NJ will pay the US Treasury $150M. Here’s why

njspotlightnews.org

Listed in state budget documents alongside some of the biggest year-over-year cost drivers is a $150 million expense for an “arbitrage rebate.”

Although it’s hard to tell from the budget documents, the $150 million is intended to be paid to the U.S. Treasury during the new fiscal year that begins this July, according to officials from the state Department of the Treasury.