

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Apr
10

(TRENTON) – State Treasurer Elizabeth Maher Muoio released the following statement on the decision by Moody’s Investor Services to upgrade New Jersey’s outlook from negative to stable due to the better than expected revenue performance in Fiscal Year 2021, and the expectation that large resulting fund balances will support budget flexibility through the coronavirus recovery:

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Apr
6

Revenues Projected to Grow By 4% for FY2022 After Volatile Nationwide Forecasting Year;
Key Investments in Gov. Murphy’s Proposed Budget Will Help NJ Rebound from Pandemic Stronger & More Resilient
(TRENTON) – State Treasurer Elizabeth Maher Muoio testified before the Senate Budget & Appropriations Committee at the State House today, providing a detailed update on improving revenue projections for the remainder of Fiscal Year 2021 through Fiscal Year 2022, and outlining the critical investments Gov. Phil Murphy has proposed to help New Jersey emerge from the pandemic stronger, fairer, and more resilient.

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Mar
19

(TRENTON) – Governor Phil Murphy, Treasurer Elizabeth Muoio, Senate Budget and Appropriations Committee Chairman Paul Sarlo, and Assembly Budget Committee Chairwoman Eliana Pintor Marin today announced that the state income tax filing and payment due date for individuals for the 2020 tax year will be automatically extended from April 15, 2021 to May 17, 2021 to mirror actions taken by the IRS. The extension was made under the authority of the Department of Treasury's Director of the Division of Taxation. Formal guidance will be provided in the coming days.

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Mar
12

(TRENTON) – The Department of the Treasury reported that February revenue collections for the major taxes totaled $2.743 billion, up $189.0 million, or 7.4 percent, over last February. Fiscal year-to-date, total revenue collections of $21.493 billion are up $982.3 million, or 4.8 percent above the same eight month period last year.

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Feb
16

(TRENTON) – The Department of the Treasury reported that January revenue collections for the major taxes totaled $4.1 billion, up $10.3 million, or 0.3 percent, above last January. Fiscal year-to-date, total collections of $18.75 billion are up $793.3 million, or 4.4 percent above the same seven months last year.

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Feb
9

(TRENTON) – In an effort to aid small businesses impacted by the COVID-19 pandemic, Governor Phil Murphy and State Treasurer Elizabeth Maher Muoio announced today that New Jersey will follow the federal government's lead in allowing Paycheck Protection Program (PPP) loans to be tax exempt at the state level and enabling recipients to deduct business expenses that were paid with the tax-exempt loan proceeds, thereby enhancing the tax benefits of the loans.

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Feb
4

(TRENTON) – Con el Día de Concientización del Crédito Tributario por Ingreso del Trabajo, el Departamento de Tesorería de NJ lanzó hoy una campaña de concientización en todo el estado que incentiva a todos los contribuyentes elegibles para que se beneficien del programa ampliado de Nueva Jersey, el cual puede proveer desde varios cientos hasta varios miles de dólares como ayuda económica para quienes puedan unirse.

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Feb
2
Announcement comes as part of National Unclaimed Property Day celebration.

(TRENTON) –– The Department of the Treasury’s Unclaimed Property Administration (UPA) announced a record $3.6 million to help provide assistance to low and moderate income New Jersey households struggling to pay their utility bills. The contribution, presented to the Affordable Housing Association on National Unclaimed Property Day, is an increase from last year’s $3.2 million contribution.

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Jan
29
Roughly 25% of Eligible Taxpayers Routinely Do Not Apply; Statewide Awareness Campaign Underway to Encourage Participation

(TRENTON) –– In tandem with national Earned Income Tax Credit Awareness Day, the NJ Department of the Treasury today launched a statewide awareness campaign to encourage every eligible taxpayer to take advantage of New Jersey’s expanded program, which can provide anywhere from several hundred to several thousand dollars in relief to those who are eligible.

