SENATE SENIOR CITIZENS, VETERANS' AFFAIRS AND AGRICULTURE COMMITTEE

STATEMENT TO

SENATE, No. 552

with committee amendments

STATE OF NEW JERSEY

DATED: MAY 2, 1996

      The Senate Senior Citizens, Veterans' Affairs and Agriculture Committee reports favorably and with committee amendments Senate, No. 552.

      This bill would provide a $50 annual bonus to a war veteran or the surviving spouse of such a veteran residing in a continuing care retirement community. A bonus would be paid by the State Treasurer to each eligible claimant from funds appropriated by the Legislature for that purpose from the general fund of the State. An eligible claimant would apply for a bonus when filing a State income tax return or, if the claimant is not required to file a return or requests an extension to file a return, on such other form as the Director of the Division of Taxation shall prescribe. If a claimant is eligible to receive a property tax rebate, the bonus would be paid at the time the rebate is paid. In all other cases, the bonus would be paid as soon as practicable after receipt and review of an application. A veteran's bonus would be in addition to a property tax rebate or any other benefit to which the claimant may be entitled.

      The purpose of this bill is to correct an inequity which results from the fact that veterans residing in continuing care retirement communities are currently ineligible to receive the $50 property tax exemption available to veterans who are homeowners.

COMMITTEE AMENDMENTS: 

      The committee amended the bill to provide that the $50 annual bonus would be payable beginning with tax year 1996 instead of 1995.