Bill
Bill > A1689
NJ A1689
NJ A1689Increases annual income limitation for senior and disabled citizens' eligibility for $250 property tax deduction and bases future annual income limitations on annual CPI changes.
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 increases the annual income limit for seniors and disabled persons to be eligible for an annual property tax deduction. The income limit increase reflects an increase in cost of living. The income limit increase from $10,000 to $20,000 reflects actual inflation from 1983 to 2013, and the annual income limit change thereafter will reflect the actual cost of living change for the past year. The bill uses the Consumer Price Index to determine increases in years after 2014 to ensure that the income limits remain realistic. The bill takes effect immediately, but will remain inoperative until the voters approve a constitutional amendment authorizing an increase in the income limit from $10,000 to $20,000, and annual increases thereafter.
AI Summary
This bill increases the annual income limit for seniors and disabled persons to be eligible for an annual $250 property tax deduction. The income limit is increased from $10,000 to $20,000 to reflect actual inflation from 1983 to 2013, and future annual income limit changes will be based on the Consumer Price Index to ensure the limits remain realistic. The bill will take effect immediately but remain inoperative until voters approve a constitutional amendment authorizing the increase in the income limit.
Committee Categories
Government Affairs
Sponsors (4)
Last Action
Introduced, Referred to Assembly State and Local Government Committee (on 01/14/2020)
Official Document
bill text
bill summary
Loading...
bill summary
Loading...
bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://www.njleg.state.nj.us/bill-search/2020/A1689 |
| BillText | https://www.njleg.state.nj.us/Bills/2020/A2000/1689_I1.HTM |
| Bill | https://www.njleg.state.nj.us/Bills/2020/A2000/1689_I1.PDF |
| BillText | https://www.njleg.state.nj.us/2020/Bills/A2000/1689_I1.HTM |
| Bill | https://www.njleg.state.nj.us/2020/Bills/A2000/1689_I1.PDF |
Loading...