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Jan
27
(TRENTON) – The New Jersey Department of the Treasury's Division of Investment (DOI) announced several new key hires and promotions at today's annual meeting of the State Investment Council (SIC), chief among them Shoaib Khan, the division's new Deputy Director.
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Jan
20
(TRENTON) – The Department of the Treasury reported that December revenue collections for the major taxes totaled $4.3 billion, up $1.331 billion, or 44.8 percent, above last December. Fiscal year-to-date, total collections of $14.67 billion are up $783.0 million, or 5.6 percent above the same six months last year.
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Jan
8
(TRENTON) – State Treasurer Elizabeth Maher Muoio has announced the hiring of New Jersey native Eddie Ramos to fill the newly created position of Diversity Portfolio Manager within Treasury’s Division of Investment (DOI), a role designed to aid the division’s ongoing efforts to identify a wider universe of diverse investment fund managers, brokers, consultants, and advisers to manage the State’s roughly $80 billion pension fund.
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Dec
30
TRENTON - State Treasurer Elizabeth Maher Muoio announced today that New Jersey property owners who are eligible for the Senior Freeze property tax reimbursement program will have an additional month to apply for the relief program, with the application deadline now being extended until February 1, 2021.
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Dec
23
TRENTON - The Department of the Treasury announced several key initiatives on Wednesday that will advance the Murphy Administration's commitment to ensuring Minority-, Women-, and Veteran-Owned Businesses (MWVOB) can more fully participate in New Jersey's multi-billion dollar supply chain.
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Dec
15
TRENTON - The Department of the Treasury reported that November revenue collections for the major taxes totaled $2.261 billion, up $124.7 million, or 5.8 percent above last November. However, fiscal year-to-date, total collections of $10.370 billion are down $548.3 million, or 5.0 percent below the same five months last year.
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Nov
25
TRENTON - The New Jersey Department of the Treasury and the New Jersey Economic Development Authority (NJEDA) today announced the installation of artwork from ten Mercer County artists into the newly constructed New Jersey Department of Health building on Willow Street in Trenton. The installation marks one of the final steps in the construction of the first new state office buildings in Trenton in more than 25 years.
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Nov
18
TRENTON - The Department of the Treasury reported that October revenue collections for the major taxes totaled $2.501 billion, down $137.4 million, or 5.2 percent below last October. Fiscal year-to-date, total collections of $8.108 billion are down $673.1 million, or 7.7 percent below the same four months last year.
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Nov
17
TRENTON - The New Jersey Department of the Treasury today priced the General Obligation bonds authorized under the COVID-19 Emergency Borrowing Act one day earlier than anticipated due to the amount of interest the State had received.
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Nov
06
TRENTON - -Governor Murphy issued a revenue certification today, as required by the New Jersey Supreme Court before any general obligation bonds can be issued under the COVID-19 Emergency Bond Act. The overall revenue outlook is now $398 million above the amount certified in the Fiscal Year 2021 (FY21) Appropriations Act at the end of September 2020.
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Oct
29
TRENTON - State Treasurer Elizabeth Maher Muoio is reminding residents that the deadline to apply for New Jersey's Senior Freeze property tax reimbursement has been extended until the end of the year and is urging all eligible residents to take advantage of the additional time to apply for the relief.
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Oct
15
TRENTON - The Department of the Treasury today reported that September revenue collections for the major taxes totaled $3.467 billion, down $161.0 million, or 4.4 percent below last September. Fiscal year-to-date, total collections of $5.607 billion are down $535.7 million, or 8.7 percent below the same three months last year.
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Sept
22
TRENTON - Pursuant to the New Jersey COVID-19 Emergency Bond Act, the Department of the Treasury announced that issuing officials met today and released a report authorizing the state to issue up to $4.5 billion in General Obligation (GO) bonds to help navigate a steep decline in state revenue brought on by the COVID-19 pandemic.
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Sept
16
TRENTON - The Department of the Treasury reported that August revenue collections for the major taxes totaled $1.958 billion, down $117.4 million, or 5.7 percent below last August. For the first two months of traditional Fiscal Year 2021 (FY 2021), total collections of $2.140 billion are down $374.7 million, or 14.9 percent below the same two months last year.
