SENATE SENIOR CITIZENS, VETERANS' AFFAIRS AND AGRICULTURE COMMITTEE

 

STATEMENT TO

 

SENATE COMMITTEE SUBSTITUTE FOR

SENATE CONCURRENT RESOLUTION No. 25

 

STATE OF NEW JERSEY

 

DATED: SEPTEMBER 19, 1996

 

      The Senate Senior Citizens, Veterans' Affairs and Agriculture Committee reports favorably a Senate Committee Substitute for Senate Concurrent Resolution No. 25.

      This committee substitute proposes a constitutional amendment increasing the annual veterans' property tax deduction from $50 to $100 beginning in 1998. Senate Concurrent Resolution No. 25 provided that the increased deduction would become effective in 1997. However, this is no longer feasible since the earliest that the proposed constitutional amendment can appear on the ballot is at the general election held in November 1997.

      In addition, funds have been appropriated each year pursuant to statute to reimburse municipalities for the amount of the veterans' property tax deduction. The committee substitute would add language to the State Constitution to ensure that this practice will continue.