N-Q 1 d20860dnq.htm BLACKROCK NEW JERSEY MUNICIPAL INCOME TRUST BLACKROCK NEW JERSEY MUNICIPAL INCOME TRUST

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM N-Q

QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED

MANAGEMENT INVESTMENT COMPANY

Investment Company Act file number 811-10335

Name of Fund:  BlackRock New Jersey Municipal Income Trust (BNJ)

Fund Address:   100 Bellevue Parkway, Wilmington, DE 19809

Name and address of agent for service:  John M. Perlowski, Chief Executive Officer, BlackRock New Jersey

             Municipal Income Trust, 55 East 52nd Street, New York, NY 10055

Registrant’s telephone number, including area code:  (800) 882-0052, Option 4

Date of fiscal year end: 07/31/2016

Date of reporting period: 10/31/2015

Item 1 – Schedule of Investments

Schedule of Investments October 31, 2015 (Unaudited)

   

BlackRock New Jersey Municipal Income Trust (BNJ)

(Percentages shown are based on Net Assets)

 

Municipal Bonds    Par  
(000)		     Value  

New Jersey — 136.6%

                 

Corporate — 9.8%

  

County of Middlesex New Jersey Improvement Authority, RB, Heldrich Center Hotel, Sub-Series B,
6.25%, 1/01/37 (a)(b)

    $ 1,790      $ 86,565   

County of Salem New Jersey Pollution Control Financing Authority, Refunding RB, Atlantic City Electric, Series A, 4.88%, 6/01/29

      2,400        2,649,408   

New Jersey EDA, RB, AMT Continental Airlines, Inc. Project, Series B, 5.63%, 11/15/30

      5,160        5,728,632   

New Jersey EDA, Refunding RB, New Jersey American Water Co., Inc. Project, AMT:

     

Series A, 5.70%, 10/01/39

      1,500        1,700,490   

Series B, 5.60%, 11/01/34

      1,275        1,434,056   
    

 

 

  
               11,599,151   

County/City/Special District/School District — 29.0%

  

Casino Reinvestment Development Authority, Refunding RB, 5.25%, 11/01/44

      5,630        5,650,043   

City of Margate New Jersey, GO, Refunding, Improvement, 5.00%, 1/15/28

      1,085        1,198,675   

County of Essex New Jersey Improvement Authority, RB, AMT, 5.25%, 7/01/45 (c)

      1,990        2,029,760   

County of Essex New Jersey Improvement Authority, Refunding RB, Project Consolidation (NPFGC):

     

5.50%, 10/01/28

      1,440        1,854,490   

5.50%, 10/01/29

      2,630        3,397,986   

County of Hudson New Jersey Improvement Authority, RB, Harrison Parking Facility Project,
Series C (AGC):

     

5.25%, 1/01/39

      2,000        2,208,340   

5.38%, 1/01/44

      2,400        2,641,272   

County of Mercer Improvement Authority, RB, Courthouse Annex Project, 5.00%, 9/01/40

      775        878,594   

County of Middlesex New Jersey, Refunding, COPS, Civic Square IV Redevelopment,
5.00%, 10/15/31

      1,000        1,206,890   
Municipal Bonds    Par  
(000)		     Value  

New Jersey (continued)

                 

County/City/Special District/School District (continued)

  

County of Union New Jersey Improvement Authority, LRB, Guaranteed Lease, Family Court Building Project, 5.00%, 5/01/42

    $ 890      $ 985,577   

County of Union New Jersey Utilities Authority, Refunding RB, Solid Waste System, County Deficiency Agreement,
Series A, 5.00%, 6/15/41

      2,185        2,415,518   

Monroe Township Board of Education Middlesex County, GO, Refunding,
5.00%, 3/01/38

      860        973,658   

New Jersey EDA, RB, Kapkowski Road Landfill Project, Series B, AMT, 6.50%, 4/01/31

      5,000        5,985,250   

New Jersey EDA, Refunding RB, Special Assessment, Kapkowski Road Landfill Project,
6.50%, 4/01/28

      2,500        3,038,900   
    

 

 

  
               34,464,953   

Education — 26.3%

  

New Jersey EDA, RB:

  

