Bill
Bill > A1636
summary
Introduced
01/09/2018
01/09/2018
In Committee
01/09/2018
01/09/2018
Crossed Over
Passed
Dead
01/08/2020
01/08/2020
Introduced Session
2018-2019 Regular Session
Bill Summary
This bill would prohibit a property which was developed using benefits from the "Grow New Jersey Assistance Act" or the "New Jersey Economic Stimulus Act of 2009" from receiving a property tax exemption under the "Five-Year Exemption and Abatement Law," or the "Long Term Tax Exemption Law." These types of properties and their owners have already benefitted from public dollars to increase the value of their investment, and there is no need for municipalities to provide additional benefits available through the law.
AI Summary
This bill prohibits properties that have received benefits from the "Grow New Jersey Assistance Act" or the "New Jersey Economic Stimulus Act of 2009" from receiving a property tax exemption or abatement under the "Long Term Tax Exemption Law" or the "Five-Year Exemption and Abatement Law." The rationale is that these types of properties and their owners have already benefited from public dollars to increase the value of their investment, and there is no need for municipalities to provide additional tax benefits through these laws.
Committee Categories
Housing and Urban Affairs
Sponsors (1)
Last Action
Introduced, Referred to Assembly Housing and Community Development Committee (on 01/09/2018)
bill text
bill summary
Loading...
bill summary
Loading...
bill summary
| Document Type | Source Location |
|---|---|
| BillText | https://www.njleg.state.nj.us/2018/Bills/A2000/1636_I1.HTM |
| Bill | https://www.njleg.state.nj.us/2018/Bills/A2000/1636_I1.PDF |
Loading...