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Sept
08
TRENTON - State Treasurer Elizabeth Maher Muoio testified before the Senate Budget and Appropriations Committee at the State House today, providing a revenue update for the close out of Fiscal Year 2020, a detailed look ahead at projections for Fiscal Year 2021, and an overview of Governor Murphy’s plans to build a stronger, fairer, and more resilient post-COVID future for New Jersey.
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Aug
28
TRENTON - After a thorough review of fuel consumption statistics and consultation with the Legislative Budget and Finance Officer, the Department of the Treasury announced on Friday that lower fuel consumption trends, which have been exacerbated by the COVID-19 pandemic, will necessitate a gas tax increase of 9.3 cents per gallon in order to ensure compliance with the 2016 law that requires a steady stream of revenue to support the state’s Transportation Trust Fund (TTF) program.
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Aug
25
TRENTON - Governor Phil Murphy today released his revised budget proposal for Fiscal Year 2021 (FY 2021), including targeted cuts across State government, fair and equitable revenue raisers, an emergency borrowing proposal, and additional plans to invest federal funding received to date to help close what would have been a nearly $6 billion budget hole as a result of the COVID-19 pandemic.
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Aug
13
TRENTON - The Department of the Treasury today reported that July revenue collections for the major taxes totaled $5.136 billion, up $2.802 billion, or 120.1 percent over last July. This inflated and unprecedented growth was anticipated due to the change in state law that allowed individual and corporate taxpayers to defer certain payments from April to July due to the COVID-19 pandemic, following similar tax changes that were instituted at the federal level.
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July
17
TRENTON - The Department of the Treasury reported today that June revenue collections for the major taxes totaled $2.92 billion, down $503 million, or 14.7 percent below last June. The June decline eclipsed last month's decline of 13.5 percent over the previous May, indicating that the economic impact of the global pandemic shows little signs of abating. Fiscal year-to-date, total collections of $29.784 billion are now down $3.0 billion, or 9.2 percent below the same period last year.
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July
8
TRENTON - The Department of the Treasury is warning New Jersey residents to be careful when it comes to text messages that seem too good to be true. Scammers purporting to be from Treasury’s Unclaimed Property Administration (UPA) are sending fraudulent text messages to residents, asserting that unclaimed funds can be accessed by clicking a link.
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June
30
TRENTON - Governor Phil Murphy signed a three-month spending plan into law on Tuesday that includes a series of deep cuts and spending deferrals to help the state meet its most basic obligations through the extended fiscal year (FY 2020), which ends September 30.
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June
12
TRENTON - The Department of the Treasury reported today that May revenue collections for the major taxes totaled $2.120 billion, down $331.2 million, or 13.5 percent, below last May as the economic impact of the global pandemic continues to take its toll on the State's finances. Fiscal year-to-date, total collections of $26.864 billion are now down $2.498 billion, or 8.5 percent below the same period last year.
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May
28
TRENTON - State Treasurer Elizabeth Maher Muoio testified during a virtual hearing before the Assembly Budget Committee today, providing a detailed revenue report and fielding questions on the difficult choices the Murphy Administration has been forced to make in order to close the massive gap that looms for the remainder of the extended fiscal year due to the devastating impact COVID-19 has had on New Jersey’s finances.
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May
22
TRENTON - New Jersey recently launched the PPE Supplier Registry to connect suppliers of personal protective equipment (PPE) that can prevent the spread of COVID-19 with potential buyers. Wholesale vendors with PPE inventory such as surgical or other protective masks, hospital gowns, hand sanitizer, or COVID-19 test kits can submit details on supplies they have available and hospitals, medical organizations, and private businesses can purchase.
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May
22
TRENTON - The Department of the Treasury delivered a budget update to the Legislature today, providing a detailed revenue report that illustrates the devastating impact COVID-19 has had on New Jersey’s finances and laying out plans to close the looming gap for the remainder of the extended fiscal year through a series of deep cuts and spending deferrals.
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May
13
TRENTON - The New Jersey Department of the Treasury today issued its first projections on the potential shortfall the State of New Jersey will be facing through the end of the next fiscal year as a result of the economic impact of the COVID-19 pandemic.

