Bill
Bill > A826
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 increases from $25 million to $50 million the amount that is annually credited to the Shore Protection Fund from the collection of realty transfer fees. The realty transfer fee is imposed on the recording of deeds transferring real property, and is calculated on the basis of the amount paid in the deed. The basic rate is $1.75 for each $500 of consideration, of which $0.50 is retained by the county and $1.25 is the State share. Currently, the first $25 million of the State share collected annually is credited to the Shore Protection Fund.
AI Summary
This bill increases the annual amount credited to the Shore Protection Fund from $25 million to $50 million. The Shore Protection Fund is financed by a portion of the realty transfer fee, which is a fee imposed on the recording of deeds transferring real property. The bill also specifies that no monies will be credited to the Highlands Protection Fund until the full $50 million has been credited to the Shore Protection Fund.
Committee Categories
Agriculture and Natural Resources
Sponsors (14)
Bob Andrzejczak (D)*,
JoAnn Downey (D)*,
Eric Houghtaling (D)*,
Sean Kean (R)*,
R. Bruce Land (D)*,
Vincent Mazzeo (D)*,
Edward Thomson (R)*,
John Armato (D),
Marlene Caride (D),
Herbert Conaway (D),
Thomas Giblin (D),
Greg McGuckin (R),
Matthew Milam (D),
David Wolfe (R),
Last Action
Introduced, Referred to Assembly Environment and Solid Waste 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/A1000/826_I1.HTM |
| Bill | https://www.njleg.state.nj.us/2018/Bills/A1000/826_I1.PDF |
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