Leap Academy Charter School,
Series A, 6.00%, 10/01/34

      185        187,153   

Leap Academy Charter School,
Series A, 6.20%, 10/01/44

      140        141,422   

MSU Student Housing Project Provide,
5.88%, 6/01/42

      1,500        1,659,390   

The Team Academy Charter School Project,
6.00%, 10/01/33

      1,490        1,681,882   

New Jersey EDA, Refunding RB, Greater Brunswick Charter School, Inc. Project, Series A (c):

     

5.63%, 8/01/34

      415        424,603   

5.88%, 8/01/44

      290        297,346   

New Jersey Educational Facilities Authority, RB:

     

Higher Educational Capital Improvement Fund,
Series A, 5.00%, 9/01/32

      2,070        2,133,984   

Montclair State University, Series J, 5.25%, 7/01/38

      580        632,310   

New Jersey Educational Facilities Authority, Refunding RB:

     

College of New Jersey, Series D,
5.00%, 7/01/18 (d)

      785        870,793   

College of New Jersey, Series D,
5.00%, 7/01/35

      2,445        2,657,666   

Georgian Court University, Series D,
5.00%, 7/01/33

      250        262,250   
 

 

                
   BLACKROCK NEW JERSEY MUNICIPAL INCOME TRUST    OCTOBER 31, 2015    1

Schedule of Investments (continued)

   

BlackRock New Jersey Municipal Income Trust (BNJ)

 

Municipal Bonds    Par  
(000)		     Value  

New Jersey (continued)

                 

Education (continued)

  

New Jersey Educational Facilities Authority, Refunding RB (continued):

     

Kean University, Series A, 5.50%, 9/01/36

    $ 2,060      $ 2,321,641   

Montclaire State University,
Series A, 5.00%, 7/01/44

      4,570        5,028,325   

New Jersey Institute of Technology,
Series H, 5.00%, 7/01/31

      660        739,233   

Ramapo College, Series B, 5.00%, 7/01/42

      265        286,730   

University of Medicine & Dentistry,
Series B, 7.50%, 6/01/19 (d)

      1,450        1,771,871   

New Jersey Higher Education Student Assistance Authority, Refunding RB:

     

Series 1, AMT, 5.75%, 12/01/29

      2,055        2,264,980   

Series 1A, 5.00%, 12/01/25

      390        411,485   

Series 1A, 5.00%, 12/01/26

      255        268,484   

Series 1A, 5.25%, 12/01/32

      500        537,365   

New Jersey Institute of Technology, RB, Series A:

     

5.00%, 7/01/40

      1,000        1,109,110   

5.00%, 7/01/42

      500        547,980   

5.00%, 7/01/45

      1,345        1,471,094   

Rutgers-The State University of New Jersey, Refunding RB, Series L, 5.00%, 5/01/43

      3,145        3,502,178   
    

 

 

  
               31,209,275   

Health — 10.0%

  

New Jersey EDA, Refunding RB:

     

Lions Gate Project, 5.25%, 1/01/44

      430        438,987   

Seabrook Village, Inc. Facility,
5.25%, 11/15/16 (d)

      1,790        1,877,943   

New Jersey Health Care Facilities Financing Authority, RB:

     

Meridian Health System Obligated Group,
Series I (AGC), 5.00%, 7/01/38

      710        750,442   

Robert Wood Johnson University Hospital,
Series A, 5.50%, 7/01/43

      750        860,415   

Virtua Health, Series A (AGC),
5.50%, 7/01/38

      1,250        1,377,425   
Municipal Bonds    Par
(000)		     Value  

New Jersey (continued)

                 

Health (continued)

  

New Jersey Health Care Facilities Financing Authority, Refunding RB:

     

AHS Hospital Corp., 6.00%, 7/01/37

    $ 900      $ 1,068,651   

AHS Hospital Corp., 6.00%, 7/01/41

      1,045        1,234,145   

St. Barnabas Health Care System,
Series A, 5.00%, 7/01/29

      1,740        1,788,441   

St. Barnabas Health Care System, Series A,
5.63%, 7/01/32

      580        669,593   

St. Barnabas Health Care System, Series A,
5.63%, 7/01/37

      1,605        1,832,958   
    

 

 

  
        11,899,000   

Housing — 5.4%

  

County of Middlesex New Jersey Improvement Authority, RB, Administration Building Residential Project, AMT (Fannie Mae), 5.35%, 7/01/34