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May
13
TRENTON - The Department of the Treasury reported today that April revenue collections for the major taxes totaled $2.345 billion, down an unprecedented $3.5 billion, or 59.7 percent, below last April as the economic impact of the global pandemic begins to take its toll on the State’s finances. Fiscal year-to-date total collections, which had been running ahead of last year through the end of March, are now at $24.743 billion, down $2.2 billion, or 8.1 percent below the same period last year.
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Apr
28
TRENTON - Governor Phil Murphy joined with his Treasury Department today in mourning the passing of New Jersey’s Chief Economist, Dr. Ranjana G. Madhusudhan, Ph.D., whose keen insight helped influence the national economic discourse throughout a prolific career that spanned more than four decades, most of which was spent with Treasury in various roles. .
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Apr
15
TRENTON - The Department of the Treasury today reported that March revenue collections for the major taxes totaled $1.888 billion, up $66.3 million, or 3.6 percent above last March. Fiscal year-to-date, total collections of $22.398 billion are up $1.3 billion, or 6.2 percent above the same period last year.
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Mar
23
Issues New Disclosure Statement on Potential Financial Impact
TRENTON - State Treasurer Elizabeth Maher Muoio issued a new voluntary disclosure statement to bond holders today, as required by law, providing the most detail, to date, on the potential impact COVID-19 may have on New Jersey’s finances, including revenue collections and pension fund contributions.
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Mar
18
Assistance can still be obtained online or via phone for Taxation, Pensions & Benefits, business applications and various certification services that are impacted
TRENTON - The Department of the Treasury reported that February revenue collections for the major taxes totaled $2.554 billion, up $220.0 million, or 9.4 percent above last February. Fiscal year-to-date, total collections of $20.511 billion are up $1.234 billion, or 6.4 percent above the same period last year.
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Mar
16
TRENTON - The Department of the Treasury reported that February revenue collections for the major taxes totaled $2.554 billion, up $220.0 million, or 9.4 percent above last February. Fiscal year-to-date, total collections of $20.511 billion are up $1.234 billion, or 6.4 percent above the same period last year.
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Feb
14
TRENTON - The Department of the Treasury reported today that January revenue collections for the major taxes totaled $4.069 billion, up $27.4 million, or 0.7 percent above last January. Year-to-date, total collections of $17.957 billion for Fiscal Year 2020 (FY 2020) are up $1.014 billion, or 6.0 percent above the same period last year.
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Feb
06
TRENTON - The Department of the Treasury’s Unclaimed Property Administration (UPA) presented a record $3.2 million to help provide assistance to low and moderate income New Jersey households struggling to pay their utility bills. The check, presented to the Affordable Housing Association, which administers the assistance, is nearly double last year’s $1.7 million contribution.
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Jan
19
TRENTON - The Department of the Treasury reported today that the robust revenue collections that had been realized through the first five months of Fiscal Year 2020 (FY 2020) began to moderate in December with combined collections for the major taxes totaling $2.969 billion, down $4.4 million, or 0.1 percent, below last December.
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Dec
17
TRENTON - The Department of the Treasury reported today that revenue collections held steady in November with combined collections for the major taxes totaling $2.137 billion, up $206.4 million, or 10.7 percent above last November. Year-to-date, collections for Fiscal Year 2020 (FY 2020) totaled $10.918 billion, up $990.8 million, or 10 percent, above the same five month period last year. However, there remains ongoing uncertainty surrounding the continuation of these trends for the remaining seven months of FY 2020.
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Nov
18
TRENTON - The Department of the Treasury reported today that October revenue collections were above targeted growth, with collections for the major taxes totaling $2.639 billion, up $361.9 million, or 15.9 percent above last October. Year-to-date, total collections of $8.781 billion are up $784.4 million, or 9.8 percent above the same period last year.
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Nov
07
TRENTON - – With the Veterans Income Tax Exemption doubling to $6,000 for 2019, State Treasurer Elizabeth Maher Muoio is urging New Jersey veterans to check their eligibility and pre-certify to make claiming the exemption easier during tax filing season.
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Oct
17
TRENTON - The Department of the Treasury today released $114 million of the $235 million in spending that had been placed into reserve in July to help maintain a balanced budget and a responsible surplus pursuant to Executive Order No. 73 signed by Governor Murphy.
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Oct
17
TRENTON - The Department of the Treasury reported today that overall September revenue collections exceeded projected growth at the close of the first quarter of Fiscal Year 2020 (FY 2020). Collections for the major taxes totaled $3.628 billion, up $333.3 million, or 10.1 percent, compared to last September. Year-to-date, total collections of $6.143 billion are up $422.5 million, or 7.4 percent above the same three months last year.
