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New Jersey Transportation Trust Fund Authority  

About TTFA

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Financing Process
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Future Financing
Next Bond Sale
Annual Financial Plan
Long-Term Financing Capacity


Capital Program

The Transportation Trust Fund provides funding for New Jersey's transportation system


The New Jersey Transportation Trust Fund Authority (TTFA) is an independent agency of New Jersey state government whose stated mission is to finance the cost of “planning, acquisition, engineering, construction, reconstruction, repair, resurfacing, and rehabilitation of the state’s transportation system.”

The Authority consists of seven members, two ex-officio and five public members appointed by the Governor. Board meetings are scheduled on an as needed basis and notices of the meetings are published in the newspapers and on this Web site. The meetings are conducted at New Jersey Department of Transportation (NJDOT) Headquarters in Ewing, NJ and are open to the public.

Quick Facts (Updated 6-30-15) *
Current State Contract Outstanding Bonds (a)

$16.4 billion

Current State Contract Debt Service Outstanding $30.0 billion
Max. Bond Maturity 31 years
Appropriated Revenue ** $1,176.4 million
Current State Contract Debt Service *** $1,100.5 million

Current NJ Transit EDA Debt Service

$75.9 million
  Total TTFA/NJT Debt service (net) $1,176.4 million
Current Statutory Bond Cap Available $0.0 million
Current Credit Ratings S&P A-
Moody's A3
Fitch A-
State Gasoline Tax 10.5 cents
State Diesel Tax 13.5 cents
Motor Fuel Tax Dedicated for Transportation 10.5 cents=$535M
Motor Fuel Tax Appropriated to TTFA $516.0 Million

(a) Reflects accreted amounts on Capital Appreciation Bonds

* Quick Facts financial data reflects most recent audited financial information.

** FY 15 Appropriation Act appropriated $1,260.1 million. The lower amount shown on the chart reflects $83.7 million in resources held in the General Fund for FY 16 debt service obligations.

*** reflects Build America Bond credit offset of $35.9 million and $47.8 of debt service savings from re-marketing of variable rate bonds

The Authority’s financing process is directed at issuing sufficient bonds to reimburse NJDOT/NJ TRANSIT Capital Program expenditures previously requested and authorized by the Legislature.

The level of bonding needed is based on the Authority's appropriation revenues and current debt schedule. Audited financial statements are prepared each year summarizing the Authority’s financing activity and current financial position.

The Authority was created in 1984 by legislation that has been amended several times. The current Transportation Trust Fund Statute (NJSA 27:1B-21.2) and dedication of revenues found in the State Constitution serve as the blueprint for all Authority actions.

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