A 2656 New Jersey General Assembly · 2024-2025 Regular Session

Requires municipalities to file copies of tax abatement and exemption agreements with county chief financial officer and county counsel within 10 days of execution.

This bill requires New Jersey municipalities to submit copies of all property tax abatement and exemption agreements to their county chief financial officer and county counsel within 10 days of signing. It directly affects local governments that grant short-term property tax breaks to developers or businesses. The key change shifts filing from the state Division of Local Government Services to county-level officials, while maintaining the existing requirement for municipalities to annually report tax exemption amounts to county officials by October 1. The bill updates existing law (P.L.1991, c.441) to streamline county oversight of these financial agreements.
Bill status in committee 1 of 4 stages cleared
Introduction
Jan 2024
Committee Review
Floor Vote
Governor
Introduced Jan 9, 2024 Last action Jan 9, 2024
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Jan 9, 2024
Introduced
Introduced in the Assembly, Referred to Assembly State and Local Government Committee
lower
1 primary · 1 co-sponsor

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