SCR47

A Concurrent Resolution proposing to amend Article VIII, Section 1 of the Constitution of the State of New Jersey by adding a new paragraph 8 thereto.

Be It Resolved by the Senate of the State of New Jersey (the General Assembly concurring):

1. The following proposed amendment to the Constitution of the State of New Jersey is agreed to:

8. The receipts of any State tax levied on a public utility shall be dedicated to the municipalities of this State exclusively for the purpose of reducing or offsetting property taxes in the following proportions: beginning in the fiscal year commencing July 1 next following the adoption of this question by the voters, 73 percent of receipts shall be dedicated to municipalities and in each year thereafter for the following three years, the municipal share shall increase by five percentage points. Thereafter, 88 percent of those receipts shall be dedicated to municipalities.

2. When this proposed amendment to the Constitution is finally agreed to pursuant to Article IX, paragraph 1 of the Constitution, it shall be submitted to the people at the next general election occurring more than three months after the final agreement and shall ne published at least once in at least one newspaper of each county designated by the President of the Senate, the Speaker of the General Assembly and the Secretary of State, not less than three months prior to the general election.

3. This proposed amendment to the Constitution shall be submitted to the people at that election in the following manner and form:

There shall be printed on each official ballot to be used at the general election, the following:

a. In every municipality in which voting machines are not used, a legend which shall immediately precede the question, as follows:

If you favor the proposition printed below make a cross (X), plus (+) or check (•) in the square opposite the word ‘Yes’. If you are opposed thereto make a cross (X), plus (+) or check (•) in the square opposite the word ‘No’.

YES

CONSTITUTIONAL AMENDMENT TO DEDICATE THE RECEIPTS OF ANY STATE TAXES LEVIED ON A PUBLIC UTILITY TO THE MUNICIPALITIES OF THIS STATE.

Shall the amendment to Article VIII, Section I of the New Jersey Constitution agreed to by the Legislature, dedicating exclusively for the purpose of reducing or offsetting property taxes, the receipts of any State taxes levied on a public utility to the municipalities of this State, thereby restoring the municipal share of these revenues which has been retained by the State since State fiscal year 1983, be approved?

INTERPRETIVE STATEMENT

This constitutional amendment would restore the municipal share of the receipts of any State tax levied on a public utility which has been retained by the State every year since State fiscal year 1983, to be dedicated to the municipalities of this State exclusively for the purpose of reducing or offsetting property taxes.

This Senate Concurrent Resolution proposes to amend the State Constitution to restore the municipal share of the receipts of any State tax levied on a public utility to be dedicated to the municipalities of this State exclusively for the purpose of reducing or offsetting property taxes. A portion of the municipal share of these funds has been retained by the State every year since State fiscal year 1983.

The resolution provides that commencing July 1 in the year following the adoption of the constitutional amendment by the voters, the municipal share shall increase by five percent and it shall increase each year thereafter for the following three years.

Proposes Constitutional amendment to dedicate public utility tax revenues to municipalities exclusively to offset property taxes.