Bill S-1, which is scheduled to be voted on today in the Senate Budget and Appropriations Committee, represents a legislative effort to exercise much-needed fiscal discipline for the state with the highest property taxes in the nation.

“These are very challenging fiscal times for New Jersey and our financial problems are deeply systemic,” said NJBIA Vice President of Government Affairs Christopher Emigholz. “New Jersey needs to recognize cost-savings wherever it can and pass that down to our property taxpayers. This bill takes a positive step in that direction.”

S-1, sponsored by Senate President Steve Sweeney (D-3) and Sen. Vin Gopal (D-11), encourages shared service agreements and joint contracts through modification of the “Uniform Shared Services and Consolidation Act.” Some modifications also include civil service relief for shared service agreements.

The bill is part of the “Path to Progress” report, issued by the New Jersey Fiscal Policy Working Group in 2018.

NJBIA continues to strongly advocate for the impactful reforms within the report to remedy the state’s high debt load and excessive taxation on already overburdened New Jersey residents and businesses.