Budget & Taxes (Revenue) in New Jersey

in committee · New Jersey · General Assembly Jan 13, 2026

ACR 86: Proposes constitutional amendment to provide property tax exemption for primary residence owned and occupied by surviving spouse of first responder who dies in line of duty.

ACR 86 proposes a constitutional amendment to exempt the primary residence of a surviving spouse from property taxes if their spouse - a law enforcement officer, firefighter (paid or volunteer), or emergency medical responder (ambulance/rescue squad member) - died while on duty. The exemption applies as long as the surviving spouse continues to live in the home as their primary residence and does not remarry. The state would reimburse local taxing districts annually for the lost property tax revenue from these exempt properties. This change would directly affect surviving spouses of qualifying first responders in New Jersey who own their home.

Topics ✓ Budget & Taxes

Sub-Topics Property Tax Revenue Tax Incentives

in committee · New Jersey · General Assembly Jan 13, 2026

A 1262: Requires State reimbursement to local government units for first-year uncollected property tax revenue attributable to veterans' property tax exemption.

This bill (A 1262) requires the State of New Jersey to reimburse local governments (municipalities, counties, school districts, and fire districts) for property taxes they cannot collect during the **first year** a veteran qualifies for a 100% service-connected disability property tax exemption. It directly affects veterans who meet specific disability criteria (like paraplegia, blindness, or amputation) and the local governments that lose tax revenue when these exemptions take effect. The key mechanism mandates that tax collectors submit documentation to the State Treasurer within 10 days of exemption approval, and the State must reimburse local entities within 10 days of each quarterly tax bill due date. This policy change ensures local governments are financially compensated for the initial tax loss, not subsequent years.

Topics ✓ Budget & Taxes ✓ Veterans

Sub-Topics Property Tax Revenue Tax Incentives Veteran Healthcare

in committee · New Jersey · General Assembly Jan 13, 2026

A 3649: Establishes "County Tourism Incentive Grant Fund" within Department of Treasury to provide funding for grants to counties to support tourism advertising and promotion.

This bill creates a new "County Tourism Incentive Grant Fund" within New Jersey's Department of Treasury to provide grants to counties for tourism advertising and promotion. It uses excess revenue from hotel and motel occupancy fees (collected above what was budgeted for the prior fiscal year) to fund these grants. Counties must apply annually by October 1, detail how funds will be used for tourism promotion, and agree not to reduce existing tourism spending with the grant money. Grants are calculated based on each county's share of statewide hotel tax revenue, with payments made annually starting in fiscal year 2022.

Topics ✓ Budget & Taxes

Sub-Topics Revenue

in committee · New Jersey · General Assembly Feb 12, 2026

ACR 111: Proposes constitutional amendment to provide property tax exemption of 50 percent of assessed value for primary residence of police officer or firefighter who suffers a line of duty injury that qualifies for accidental disability pension.

ACR 111 proposes a constitutional amendment to provide a 50% property tax exemption on the primary residence of police officers or firefighters who suffer a line-of-duty injury qualifying for an accidental disability pension. The exemption would cover 50% of the home's assessed value, but would not reduce property taxes by more than $6,500 in the first year (adjusted annually for inflation) and excludes those earning over $500,000 annually. If approved, the state would reimburse municipalities for lost tax revenue, which would then be passed to counties and school districts. This amendment requires voter approval at the next general election after legislative passage.

Topics ✓ Budget & Taxes

Sub-Topics Pensions Property Tax Revenue

in committee · New Jersey · General Assembly Feb 19, 2026

A 1732: Appropriates $3 million annually to Freedom Schools in New Jersey using funds collected under Social Equity Excise Fee.

This bill allocates $3 million annually from cannabis tax revenue (Social Equity Excise Fee) to fund Freedom Schools in New Jersey. The funds are directed to the Department of State for direct support of these schools, subject to budget approval. It specifically affects Freedom Schools - public or community-based educational programs - by providing dedicated state funding through an existing tax revenue stream, without altering eligibility or program requirements. The measure takes immediate effect upon enactment.

