Bill > A2667

Introduced Session

This bill establishes the "NJ Highlands Tax Fairness Fund" and provides for a designation on the State gross income tax return to allow taxpayers in certain municipalities in the Highlands in the northern part of the State to indicate that ten percent of their income tax be returned to their municipality of residence. The money in the fund would be appropriated and returned to eight municipalities which are 95 percent or more within the Highland's preservation zone, pursuant to the Highlands Water Protection and Planning Act, P.L.2004, c.120 (C.13:20-1 et seq.). This refunded amount must be used to directly reduce property taxes of residents. Further, aid received by an eligible municipality from the "NJ Highlands Tax Fairness Fund" would be in addition to any other State aid received by the municipality and could not be used to offset aid from another State program. The restrictions of the Highlands Act fall hard on the eight watershed host municipalities where no development is permitted. These municipalities are prevented from improving their ratables base to control and reduce property taxes. An additional burden on the resident taxpayers is lost property values. The eight municipalities are Bloomsbury Borough. Byram Township, Califon Borough, Glen Gardner Borough, Kinnelon Borough, Lebanon Township, Ringwood Borough and West Milford Township. The Highlands yields approximately 379 million gallons of water daily and is a vital source of drinking water for over five million residents of New Jersey.

AI Summary

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Jay Webber (R)*, 

Introduced, Referred to Assembly Environment, Natural Resources, and Solid Waste Committee (on 01/09/2024)

Official Document