Bill > S638

This bill revises the Energy Tax Receipts Property Tax Relief Aid program. Starting in fiscal year 2022, it requires all energy taxes to be paid directly to municipalities rather than going through the state's Energy Tax Receipts Property Tax Relief Fund. The bill also changes the formula for determining the total amount of aid provided to municipalities, setting it as the greater of the prior formula or the total energy taxes due and payable that year. Additionally, the bill allows the State Treasurer to establish requirements for the timing and other aspects of the direct energy tax payments to municipalities.

Housing and Urban Affairs

https://www.njleg.state.nj.us/bill-search/2022/S638