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Sep
18
TRENTON - State Treasurer Elizabeth Maher Muoio today announced the launch of a new web-based portal that streamlines how small, minority, women, and veteran-owned business enterprises (SMWVBEs) certify with the state, allowing them to more easily compete for state contracts with the Department of the Treasury.
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Sep
17
TRENTON – The Department of the Treasury today reported that August revenue collections are on target two months into the new fiscal year.
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Sep
5
TRENTON –State Treasurer Elizabeth Maher Muoio announced today that local government and school employers can expect to see relief in the coming year when it comes to the cost of health benefits and pension contributions – two of the largest drivers of property taxes.
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Aug
28
TRENTON - State Treasurer Elizabeth Maher Muoio announced today that New Jersey’s current tax rate on gasoline and diesel fuel will remain stable for the coming year at 41.4 cents and 48.4 cents per gallon, respectively.
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Aug
14
TRENTON - The Department of the Treasury reported that July revenue collections are on target as the new fiscal year gets underway, with collections for the major taxes totaling $2.33 billion, up $250.1 million, or 12 percent, compared to last July.
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July
25
TRENTON - Governor Phil Murphy announced today that the State of New Jersey will host NJ Connects, the first-ever state summit designed to connect minority-, women-, veteran-, and LGBTQ-owned businesses with roughly one billion dollars in public and private sector contracting opportunities.
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July
3
TRENTON - The Department of the Treasury today released the list of spending items in the newly enacted FY 2020 Appropriations Act that have been placed into reserve pursuant to Executive Order No. 73 signed by Governor Murphy on Sunday.
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July
3
TRENTON - State Treasurer Elizabeth Maher Muoio today announced the launch of a new web-based portal that will transform the way Treasury’s Division of Taxation and the NJ Economic Development Authority (EDA) issue and review economic development tax incentives that have been awarded, allowing the agencies to track the entire lifespan of a tax credit, regardless of how many times it is sold from company to company.
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June
17
TRENTON - The Department of the Treasury announced today that the proposed rules governing the expansion of the New Jersey Public Private Partnership (P3) program are now available on the New Jersey Register for public comment.
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June
14
TRENTON - The Department of the Treasury reported that May revenue collections for the major taxes totaled $2.452 billion, down $142 million, or 5.5 percent below last May, after rebounding in April. However, fiscal year-to-date revenues are on track to meet Treasury’s updated year-end projections with $29.361 billion collected in total, up $2.576 billion, or 9.6 percent, over the same period last year.  
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May
20
TRENTON - State Treasurer Elizabeth Maher Muoio released the following statement Monday on the latest Moody’s analysis that underscores New Jersey’s need to better prepare for an eventual recession:
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May
14
TRENTON - State Treasurer Elizabeth Maher Muoio announced that the Department of the Treasury has entered into an amended service agreement with Northstar New Jersey Lottery Group, which controls the New Jersey Lottery’s sales and marketing operations, a move that is projected to save the state roughly $100 million over the remaining life of the contract.
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May
14
TRENTON - State Treasurer Elizabeth Maher Muoio appeared before the Senate Budget and Appropriations Committee today to present revised revenue estimates for both FY2019 and FY2020, highlighting New Jersey’s improved revenue outlook due in part to the record-setting $3.627 billion in Gross Income Tax receipts the state collected for the all-important month of April.
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May
13
TRENTON - State Treasurer Elizabeth Maher Muoio announced that the Murphy administration is poised to make a deposit in New Jersey’s Surplus Revenue Fund (SRF) for the first time in more than a decade. The Surplus Revenue Fund, more commonly referred to as the “rainy day fund,” has sat dry since late 2008, just after the Great Recession hit.
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Apr
11
TRENTON - The Department of the Treasury reported that March revenue collections for the major taxes totaled $1.822 billion, up $262.8 million, or 16.9 percent, above last March. Fiscal year-to-date, total collections of $21.098 billion are up $947.7 million, or 4.7 percent, above the same period last year.
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Apr
08
The New Jersey Department of the Treasury and the New Jersey Economic Development Authority (NJEDA) will host a second opportunity forum next week to help small, women, minority, and veteran-owned subcontracting companies (SMWVBEs) explore opportunities to work on the new state office building development projects underway in Trenton.
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Apr
01
State Treasurer Elizabeth Maher Muoio testified before the Assembly Budget Committee at the State House today, providing a detailed update on revenue projections for both fiscal year 2019 and 2020 and detailing Gov. Murphy’s plans to restore fiscal responsibility and grow and strengthen New Jersey’s middle class.