      1,400        1,420,076   

New Jersey Housing & Mortgage Finance Agency, RB:

     

M/F Housing, Series A,
4.75%, 11/01/29

      1,185        1,246,667   

S/F Housing, Series AA,
6.38%, 10/01/28

      345        358,145   

S/F Housing, Series AA,
6.50%, 10/01/38

      245        254,045   

S/F Housing, Series CC,
5.00%, 10/01/34

      870        905,705   

Newark Housing Authority, RB, M/F Housing, Series A,
5.00%, 12/01/30

      2,000        2,226,020   
    

 

 

  
        6,410,658   

State — 15.3%

  

Garden State Preservation Trust, RB, CAB, Series B (AGM),
0.00%, 11/01/26 (e)

      6,000        4,409,760   

New Jersey EDA, RB:

     

Motor Vehicle Surcharge, Series A (NPFGC),
5.25%, 7/01/25

      1,365        1,581,953   
 

 

                
2    BLACKROCK NEW JERSEY MUNICIPAL INCOME TRUST    OCTOBER 31, 2015   

Schedule of Investments (continued)

   

BlackRock New Jersey Municipal Income Trust (BNJ)

 

Municipal Bonds   

Par  

(000)

     Value  

New Jersey (continued)

  

State (continued)

  

New Jersey EDA, RB (continued):

     

School Facilities Construction (AGC),
5.50%, 12/15/18 (d)

    $ 1,935      $ 2,205,184   

School Facilities Construction (AGC),
5.50%, 12/15/34

      1,065        1,172,096   

New Jersey EDA, Refunding RB, Cigarette Tax:

     

5.00%, 6/15/26

      810        862,699   

(AGM), 5.00%, 6/15/22

      2,940        3,359,479   

New Jersey Health Care Facilities Financing Authority, RB, Hospital Asset Transformation Program,
Series A, 5.25%, 10/01/38

      2,350        2,449,851   

State of New Jersey, COP, Equipment Lease Purchase, Series A, 5.25%, 6/15/28

      600        628,764   

State of New Jersey, GO, Various Purposes,
5.00%, 6/01/28

      1,280        1,455,194   
    

 

 

  
               18,124,980   

Transportation — 39.9%

  

City of Perth Amboy New Jersey, GO, CAB, Refunding (AGM), 5.00%, 7/01/35

      85        87,689   

Delaware River Port Authority of Pennsylvania & New Jersey, RB:

     

5.00%, 1/01/40

      1,380        1,539,404   

Series D, 5.00%, 1/01/40

      800        889,760   

New Jersey EDA, RB, The Goethals Bridge Replacement Project, AMT, 5.38%, 1/01/43

      5,000        5,331,200   

New Jersey State Turnpike Authority, RB:

     

Series A, 5.00%, 1/01/38

      4,075        4,501,897   

Series A, 5.00%, 1/01/43

      500        550,805   

Series E, 5.25%, 1/01/40

      1,970        2,164,340   

New Jersey Transportation Trust Fund Authority, RB:

     

CAB, Transportation System, Series C (AGM),
0.00%, 12/15/32 (e)

      4,000        1,734,960   

Transportation Program, Series AA,
5.00%, 6/15/38

      3,100        3,156,358   

Transportation System, 6.00%, 12/15/38

      945        1,035,144   

Transportation System, Series A, 6.00%, 6/15/35

      4,135        4,565,205   

Transportation System, Series A,
5.88%, 12/15/38

      1,770        1,910,219   

Transportation System, Series A, 5.50%, 6/15/41

      2,000        2,121,760   
Municipal Bonds    Par  
(000)		     Value  

New Jersey (continued)

                 

Transportation (continued)

  

New Jersey Transportation Trust Fund Authority, RB (continued):

     

Transportation System, Series A (AGC),
5.50%, 12/15/38

    $ 1,000      $ 1,092,310   

Transportation System, Series AA,
5.50%, 6/15/39

      2,260        2,405,883   

Port Authority of New York & New Jersey, RB, JFK International Air Terminal, Special Project:

     

Series 6, AMT (NPFGC), 5.75%, 12/01/22

      6,000        6,029,280   

Series 8, 6.00%, 12/01/42

      1,430        1,657,613   

Port Authority of New York & New Jersey, Refunding ARB, Consolidated:

     

