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Bill > ACR106
NJ ACR106
NJ ACR106Proposes constitutional amendment eliminating cap on certain benefits to qualify for senior and disabled citizens' $250 property tax deduction.
summary
Introduced
01/29/2024
01/29/2024
In Committee
01/29/2024
01/29/2024
Crossed Over
Passed
Dead
Introduced Session
2024-2025 Regular Session
Bill Summary
This constitutional amendment would eliminate the cap on certain benefits for purposes of qualifying for the senior and disabled citizens' $250 property tax deduction. Currently, an eligible senior or disabled person qualifies for this deduction if they have an income of $10,000 or less. Certain government pension, disability, and retirement benefits provided in lieu of social security do not count as income for the purposes of this $10,000 limit. These benefits are only excluded from income up to the maximum social security benefit amount. Therefore, if these benefits exceed the maximum social security benefit amount, then the excess amount counts toward the $10,000 limit. This amendment would lift that cap and allow any amount of these benefits to be excluded from the $10,000 limit. Accordingly, senior or disabled persons may receive benefits greater than the maximum social security benefit amount and still be eligible for the $250 property tax deduction, provided that they do not have other income exceeding $10,000.
AI Summary
This concurrent resolution proposes a constitutional amendment that would modify the property tax deduction for senior and disabled citizens in New Jersey by eliminating the cap on certain retirement and disability benefits when calculating income eligibility. Currently, seniors or disabled citizens aged 65 or older can receive a $250 annual property tax deduction if their income does not exceed $10,000, with certain government pension, disability, and retirement benefits partially excluded from this limit. The proposed amendment would fully exclude these specific benefits from the income calculation, regardless of their amount, allowing more seniors and disabled persons to qualify for the tax deduction. Specifically, benefits from federal programs like Social Security, federal pension and disability programs, and state pension systems would be completely exempted from the $10,000 income limit. If approved by voters in a general election, this constitutional amendment would provide greater financial relief for seniors and disabled citizens by expanding their eligibility for the property tax deduction, potentially helping those with higher retirement or disability benefits to still receive the tax break.
Committee Categories
Health and Social Services
Sponsors (3)
Last Action
Introduced, Referred to Assembly Aging and Human Services Committee (on 01/29/2024)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://www.njleg.state.nj.us/bill-search/2024/ACR106 |
| BillText | https://pub.njleg.gov/Bills/2024/ACR/106_I1.HTM |
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