A New Jersey Assembly committee yesterday approved Gov. Jim Florio's plan to sell a stretch of highway to the Turnpike Authority for $400 million -- a move that could prompt the authority to refund up to $2.5 billion of outstanding bonds.
The vote by the Assembly Transportation Authorities Committee released the measure to the full Assembly, where a final vote is expected sometime this week. Last Thursday, the state Senate approved the plan, which Gov. Florio proposed as a one-shot method of helping to balance the proposed fiscal 1992 budget.