TRENTON — Gov. Chris Christie's administration publicly unveiled details of his budget proposal today. Here's a breakdown of how they want to spend $29.3 billion in taxpayer money, described by Chief of Staff Richard Bagger and Treasurer Andrew Sidamon-Eristoff. STATE AID TO SCHOOLS This is the single largest chunk of the state’s budget. Christie wants to cut almost $820 million from this area. No school district would lose more than 5 percent of its budget under Christie’s plan. Districts that receive less than 5 percent of its annual budget from state aid could be cut out entirely..."

'Breakdown of Gov. Chris Christie's New Jersey budget plan' By Statehouse Bureau Staff March 16, 2010, 5:00PM Amanda Brown/The Star-Ledger New Jersey Gov. Chris Christie (center) makes his first budget address to a joint session of the New Jersey Legislature. TRENTON — Gov. Chris Christie's administration publicly unveiled details of his budget proposal today. Here's a breakdown of how they want to spend $29.3 billion in taxpayer money, described by Chief of Staff Richard Bagger and Treasurer Andrew Sidamon-Eristoff. STATE AID TO SCHOOLS This is the single largest chunk of the state’s budget. Christie wants to cut almost $820 million from this area. No school district would lose more than 5 percent of its budget under Christie’s plan. Districts that receive less than 5 percent of its annual budget from state aid could be cut out entirely. A district-by-district breakdown is scheduled to be released later this week. PROPERTY TAX REBATES Christie wants to eliminate rebates, transforming them into direct credits on homeowners' tax bills by May 2011. That means no rebate checks this September, an annual tradition for three decades. Residents who received a rebate last year -- meaning seniors, the disabled and people earning less than $75,000 annually -- would receive one-fourth of that amount in a credit. PROPERTY TAX CAP The Christie administration is pushing to cap annual property tax increases at 2.5 percent through a constitutional amendment. If a local government taxes are less than the cap, they can "bank" it and increase taxes more in subsequent years. The state's current property tax cap is 4 percent, although municipalities and school districts can exceed the limit by applying for waivers from the Department of Community Affairs. Under Christie's proposal, only local referendums would permit tax increases above 2.5 percent. Because instituting a constitutional amendment is a lengthy process — requiring legislative approval and a statewide voter referendum — Christie proposed legislation to tighten the restrictions already in place. TOOLS FOR TOWNS AND SCHOOL DISTRICTS Christie said benefits for public employees have driven up state spending, and he wants new laws to help municipalities and school districts pare down those costs. Under his plan, the cost of union contracts would not be allowed to increase faster than caps on property tax hikes. School districts would also be able to impose a "last best offer" when negotiations break down. In addition, the state executive branch would select arbitrators for union negotiations. Labor contracts with school districts would require approval from executive county superintendents, and no contracts would be allowed to increase salaries and benefits more than the property tax cap or fail to mandate at least five hours of contact with students per day for teaching staff. Municipalities and counties would also be able to furlough workers and opt out of civil service guidelines. ETHICS The Inspector General and State Commission of Investigation would be folded into the Comptroller's Office. The Public Advocate gets no funding. STATE AID TO MUNICIPALITIES The Christie administration wants to decrease state aid to municipalities by $445 million, dropping it to $1.46 billion. That includes a $271 million decrease in standard aid provided through the Consolidated Municipal Property Tax Relief Act. However, standard aid reductions would be limited to $250 per residential taxpayer in each municipality. The plan also eliminates special municipal aid and sales tax deductions intended to spur economic growth in urban areas. STATE EMPLOYEES Christie wants to save $8.8 million by cutting 1,300 state workers — including union and non-union employees — in the coming fiscal year. His administration said another $50 million can be saved through privatizing some state government operations. IMPACT ON THE POOR AND ELDERLY Christie wants to reduce the earned income tax credit from 25 percent of the federal income tax credit to 20 percent, saving $45 million. He would also add deductibles and change co-pays for Pharmaceutical Assistance to the Aged & Disabled in order to cut another $93 million from the budget. The proposal would add a $310 deductible, reduce co-pays for generic drugs from $6 to $5 and raise co-pays on name brand drugs from $7 to $15. Under Christie's proposal, child care subsidies would be cut $19.8 million and dropping childless adults from welfare would save another $24.4 million. The Hagedorn Psychiatric Hospital in Hunterdon County would also close, saving $9 million. More Coverage: • Live blog: Gov. Chris Christie delivers budget speech to N.J. Legislature • Gov. Chris Christie's Budget-in-brief • Full text of Gov. Chris Christie's speech • Video coverage of Gov. Chris Christie's speech • Gov. Chris Christie plans to cut N.J. school aid by $800M • Complete coverage of The New Jersey State Budget Christie on state program spending, pension reform and tax rebates Christie on state spending