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Mar
27
State Treasurer Elizabeth Maher Muoio announced that Acting Director Corey Amon was sworn in this morning as the permanent Director of the Department of the Treasury’s Division of Investment (DOI).
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Mar
14
The Department of the Treasury reported that February revenue collections for the major taxes totaled $2.334 billion, up $191 million, or 8.9 percent above last February. Fiscal year-to-date, total collections of $19.277 billion are up $685 million, or 3.7 percent above the same period last year.
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Mar
13
The state of New Jersey is seeking artists to design, construct, and install artwork for the new state office buildings being constructed in downtown Trenton, the NJ Department of the Treasury and the NJ Economic Development Authority (NJEDA) announced today.
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Feb
14
The Department of the Treasury reported that January revenue collections for the major taxes totaled $4.042 billion, up $225 million, or 5.9 percent above last January. Year-to-date, total collections of $16.942 billion are up $493.8 million, or 3.0 percent above the same period last year.
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Feb
02
The New Jersey Department of the Treasury’s Unclaimed Property Administration (UPA) presented the Affordable Housing Alliance with a check this week for $1.78 million to help provide assistance to low and moderate income New Jersey households struggling to pay their utility bills.
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Jan
24
With income tax filing season about to get underway, and the prolonged federal government shutdown placing a financial strain on furloughed workers, the New Jersey Department of the Treasury wants to remind all taxpayers that the Division of Taxation stands ready to assist anyone experiencing hardship who may be struggling to make payments.
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Jan
14
The Department of the Treasury reported that December revenue collections for the major taxes totaled $2.973 billion, down $335 million, or 10.1 percent below last December. However, year-to-date, total collections of $12.901 billion are up $269 million for FY 2019, 2.1 percent above the same period last year.
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Dec
27
As part of the Department of the Treasury’s ongoing efforts to reconnect state-held assets to their rightful owners, the Unclaimed Property Administration (UPA) has launched a veterans outreach campaign, which has uncovered as many as 3,000 veterans and widows in New Jersey who may have unclaimed assets, resulting in over $200,000 being returned to families thus far.
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Dec
14
The Department of the Treasury reported that revenue collections remain on target through the first five months of FY 2019. Collections for the major taxes totaled $1.93 billion, down $58.8 million, or 3.0 percent, compared to last November. However, year-to-date total collections of $9.927 billion are up $603.5 million, or 6.5 percent above the same period last year.
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Nov
16
The New Jersey Division of Taxation has announced the official launch of the 2018 Tax Amnesty program to provide individuals and businesses with the opportunity to pay back taxes or file past returns with no penalties and reduced interest.
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Nov
14
The Department of the Treasury reported that October revenue collections were on target through the first four months of FY 2019. Collections for the major taxes totaled $2.277 billion, up $73.0 million, or 3.3 percent, compared to last October. Year-to-date, total collections of $7.997 billion are up $663.3 million, or 9.0 percent above the same period last year. Adjusting for an accelerated gross income tax withholding payment, year-to-date growth in the major revenues is 7.3 percent, almost exactly matching the year-end target growth rate of 7.5 percent.
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Oct
15
The Department of the Treasury reported today that September revenue collections were above target growth at the close of the first quarter of FY 2019. Collections for the major taxes totaled $3.295 billion, up $393.7 million, or 13.6 percent, compared to last September. Year-to-date, total collections of $5.72 billion are up $591.2 million, or 11.5 percent above the same three months last year.
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Oct
2
In an effort to attract small, minority- and women-owned businesses, the Department of the Treasury and the NJ Economic Development Authority (EDA) will host a networking event next week for entrepreneurs to showcase the opportunities that lie ahead as two new state office building projects get underway.
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Sept
27
The Department of the Treasury’s Division of Investment (DOI) today announced that the final, unaudited net return for New Jersey’s Pension Fund was 9.06 percent for fiscal year 2018, exceeding both the benchmark return of 8.65 percent and the 7.5 percent statutory assumed rate of return.
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Sept
27
State Treasurer Elizabeth Maher Muoio welcomed news that Moody’s Investors Service has deemed the health benefits savings agreement the Murphy Administration announced last week a “credit positive” for the State of New Jersey.
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Sept
26
Governor Phil Murphy today signed an Executive Order establishing the New Jersey State Capital Partnership, an initiative designed to harness state support and resources to spur economic development in Trenton and help chart a new course for New Jersey’s capital city.
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Sept
