ASSEMBLY, No. 1544

STATE OF NEW JERSEY

INTRODUCED FEBRUARY 15, 1996

By Assemblymen ROMA and AZZOLINA

An Act concerning an increase in the veteran's property tax deduction and amending P.L.1963, c.171.

    Be It Enacted by the Senate and General Assembly of the State of New Jersey:

    1. Section 2 of P.L.1963, c.171 (C.54:4-8.11) is amended to read as follows:

    2. Every person a citizen and resident of this State now or hereafter honorably discharged or released under honorable circumstances from active service in time of war in any branch of the Armed Forces of the United States and a surviving spouse as defined herein, during her widowhood or his widowerhood, and while a resident of this State, shall be entitled, annually, on proper claim being made therefor, to a deduction from the amount of any tax bill for taxes on real or personal property or both in the sum of [$50.00] $100.00 or if the amount of any such tax shall be less than [$50.00] $100.00, to a cancellation thereof.

(cf: P.L.1985, c.515, s.7)

    2. This act shall take effect immediately, but shall remain inoperative until the tax year following the passage and ratification of an authorizing amendment to Article VIII, Section I, paragraph 3 of the Constitution of the State of New Jersey.

STATEMENT

    This bill is the enabling legislation for a proposed Constitutional amendment which would increase the annual deduction for certain veterans and their surviving spouses.

    As reported, this bill provides that the deduction would be increased from $50.00 to $100.00 a year and be applied to real and personal property taxes.

    The additional cost for this deduction would be $21.4 million and be paid by the State to the appropriate municipalities to reduce the property tax bills of the eligible veterans and surviving spouses. The monies would be appropriated from the Property Tax Relief Fund as a State-aid object.