Topics ✓ Budget & Taxes ✓ Education

Sub-Topics Revenue

in committee · New Jersey · General Assembly Jan 13, 2026

A 2517: Dedicates certain wine tax receipts to "Jersey Fresh Program Fund."

This bill redirects a portion of wine tax revenue to support New Jersey's agricultural branding program. Specifically, it requires the State Treasurer to deposit $0.21875 per gallon from taxes on wine, vermouth, and sparkling wine sales (paid by wineries) into the "Jersey Fresh Program Fund." The fund, established in 2017, will be fully appropriated annually to the Department of Agriculture to fund advertising, promotions, and quality grading for "Jersey Fresh" and related programs promoting locally grown food and products. This expands the fund beyond voluntary tax contributions to include dedicated wine tax revenue, directly supporting New Jersey farmers and consumers.

Topics ✓ Budget & Taxes

Sub-Topics Revenue

in committee · New Jersey · General Assembly Feb 19, 2026

A 4399: Requires municipalities comprised within regional school districts to share certain payments received in lieu of taxes with counties and regional school districts.

This bill modifies property tax exemption rules for urban renewal projects. Urban renewal entities must pay an annual service charge to the municipality instead of property taxes for exempt properties. The municipality is required to remit a portion of this service charge to the county. This ensures counties receive revenue from properties that would otherwise generate no local property tax revenue. The policy applies to all urban renewal projects covered under the existing tax exemption program.

Topics ✓ Budget & Taxes

Sub-Topics Property Tax Revenue Tax Incentives

in committee · New Jersey · General Assembly Jan 13, 2026

A 1178: Establishes a formula for the distribution of State aid to school districts.

This bill (A1178) establishes a new formula for distributing New Jersey's state school aid to public school districts. It directly affects all 600+ public school districts by determining their funding based on projected income tax revenue and student enrollment. The formula calculates per-pupil state aid by dividing the total projected state income tax revenue by the statewide student enrollment, then multiplying that amount by each district's projected enrollment. This replaces previous funding methods and aims to fulfill constitutional requirements for equitable school funding. The bill takes effect immediately upon enactment.

Topics ✓ Budget & Taxes ✓ Education

Sub-Topics Income Tax Revenue School Funding

in committee · New Jersey · General Assembly Feb 24, 2026

A 4447: Establishes spending freeze for Fiscal Year 2027; requires excess revenues collected in FY2027 to be deposited in Debt Defeasance and Prevention Fund.

This bill freezes state spending for Fiscal Year 2027 at 2026 levels for specific funds, including the State General Fund, Property Tax Relief Fund, Casino Control Fund, Casino Revenue Fund, and Gubernatorial Elections Fund. Any revenue collected in FY2027 exceeding the 2026 total must be deposited into the Debt Defeasance and Prevention Fund in 2028. The requirement does not apply to federal revenue or constitutionally dedicated state revenue. The bill takes effect immediately and expires on July 1, 2028.

Topics ✓ Budget & Taxes

Sub-Topics Property Tax Revenue State Budget

in committee · New Jersey · General Assembly Jan 13, 2026

A 1351: Increases amounts of certain payments in lieu of taxes paid for lands owned by State or nonprofit organization for recreation and conservation purposes.

This bill increases compensation payments to New Jersey municipalities for land owned by the State or qualifying nonprofit organizations for recreation and conservation purposes. It raises the initial 13-year payments (based on prior tax assessments) and establishes new annual per-acre rates after year 13, ranging from $3 to $40 per acre depending on the percentage of conservation land in the municipality. Payments are funded from the General Fund, not constitutionally dedicated moneys, and apply only to permanently preserved land. Municipalities receive these payments to offset lost tax revenue, with rates increasing as conservation land makes up a larger portion of the municipality's total area.

Topics ✓ Budget & Taxes ✓ Environment

Sub-Topics Revenue State Budget Conservation

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