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Bill > A686
NJ A686
NJ A686Requires State reimbursement to municipalities of cost of disabled veterans' total property tax exemption.
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 require the State to annually reimburse each municipality in an amount equal to 102 percent of the amount of any disabled veterans' total property tax exemptions permitted by that taxing district in the current tax year pursuant to section 1 of P.L.1948, c.259 (C.54:4-3.30). It is the intent of the sponsor that the 102% reimbursement shall cover the cost of the actual taxes exempted plus any administrative costs that may be incurred by the municipalities due to the enactment of the bill.
AI Summary
This bill requires the State to annually reimburse each municipality an amount equal to 102% of the total property tax exemptions granted to disabled veterans pursuant to existing law. The 102% reimbursement is intended to cover the actual taxes exempted plus any administrative costs incurred by municipalities. The bill also outlines the certification process for municipalities to report the number and total amount of disabled veterans' exemptions to the county and state, and authorizes the Director of the Division of Taxation to adopt regulations and inspect relevant records to effectuate the bill's provisions.
Committee Categories
Military Affairs and Security
Sponsors (2)
Last Action
Introduced, Referred to Assembly Military and Veterans' Affairs Committee (on 01/09/2018)
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| BillText | https://www.njleg.state.nj.us/2018/Bills/A1000/686_I1.HTM |
| Bill | https://www.njleg.state.nj.us/2018/Bills/A1000/686_I1.PDF |
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