ASSEMBLY COMMERCE AND MILITARY AND VETERANS' AFFAIRS COMMITTEE

STATEMENT TO

ASSEMBLY COMMITTEE SUBSTITUTE FOR

ASSEMBLY, Nos. 176 and 1544

STATE OF NEW JERSEY

DATED: JUNE 3, 1996

      The Assembly Commerce and Military and Veterans' Affairs Committee reports favorably an Assembly Committee Substitute for Assembly, Nos.176 and 1544.

      This committee substitute increases the annual property tax deduction for certain veterans and surviving spouses of those veterans from $50 to $100. It would take effect on January 1 next following approval by the voters of an amendment to the New Jersey Constitution authorizing the increase.