New Jersey Open Space, Farmland and Historic Preservation Funds, Question 1 (1998)
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The question on the ballot was, "Shall the amendment to Article VIII, Section II, of the Constitution of the State of New Jersey, agreed to by the Legislature, to (1) dedicate $98,000,000 in each fiscal year, for the next 10 years, of State revenue from the State tax imposed under the "Sales and Use Tax Act" for the acquisition and development of lands for recreation and conservation purposes, for the preservation of farmland for agricultural or horticultural use and production, and for historic preservation, and to satisfy any payments relating to bonds, notes, or other obligations issued for those purposes, and (2) dedicate up to $98,000,000 in each fiscal year, for up to 20 years thereafter, of State revenue from the State tax imposed under the "Sales and Use Tax Act" to satisfy any payments relating to bonds, notes, or other obligations issued for those same purposes, be approved?"
The interpretive statement in the official Voter's Guide was, "Approval of this constitutional amendment would dedicate $98 million annually in state sales and use tax revenue for the years 1999 to 2009 to finance open space, farmland, and historic preservation. From 2009 to 2029, this measure would provide for the payment of debt on any bonds issued by an authority to finance these same purposes by dedicating an amount sufficient to pay the debt, up to $98 million annually. This measure also would provide that any bonds issued by an authority relying on the state sales and use tax revenue provided in this dedication must be issued by 2009. This constitutional amendment does not raise any existing tax or authorize a new tax but would dedicate annually a portion of future revenues from an existing tax."
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