summary
Introduced
05/16/2024
05/16/2024
In Committee
05/16/2024
05/16/2024
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 requires that if a municipality has a median household income of $55,000 or greater, all employer payroll tax revenues collected must be deposited into a trust fund to be used exclusively for school purposes, including charter schools.
Committee Categories
Government Affairs
Sponsors (2)
Last Action
Introduced, Referred to Assembly State and Local Government Committee (on 05/16/2024)
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/A4376 |
| BillText | https://pub.njleg.gov/Bills/2024/A4500/4376_I1.HTM |
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