Proposes constitutional amendment requiring voter approval of State bond refundings that increase principal amount of total State bonded indebtedness.

ACR 73 proposes a constitutional amendment requiring voter approval for New Jersey state bond refundings that increase the total debt beyond the original principal amount plus refinancing costs. Currently, bond refundings that provide "debt service savings" (lower interest payments) can proceed without voter approval under existing rules. This bill would mandate voter approval via general election for any refunding that increases the principal debt amount beyond the original bonds being refinanced plus necessary costs. It directly affects state budget decisions by requiring public consent for certain debt refinancing actions that would otherwise be approved by the legislature and budget oversight committees.