25
The New Jersey Division of Taxation postponed tax filing and payment deadlines for taxpayers affected by Hurricane Florence, State Treasurer Elizabeth Maher Muoio announced today.
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Sept
17
The Department of the Treasury reported Monday that August revenue collections are on target two months into the new fiscal year.
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Sept
17
State Treasurer Elizabeth Maher Muoio extended her heartfelt condolences to the family of Cliff Goldman, who served as Treasurer from 1976 through 1982:
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Sept
17
Governor Phil Murphy today announced that the Murphy Administration has reached a health care benefits agreement with labor groups, including the New Jersey Education Association (NJEA)
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Aug
30
2016 Law Mandates Adjustments to Ensure Funding for Critical Infrastructure Projects
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Aug
17
The Department of the Treasury reported that July revenue collections are on target as the new fiscal year gets underway, with collections for the major taxes totaling $2.030 billion, up $149.0 million, or 7.9 percent, compared to last July.
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Aug
10
New Jersey returned a near-record amount of unclaimed property and assets during the fiscal year that just ended, according to State Treasurer Elizabeth Maher Muoio, with a total of $142.6 million returned to 50,837 rightful owners and heirs in FY 2018.
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July
20
State Treasurer Elizabeth Maher Muoio today announced that James Carey, a veteran of the Attorney General’s Office, has been appointed the new Executive Director of the New Jersey Lottery. Carey will officially take over the helm on July 23 as Acting Executive Director while his nomination awaits advice and consent from the State Senate.
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July
12
State Treasurer Elizabeth Maher Muoio today laid out a framework for several initial state health benefit cost-saving measures underway by the Murphy Administration that are projected to yield significant annual savings for taxpayers, while upholding the state’s commitment to public employees.
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Jun
14
The Department of the Treasury today announced that dedicated revenues remain stable while General Fund revenues remain weak for FY 2018 with the Corporation Business Tax (CBT) seeing a substantial decline for the month of May.
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Jun
1
State Treasurer Elizabeth Maher Muoio on Friday directed all state cabinet and agency heads to immediately freeze all hiring, promotions and discretionary spending until further notice in order to ensure General Fund resources are adequate to support essential state operations.
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May
21
State Treasurer Elizabeth Maher Muoio appeared before the Assembly Budget Committee on Monday to present revised revenue estimates for both FY18 and FY19 and relayed a sobering message on New Jersey’s accelerating structural budget imbalance, precipitated in large part by a number of tax changes made under the previous administration.
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May
15
The Department of the Treasury on Monday reported that April revenue collections for the major taxes were essentially flat compared to last April, up by only 0.3 percent. Total revenues are tracking close to the FY 2018 aggregate target, increasing $1.338 billion, or 5.9 percent, year-to-date.
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Apr
18
Following the Internal Revenue Service’s lead, the New Jersey Department of the Treasury’s Division of Taxation announced Wednesday that it is providing taxpayers with an additional day to file and pay their taxes.
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Apr
12
Governor Murphy’s nomination for State Treasurer – Elizabeth Maher Muoio – became just the second woman in New Jersey history to be confirmed to the cabinet post after receiving official confirmation from the State Senate on Thursday.
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Apr
10
Acting Treasurer Muoio Testifies Before Senate Budget Committee
Acting State Treasurer Elizabeth Maher Muoio testified before the Senate Budget and Appropriations Committee at the State House today, providing a detailed update on revenue projections for both fiscal year 2018 and 2019 and detailing Gov. Murphy’s plans to get the state’s fiscal house in order by charting a new trajectory for New Jersey
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Mar
29
NJ State Investment Council Announces Sale of Holdings in Manufacturers of Automatic & Semi-Automatic Arms for Civilian Use
Division of Investment Exercises its Fiduciary Responsibilities to Act in the Best Interest of Plan Participants, Based on the Merits of the Investment
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Mar
29
Governor Phil Murphy's Detailed Budget Book For FY 2019 Now Available Online Read More
Feb
22
Following Governor’s Lead, Acting Treasurer Muoio Assembles Diverse, Women-led Treasurer’s Office Read More
Mar
1
Acting Treasurer Muoio Authorizes Changes to Assumed Rate of Return for NJ’s Retirement Systems, Laying out Responsible Pathway to Actuarial Assumptions Read More
Feb
20
NJ Treasury Assures Filers of Online Taxation Data Security Measures Read More
Feb
14
January Revenue Performance Mixed Read More
Feb
9
State Treasurer Urges NJ Veterans to Apply For New $3,000 Income Tax ExemptionRead More
Jan
12
Revenues for Fiscal Year 2018 Exceeding ProjectionRead More
Jan
11
Division of Taxation Launches New Website and Self-Help VideosRead More
Jan
8
Lottery Enterprise Contribution Act Lowering State’s Borrowing CostsRead More

Last Updated: Monday, 09/27/21