152nd Series, AMT, 5.75%, 11/01/30

      1,750        1,935,080   

166th Series, 5.25%, 7/15/36

      4,000        4,564,880   
    

 

 

  
               47,273,787   

Utilities — 0.9%

  

Rahway Valley Sewerage Authority, RB, CAB, Series A (NPFGC), 0.00%, 9/01/33 (e)

      2,000        1,032,760   
Total Municipal Bonds – 136.6%        162,014,564   
    
                  

Municipal Bonds Transferred to

Tender Option Bond Trusts (f)

             

New Jersey — 25.4%

                 

County/City/Special District/School District — 5.3%

  

County of Union New Jersey Utilities Authority, Refunding LRB, Resource Recovery Facility, Covanta Union, Inc., Series A, AMT,
5.25%, 12/01/31

      5,710        6,223,900   

Education — 1.4%

  

Rutgers-The State University of New Jersey, RB, Series F, 5.00%, 5/01/39

      1,499        1,667,915   

State — 5.3%

  

  

New Jersey EDA, RB, School Facilities Construction (AGC):

     

6.00%, 12/15/18 (d)

      987        1,154,748   

6.00%, 12/15/34

      2,013        2,269,482   
 

 

                
   BLACKROCK NEW JERSEY MUNICIPAL INCOME TRUST    OCTOBER 31, 2015    3

Schedule of Investments (continued)

   

BlackRock New Jersey Municipal Income Trust (BNJ)

 

Municipal Bonds Transferred to

Tender Option Bond Trusts (f)

   

Par  

(000)

     Value  

New Jersey (continued)

                 

State (continued)

     

New Jersey EDA, Refunding RB, 5.00%, 3/01/29 (g)

    $ 2,787      $ 2,894,406   
    

 

 

  
               6,318,636   

Transportation — 13.4%

     

New Jersey State Turnpike Authority, RB, Series A,
5.00%, 1/01/38 (g)

      4,700        5,192,372   

New Jersey Transportation Trust Fund Authority, RB, Transportation System:

     

Series A (AMBAC), 5.00%, 12/15/32

      2,000        2,094,700   

Series B, 5.25%, 6/15/36 (g)

      2,501        2,592,721   

Port Authority of New York & New Jersey, RB, Consolidated, 169th Series, AMT, 5.00%, 10/15/41

      3,495        3,790,327   

Port Authority of New York & New Jersey, Refunding RB, Consolidated, 152nd Series, AMT,
5.25%, 11/01/35

      2,039        2,210,575   
    

 

 

  
               15,880,695   

Total Municipal Bonds Transferred to

Tender Option Bond Trusts — 25.4%

  

  

     30,091,146   

Total Long-Term Investments

(Cost — $180,393,564) — 162.0%

  

  

     192,105,710   
Short-Term Securities    Shares     Value  

BIF New Jersey Municipal Money Fund,
0.01% (h)(i)

      703,695      $ 703,695   

Total Short-Term Securities

(Cost — $703,695) — 0.6%

  

  

     703,695   
Total Investments
(Cost — $181,097,259*) — 162.6%		         192,809,405   
Other Assets Less Liabilities — 1.8%        2,206,213   

Liability for TOB Trust Certificates, Including Interest Expense and Fees Payable — (14.6)%

   

     (17,308,755 ) 
VMTP Shares, at Liquidation Value — (49.8)%        (59,100,000 ) 
    

 

 

  
Net Assets Applicable to Common
Shares — 100.0%		       $ 118,606,863   
    

 

 

  

 

*   As of period end, gross unrealized appreciation and depreciation based on cost for federal income tax purposes were as follows:

 

Tax cost

   $  163,990,655   
 

 

 

  

Gross unrealized appreciation

   $ 13,885,391   

Gross unrealized depreciation

     (2,367,923 ) 
 

 

 

  

Net unrealized appreciation

   $ 11,517,468   
 

 

 

  
 
Notes to Schedule of Investments

 

(a)   Issuer filed for bankruptcy and/or is in default of interest payments.

 

(b)   Non-income producing security.

 

(c)   Security exempt from registration pursuant to Rule 144A under the Securities Act of 1933, as amended. These securities may be resold in transactions exempt from registration to qualified institutional investors.

