• Views: in the last
  • 26Week
  • 22Month
  • 154Total


  • NJ A201
  • Increases State appropriations to Energy Tax Receipts Property Tax Relief Fund by $387 million to restore municipal aid reductions from Fiscal Years 2009, 2010, and 2011.
Introduced
(1/27/2016)
In Committee
(1/27/2016)
Crossed OverPassedSignedDead/Failed/Vetoed
2016-2017 Regular Session
This bill amends P.L.1997, c.167, the "Energy Tax Receipts Property Tax Relief Act," (C.52:27D-438 et seq.) to require the distribution of an additional $387 million in State aid that would be paid to municipalities as Energy Tax Receipts Property Tax Relief Aid (ETR Aid). This supplemental funding would restore $331 million in State aid reductions to Consolidated Municipal Property Tax Relief Aid (CMPTRA) in Fiscal Years 2009, 2010, and 2011 and provide the inflation-based increase in CMPTRA required by current law. Although current law provides for annual inflation-based increases in both CMPTRA and ETR Aid, budget constraints required reductions in the amount of CMPTRA distributed to all municipalities in Fiscal Years 2009, 2010, and 2011. Half of the State aid appropriated by this bill, $193.5 million, would be distributed to municipalities in Fiscal Year 2013 and additional 25%, $96.75 million, would be distributed in Fiscal Years 2014 and 2015 respectively. The full amount would be distributed beginning in Fiscal Year 2016 and in each fiscal year thereafter. Municipalities are required to use ETR Aid to reduce the property tax levy for municipal purposes. No municipality is permitted to receive an additional amount of aid that is greater than its combined Fiscal Year 2008 payment of CMPTRA and ETR Aid. CMPTRA was established in Fiscal Year 1996 Appropriations Act. The State froze aid payments to municipalities provided through 15 separate programs and combined them into one amount distributed to each municipality. The State created the "Energy Tax Receipts Property Tax Receipts Property Tax Relief Fund" as a dedicated fund to replace the Gross Receipts and Franchise Tax on electric, natural gas, and telecommunications utilities in 1997. Certain revenues generated by the Corporation Business Tax, Sales and Use Tax, and the Transitional Energy Facilities Assessment are deposited into the fund. Amounts distributed through both programs are used by municipalities means of reducing the municipal property tax levy.
Not specified
Introduced, Referred to Assembly State and Local Government Committee  (on 1/27/2016)
 
 
Date Chamber Action Description
1/27/2016 A Introduced, Referred to Assembly State and Local Government Committee
Date Motion Yea Nay Other
None specified