Bill
Bill > A4399
NJ A4399
NJ A4399Requires municipalities comprised within regional school districts to share certain payments received in lieu of taxes with counties and regional school districts.
summary
Introduced
02/19/2026
02/19/2026
In Committee
02/19/2026
02/19/2026
Crossed Over
Passed
Dead
Introduced Session
2026-2027 Regular Session
Bill Summary
This bill would require municipalities comprised within a regional school district to provide a portion of the amounts received in lieu of property taxation from urban renewal entities to the county and to the regional school district. A municipality that receives a payment in lieu of taxation from an urban renewal entity would be required to distribute a portion of the amount received, immediately upon receipt, to the county and to the regional school district based upon the distribution of the amount raised by taxation in the taxing district to those entities in the prior year.
AI Summary
This bill requires municipalities that are part of a regional school district to share a portion of the payments they receive from urban renewal entities, which are payments made in lieu of property taxes, with both the county and the regional school district. These payments are typically made by entities undertaking redevelopment projects that are granted tax exemptions for a limited period. The bill specifies that this sharing of payments must occur immediately upon receipt and the proportion distributed to the county and regional school district will be based on how property tax revenue was distributed to them in the prior year, as shown on the tax bill. This aims to ensure that counties and regional school districts receive a share of the financial benefits generated by these redevelopment projects, even though the municipality itself is receiving payments instead of property taxes.
Committee Categories
Government Affairs
Sponsors (1)
Last Action
Introduced, Referred to Assembly State and Local Government Committee (on 02/19/2026)
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/2026/A4399 |
| BillText | https://pub.njleg.gov/Bills/2026/A4500/4399_I1.HTM |
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