b'CODING Update ComplianceLEGAL NUTRITIONUpdateANJC NewsANJC Leadership ANJC News! NUTRITION LEGAL EASEANJC Scholarships REHAB Update CHIRO AssistExecutive Directors Update LEGAL Q&A2020 ANJC AWARDSINSURANCE Update INSURANCE Update Legislative Update New Jersey Fiscal By Jon BombardieriYear 2022 BudgetANJC Government Affairs Counsel TECHNIQUE UpdateState funding for a Main Street business-relief program would also be renewed, pushing total two-year spending to $100 million.Thats still less than whats being proposed in a MedicareQ&AMedicare Update bipartisan bill that has been introduced in the Senate, which OUR HEALTHprovides for $300 million in immediate funding to support small businesses and nonprofit organizations that have been impacted during the states health emergency.Governors Murphys budget initiative, Cover All Kids, aims to enroll every uninsured child in the state into NJ FamilyCare, the states Medicaid program. The $20 million appropriation will cover the estimated 88,000 children that do not have health insurance coverage in the state.The treasurer has upgraded revenue forecasts for the current fiscal year and is projecting that tax collections will grow by 4% during the 2022 fiscal year.The state is also hoping to receive an increased amount of coronavirus aid from the federal government.Under Governor Murphys proposed budget of $44.8 billion,New Jersey has more than $6 billion in budget reserves, but New Jersey will be setting a record for its highest stateGovernor Murphy is planning to spend a good portion of budget.The governors proposed budget proposal callsthose reserves rather than bank those funds.The administra-for yet another big boost in overall spending, but this timetion defended the spending as necessary, given the need to without new tax hikes, thanks in part to whats expected to beboost the state economy, which continues to be impacted by New Jerseys strong economic recovery from the coronavirushigh unemployment due to the pandemicpandemic.This is an increase of more than 10%, with aLawmakers now must either move forward with Murphys large part of the appropriation for K-12 education, higherbudget plan and enact it, or send their own budget to the education, support for small businesses, and public-workergovernor for his consideration before the June 30 deadline.pension funding. This year, in addition to Governor Murphy, all 120 legislative The spending proposal would also take a major stepseats are also on the November ballot, so it will be difficult forward when it comes to funding the states long-troubledto see anything too controversial coming out of this budget public-worker pension system. It proposes what would beseason.considered by actuaries to be the states first full pension contribution in more than two decades. The state has long ignored its responsibility to make a full pension contribution,Jon Bombardieri and his firm, CLB Partners, serves as theleaving New Jerseys pension system as one of the nationsGovernment Affairs Counsel to the ANJC.worst-funded state retirement plans.The payment that is proposed would be $6.4 billion, New Jersey taxpayers will have the responsibility to pay down the interest of nearly $4 billion in noncallable (meaning theFollow ANJC On:bonds cannot be prepaid or paid off early) long-term debt.The long-term was approved last year, despite objections from Republicans, when Murphy and fellow Democrats, who control both houses of the Legislature, decided to sell bonds without voter approval to help offset projected revenue losses that havent materialized in full.Also in line for a big funding increase of $578 million increase@AssocNJChiro Associationassocnjchiroto direct aid for K-12 schools.Funding for preschool educa- of New Jerseytion would also increase under Murphys proposed spendingChiropractorsANJCplan.8 I Spring 2021 www.anjc.info'