| *News Advisory*
Budget Committee to Consider Bills to Improve Affordability, Ensure Efficient Distribution of Opioid Settlements
Trenton – The Senate Budget and Appropriations Committee will meet Monday, February 28, at 1:00 P.M. in Committee Room 4 to consider various bills to improve affordability and government efficiency. The committee will vote on measures to reduce the property tax burden on homeowners and renters, as well as legislation to expand tax exemptions for retirement contributions.
The committee will also act on Senator Sarlo’s legislation applying public sanctions on Russia and on businesses and investments with ties to Russia.
The following bills will be considered: |
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| S330
Singleton/Scutari |
Increases distribution to municipalities from Energy Tax Receipts Property Tax Relief Fund over five years to restore municipal aid reductions; requires additional aid to be subtracted from municipal property tax levy. |
| S343
Singleton/Scutari |
Increases, from 18 percent to 30 percent, amount of rental payments defined as rent constituting property taxes for purposes of deduction from gross income for property tax payments. |
| S660
Oroho/Gopal |
Establishes that “100 percent Disabled Veterans” are not required to submit to MVC certain documentation to renew parking privileges. |
| S676
Bucco/Oroho |
Indexes for inflation taxable income brackets under New Jersey gross income tax. |
| S737
Lagana/Gopal |
Provides gross income tax exemption for contributions made to qualified retirement plans. |
| S757
Sarlo/Oroho |
Authorizes special occasion events at certain farms on preserved farmland, under certain conditions. |
| S783
Singleton/Beach |
Establishes Opioid Recovery and Remediation Fund and Opioid Recovery and Remediation Fund Advisory Council; provides for funds received from opioid settlements to support substance use disorder prevention and treatment programs. |
| S951
Turner |
Excludes certain contributions to deferred compensation plans and provides deduction for certain individual retirement savings under the gross income tax. |
| S1535
Greenstein |
Permits counties to operate airports as county utilities; provides that bonds for county and municipal airport purposes be issued in accordance with provisions of “Local Bond Law.” |
| S1802
Cryan/Scutari |
Makes $25 million supplemental appropriation to HMFA for Capital Improvement Assistance Program. |
| S1889
Sarlo |
Prohibits government dealings with businesses associated with Russia. |
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