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Bill > A904
NJ A904
NJ A904Requires State reimbursement to municipalities of cost of disabled veterans' total property tax exemption.
summary
Introduced
01/14/2020
01/14/2020
In Committee
01/14/2020
01/14/2020
Crossed Over
Passed
Dead
01/11/2022
01/11/2022
Introduced Session
2020-2021 Regular Session
Bill Summary
This bill would require the State to annually reimburse each municipality in an amount equal to 102 percent of the amount of any disabled veterans' total property tax exemptions permitted by that taxing district in the current tax year pursuant to section 1 of P.L.1948, c.259 (C.54:4-3.30). It is the intent of the sponsor that the 102% reimbursement shall cover the cost of the actual taxes exempted plus any administrative costs that may be incurred by the municipalities due to the enactment of the bill.
AI Summary
This bill would require the State to annually reimburse each municipality in an amount equal to 102 percent of the cost of any disabled veterans' total property tax exemptions permitted by that taxing district in the current tax year. The bill also outlines the process for municipalities to certify the number and amount of these exemptions to the county and state, and gives the Director of the Division of Taxation the authority to inspect records and adopt regulations to implement the law.
Committee Categories
Military Affairs and Security
Sponsors (2)
Last Action
Introduced, Referred to Assembly Military and Veterans' Affairs Committee (on 01/14/2020)
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| BillText | https://www.njleg.state.nj.us/2020/Bills/A1000/904_I1.HTM |
| Bill | https://www.njleg.state.nj.us/2020/Bills/A1000/904_I1.PDF |
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