S 4875 New Jersey Senate · 2024-2025 Regular Session

"Citizen's Fund Act"; establishes trust fund for conveyance of certain public entity assets, as permitted, for interest of public benefit plans.*

This bill establishes the "Citizen's Fund," a trust fund that allows public entities like municipalities, counties, and school districts to transfer revenue-producing assets (such as infrastructure) to the fund. The fund would manage these assets separately from other state funds to maximize their long-term value, with the goal of increasing the funded ratio of public pension systems. Assets conveyed to the fund would be represented through "certificates of trust," and the fund would be managed by a board appointed by the governor, including representatives from the New Jersey Infrastructure Bank and the Division of Investment. The fund must operate to meet safety and environmental standards while maximizing asset value for public pension beneficiaries.

Sub-Topics: Pensions

Bill status in committee 1 of 4 stages cleared

Introduction

Nov 2025

Committee Review

Floor Vote

Governor

Introduced Nov 13, 2025 Last action Jan 8, 2026

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What changed between versions

Introduced Version → Reprint SBA 1/8/26 1R · 4 edits

MODERATE

The Senate Budget and Appropriations Committee made two substantive changes to the Citizens Fund Act: it narrowed the fund's asset scope by removing language that would have allowed the fund to hold 'other assets' beyond utility assets in a TRU area, and it broadened the geographic definition of a TRU area by adding the word 'entire.' The committee also removed the legislative statement, which is standard when a bill is reported out of committee.

Scope change

The fund's asset scope was narrowed to only utility assets in a TRU area (removing the broader 'other assets' language), while the geographic definition of a TRU area was broadened to explicitly cover the entire county rather than just an area within it.

SCOPE

The definition of 'Fund' or 'trust fund' was narrowed. The original allowed the fund to hold utility assets in a TRU area plus 'other assets pursuant to or not prohibited under section 3.' The amended version limits the fund to holding only 'the utility assets in a TRU area,' removing the broader catch-all language that could have permitted other types of assets.

The definition of 'TRU area' was broadened from 'the area within a county that has an aviation district and a Capital City District' to 'the entire area of a county that has an aviation district and a Capital City District.' Adding 'entire' clarifies that the whole county qualifies, not just a subset.

TECHNICAL

The legislative statement (a non-binding summary of the bill's purpose) was removed in its entirety, which is standard practice when a bill is reported out of committee with amendments.

A cross-reference in Section 4a(4) was updated from 'subsection f.' to 'subsection g.' to reflect renumbering of the fund advisory board provision.

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Full legislative history

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Committee

Jan 8, 2026

Senate · Reported by committee

Reported out of Senate Committee with Amendments, 2nd Reading

Nov 13, 2025

Senate · Introduced

Introduced in the Senate, Referred to Senate Budget and Appropriations Committee

1 primary · 0 co-sponsors