NJ Turnpike could send $2B to NJ Transit if this agreement passes
Updated 2:43 PM;
As NJ Transit officials are hoping for more people to return to the workplace to boost revenues, the agency could get a cash infusion totaling $2 billion from the NJ Turnpike Authority, under a funding agreement commissioners are scheduled to vote on next Tuesday.
The authority’s board is scheduled to vote April 27 on a new agreement with the state treasury department to allow the authority to provide a subsidy totaling about $1.22 billion over three years.
Annual funding toward NJ Transit was included as part of the Turnpike and Parkway toll increases approved last year that took effect last Sept. 13. The turnpike currently provides $129 million annually to NJ Transit under prior agreements, which are expiring.
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