 

(d)   U.S. Government securities, held in escrow, are used to pay interest on this security, as well as to retire the bond in full at the date indicated, typically at a premium to par.

 

(e)   Zero-coupon bond.

 

(f)   Represent bonds transferred to a TOB Trust in exchange of cash and residual certificates received by the Trust. These bonds serve as collateral in a secured borrowing.

 

(g)   All or a portion of security is subject to a recourse agreement, which may require the Trust to pay the liquidity provider in the event there is a shortfall between the TOB Trust Certificates and proceeds received from the sale of the security contributed to the TOB Trust or in the event of a default on the security. In the case of a shortfall or default, the aggregate maximum potential amount the Trust could ultimately be required to pay under the agreements, which expire from June 15, 2019 to September 1, 2020, is $7,519,842.

 

(h)   During the period ended October 31, 2015, investments in issuers considered to be an affiliate of the Trust for purposes of Section 2(a)(3) of the Investment Company Act of 1940, as amended, were as follows:

 

                
4    BLACKROCK NEW JERSEY MUNICIPAL INCOME TRUST    OCTOBER 31, 2015   

Schedule of Investments (continued)

   

BlackRock New Jersey Municipal Income Trust (BNJ)

 

 

Affiliate      Shares Held
at July 31,
2015		        Net
Activity		        Shares Held
at October 31,
2015		        Income  

BIF New Jersey Municipal Money Fund

        1,096,513           (392,818 )         703,695         $ 14   

 

(i)   Represents the current yield as of period end.

For Trust compliance purposes, the Trust’s sector classifications refer to any one or more of the sector sub-classifications used by one or more widely recognized market indexes or rating group indexes, and/or as defined by the investment advisor. These definitions may not apply for purposes of this report, which may combine such sector sub-classifications for reporting ease.

 

Portfolio Abbreviations

 

AGC    Assured Guarantee Corp.
AGM    Assured Guaranty Municipal Corp.
AMBAC    American Municipal Bond Assurance Corp.
AMT    Alternative Minimum Tax (subject to)
ARB    Airport Revenue Bonds
CAB    Capital Appreciation Bonds
COP    Certificates of Participation
EDA    Economic Development Authority
GO    General Obligation Bonds
LRB    Lease Revenue Bonds
M/F    Multi-Family
NPFGC    National Public Finance Guarantee Corp.
RB    Revenue Bonds
S/F    Single-Family

 

Derivative Financial Instruments Outstanding as of Period End

Financial Futures Contracts

 

Contracts

Short

     Issue   Expiration  

Notional

Value

   Unrealized
Appreciation		  
  (7 )    5-Year U.S. Treasury Note   December 2015   $   838,414     10,054   
  (14 )    10-Year U.S. Treasury Note   December 2015   $1,787,625   $ 29,515   
  (6 )    Long U.S. Treasury Bond   December 2015   $   938,625     20,284   
  (1 )    U.S. Ultra Bond   December 2015   $   159,750     3,561   
  Total            $ 63,414   
       

 

 

  

 

                
   BLACKROCK NEW JERSEY MUNICIPAL INCOME TRUST    OCTOBER 31, 2015    5

Schedule of Investments (continued)

   

BlackRock New Jersey Municipal Income Trust (BNJ)

 

 

Fair Value Hierarchy as of Period End

Various inputs are used in determining the fair value of investments and derivative financial instruments. These inputs to valuation techniques are categorized into a fair value hierarchy consisting of three broad levels for financial reporting purposes as follows:

 

  •  

Level 1 — unadjusted price quotations in active markets/exchanges for identical assets or liabilities that the Trust has the ability to access

 

  •  

Level 2 — other observable inputs (including, but not limited to, quoted prices for similar assets or liabilities in markets that are active, quoted prices for identical or similar assets or liabilities in markets that are not active, inputs other than quoted prices that are observable for the assets or liabilities (such as interest rates, yield curves, volatilities, prepayment speeds, loss severities, credit risks and default rates) or other market–corroborated inputs)

 

  •  

Level 3 — unobservable inputs based on the best information available in the circumstances, to the extent observable inputs are not available (including Trust’s own assumptions used in determining the fair value of investments and derivative financial instruments)

The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurements) and the lowest priority to unobservable inputs (Level 3 measurements). Accordingly, the degree of judgment exercised in determining fair value is greatest for instruments categorized in Level 3. The inputs used to measure fair value may fall into different levels of the fair value hierarchy. In such cases, for disclosure purposes, the fair value hierarchy classification is determined based on the lowest level input that is significant to the fair value measurement in its entirety. The significant unobservable inputs used by the Global Valuation Committee in determining the price for Fair Valued Investments are typically categorized as level 3.

