Bill
Bill > S2346
NJ S2346
NJ S2346Requires municipalities comprised within regional school districts to share certain payments received in lieu of taxes with counties and regional school districts.
summary
Introduced
04/05/2018
04/05/2018
In Committee
04/05/2018
04/05/2018
Crossed Over
Passed
Dead
01/08/2020
01/08/2020
Introduced Session
2018-2019 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 would require municipalities that are part of a regional school district to share a portion of the payments they receive in lieu of property taxes from urban renewal entities with the county and the regional school district. The amount shared would be based on the prior year's distribution of property tax revenue to those entities. This change aims to provide additional funding to counties and regional school districts that serve these municipalities.
Committee Categories
Housing and Urban Affairs
Sponsors (2)
Last Action
Introduced in the Senate, Referred to Senate Community and Urban Affairs Committee (on 04/05/2018)
bill text
bill summary
Loading...
bill summary
Loading...
bill summary
| Document Type | Source Location |
|---|---|
| BillText | https://www.njleg.state.nj.us/2018/Bills/S2500/2346_I1.HTM |
| Bill | https://www.njleg.state.nj.us/2018/Bills/S2500/2346_I1.PDF |
Loading...