SENATE SENIOR CITIZENS, VETERANS' AFFAIRS AND AGRICULTURE COMMITTEE

STATEMENT TO

SENATE, No. 357

with committee amendments

STATE OF NEW JERSEY

DATED: SEPTEMBER 19, 1996

      The Senate Citizens, Veterans' Affairs and Agriculture Committee reports favorably Senate Bill, No. 357, with committee amendments.

      As amended, this bill would increase the annual deduction from property taxes assessed against or attributable to the dwellings of citizens and residents of the State, of age 65 years or older, or permanently and totally disabled, from $250 to $500, and would increase, from $10,000 to $15,000, the annual income limitation for eligibility to receive the $500 deduction.

      The committee amended the bill to: 1) increase the annual income limitation for eligibility from $10,000 to $15,000 beginning in 1997; 2) increase the amount of the deduction from $300 to $500 to begin in 1997 instead of 1985; and 3) delay the enactment of the bill until January 1 following enactment by the Legislature and approval of the voters of a Constitutional amendment authorizing the Legislature to increase from $250 to $500 the annual property tax deduction, and to increase from $10,000 to $15,000 the annual income limitation for eligibility to receive the $500 deduction, from property taxes assessed against or attributable to the homes of citizens and residents of the State, of age 65 or older or permanently and totally disabled.

      This bill was prefiled for introduction in the 1996 session pending technical review. As reported, the bill includes the changes required by technical review which has been performed.