Changes in valuation techniques may result in transfers into or out of an assigned level within the hierarchy. In accordance with the Trust’s policy, transfers between different levels of the fair value hierarchy are deemed to have occurred as of the beginning of the reporting period. The categorization of a value determined for investments and derivative financial instruments is based on the pricing transparency of the investments and derivative financial instruments and is not necessarily an indication of the risks associated with investing in those securities. For information about the Trust’s policy regarding valuation of investments and derivative financial instruments, refer to the Trust’s most recent financial statements as contained in its annual report.

The following tables summarize the Trust’s investments and derivative financial instruments categorized in the disclosure hierarchy:

 

     Level 1        Level 2        Level 3      Total  

Assets:

                 
Investments:                 

Long-Term Investments11

     —         $ 192,105,710         —      $ 192,105,710   

Short-Term Securities

   $ 703,695           —         —        703,695   
 

 

 

  
Total   $ 703,695         $ 192,105,710         —      $ 192,809,405   
 

 

 

  

1    See above Schedule of Investments for values in each sector.

       

     Level 1        Level 2        Level 3      Total  
Derivative Financial Instruments 1                 

Assets:

                 

Interest rate contracts

   $ 63,414           —         —      $ 63,414   

1    Derivative financial instruments are financial futures contracts, which are valued at the unrealized appreciation (depreciation) on the instrument.

       

 

                
6    BLACKROCK NEW JERSEY MUNICIPAL INCOME TRUST    OCTOBER 31, 2015   

Schedule of Investments (concluded)

   

BlackRock New Jersey Municipal Income Trust (BNJ)

 

The Trust may hold assets and/or liabilities in which the fair value approximates the carrying amount for financial reporting purposes. As of period end, such assets and/or liabilities are categorized within the disclosure hierarchy as follows:

 

     Level 1        Level 2        Level 3      Total  

Assets:

                 

Cash pledged for financial futures contracts

   $ 49,750           —         —      $ 49,750   

Liabilities:

                 

TOB Trust Certificates

     —         $ (17,301,282 )       —        (17,301,282 ) 

VMTP Shares

     —           (59,100,000 )       —        (59,100,000 ) 
 

 

 

  
Total   $ 49,750         $ (76,401,282 )       —      $ (76,351,532 ) 
 

 

 

  

During the period ended October 31, 2015, there were no transfers between levels.

 

                
   BLACKROCK NEW JERSEY MUNICIPAL INCOME TRUST    OCTOBER 31, 2015    7

Item 2 – Controls and Procedures

 

2(a) –        The registrant’s principal executive and principal financial officers, or persons performing similar functions, have concluded that the registrant’s disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940, as amended (the “1940 Act”)) are effective as of a date within 90 days of the filing of this report based on the evaluation of these controls and procedures required by Rule 30a-3(b) under the 1940 Act and Rule 13a-15(b) under the Securities Exchange Act of 1934, as amended.
2(b) –   There were no changes in the registrant’s internal control over financial reporting (as defined in Rule 30a-3(d) under the 1940 Act) that occurred during the registrant’s last fiscal quarter that have materially affected, or are reasonably likely to materially affect, the registrant’s internal control over financial reporting.

Item 3 – Exhibits

Certifications – Attached hereto

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

 

  BlackRock New Jersey Municipal Income Trust  
  By:  

/s/ John M. Perlowski

    
    John M. Perlowski  
   

Chief Executive Officer (principal executive officer) of

BlackRock New Jersey Municipal Income Trust

  
  Date: December 22, 2015    
  Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.
  By:  

/s/ John M. Perlowski

    
    John M. Perlowski  
   

Chief Executive Officer (principal executive officer) of

BlackRock New Jersey Municipal Income Trust

  
  Date: December 22, 2015    
  By:  

/s/ Neal J. Andrews

    
    Neal J. Andrews  
   

Chief Financial Officer (principal financial officer) of

BlackRock New Jersey Municipal Income Trust

  
  Date: December 22, 2015