summary
Introduced
05/06/2024
05/06/2024
In Committee
05/06/2024
05/06/2024
Crossed Over
Passed
Dead
01/12/2026
01/12/2026
Introduced Session
2024-2025 Regular Session
Bill Summary
This bill amends the local payroll tax law to allow the municipality collecting a local payroll tax to use up to five percent of the funds collected under the local payroll tax annually to cover administrative costs associated with the collection and administrations of the local payroll tax.
AI Summary
This bill amends the local payroll tax law to allow the municipality collecting a local payroll tax to use up to 5% of the funds collected annually to cover administrative costs associated with the collection and administration of the local payroll tax. The bill also allows municipalities with a median household income of $55,000 or greater to deposit the remaining 95% of the payroll tax revenue into a trust fund to be used exclusively for school purposes, including charter schools.
Committee Categories
Housing and Urban Affairs
Sponsors (1)
Last Action
Introduced in the Senate, Referred to Senate Community and Urban Affairs Committee (on 05/06/2024)
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/S3151 |
| BillText | https://pub.njleg.gov/Bills/2024/S3500/3151_I1.HTM |
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