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New Jersey Transportation Trust Fund Authority  

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


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

New Jersey Transportation Trust Fund Authority Disclaimer & Conditions of Use:

The website reflects the provisions of the Fiscal Year (FY) 2023 Appropriations Act (approved June 30, 2022) and the Fiscal Year 2022 Appropriation Act, as well as program changes implemented through the October 2016 legislative reauthorization.

This site provides general information about the New Jersey Transportation Trust Fund Authority, its finances, revenues, outstanding bonds, debt service and other information. This site does not purport to comprehensively describe the TTFA or its finances.  The TTFA has not prepared the statements contained on this site with a view to any investment decision in TTFA bonds, and investors in the TTFA’s bonds are encouraged to review all of the information that has been posted on the Electronic Municipal Market Access site of the Municipal Securities Rulemaking Board with respect to the TTFA’s bonds before making any investment decision to purchase or sell TTFA bonds.  See http://emma.msrb.org

The information contained on this site speaks only as of the date it was posted or, if such information is dated, as of its dated date. The TTFA does not undertake to update materials posted on this site. Material developments may occur after the dated date or posted date of such information that could render it materially inaccurate or unreliable. Any of the information on this site may be removed at any time.  The TTFA does not undertake to maintain any information contained on this site.

Some of the information on this site has come from sources other than the TTFA, and the TTFA presents that information for convenience only. The TTFA makes no representation that such information is accurate or complete, undertakes no responsibility to verify any of that information, and makes no representation that the information is suitable for any investment decision in TTFA bonds.

By choosing to proceed and view the information on this site, you are acknowledging that you have read and understood, and agree with, this Notice and Disclaimer.

THIS IS NOT AN OFFER TO SELL BONDS. Information on this site is not an offer to sell securities or the solicitation of an offer to buy securities.  

Quick Facts
Outstanding Bonds * $20.0 billion
Debt Service Outstanding * $32.1 billion
Max. Bond Maturity * 31 years
Current State Contract Debt Service (A) $1,421.1 million
Current NJ Transit EDA Debt Service (A) $146.4 million
  Total TTFA/NJT Debt service (net) (A) $1,567.5 million

Revenue Appropriated to TTFA:

Motor Fuel Tax (A) $462.4 million
Petroleum Products Gross Receipts Tax (A) $893.1 million
State Sales & Use Tax (A) $200.0 million
Toll Road Authority (A) $12.0 million
Total Appropriated Revenue $1,567.5 million
Current Credit Rating S&P A-
Moody's A2



A              A

* The financial information is as of June 30, 2022 and reflects the most recent audited financial information. Amount reflected include the 2016 Series A and 2016 Series B Indirect Garvee notes, as well as the 2018 Series A Refunding of a portion of the Indirect Garvee notes, and is net of non-amortized accretion balances on Capital Appreciation Bonds.

(A) Amounts for appropriation contained herein are representative of the Fiscal Year 2024 Appropriation Act, covering the period beginning July 1, 2023 and ending June 30, 2024. 


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 Website. The meetings are conducted at New Jersey Department of Transportation (NJDOT) Headquarters in Ewing, NJ and are open to the public.

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

The level of bonding needed is based on the Authority's capital needs. 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 (N.J.S.A. 27:1B-1, et seq.) and dedication of revenues found in the State Constitution serve as the blueprint for all Authority actions.

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