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  • NJ A545
  • Requires distribution of homestead benefits on or before October 31 of the State fiscal year during which an appropriation is made.
Introduced
(1/27/2016)
In Committee
(1/27/2016)
Crossed OverPassedSignedDead/Failed/Vetoed
2016-2017 Regular Session
This bill requires the distribution of homestead benefits on or before October 31 of the State fiscal year for which an appropriation of homestead benefits is made. Currently, the homestead benefit law requires the distribution of benefits for the prior tax year by October 31. The benefits for property taxes paid in property tax year 2012 should, by statute, have been paid in October of 2013. Due to an "unanticipated revenue shortfall" in State fiscal year 2012, the homestead benefits for property tax year 2011 were first delayed from October 2012 to May 2013, and due to an "unanticipated revenue shortfall" in State fiscal year 2013 were delayed a second time until August 2013. This Legislature, hopeful of setting things again upon a reasonable annual schedule, provided for the distribution of the next round of homestead benefits, for property tax year 2012, in August of 2014. However, that appropriations enactment was line-item vetoed by the Governor to set the date of the next anticipated distribution to May of 2015, or 21 months after the prior distribution. This bill returns the distribution of the homestead benefit to an annual October distribution, or 14 months after the prior distribution.
Budget
Introduced, Referred to Assembly Budget Committee  (on 1/27/2016)
 
 

Date Chamber Action Description
1/27/2016 A Introduced, Referred to Assembly Budget Committee
Date Motion Yea Nay Other
None specified