Budget & Taxes (Revenue)

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

A 4143: "Long-Term Budget Outlook Act"; requires State Treasurer to prepare and submit annual multi-year fiscal outlook analysis report.

This bill (A4143, "Long-Term Budget Outlook Act") requires New Jersey's State Treasurer to prepare and submit two annual reports to the Governor and Legislature. The reports must project the state's budget outlook for the next three fiscal years (current year plus two subsequent years), including distinct forecasts of potential long-term budget gaps under optimistic, pessimistic, and baseline economic scenarios. Key provisions include detailed projections of all state revenues, appropriations, and fund balances using a "current services basis" (projecting costs to maintain existing programs), along with clear explanations of the assumptions used. These reports aim to provide transparency about future fiscal challenges to inform budget decisions.

Topics ✓ Budget & TaxesSupports Budget & TaxesRequires annual multi-year budget forecasts with fiscal gap analysis, promoting transparency and fiscal responsibility in state budget management.90% confidence

Sub-Topics Revenue State Budget

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

A 3528: Authorizes State constitutional convention to reform system of property taxation; makes appropriation.

This bill authorizes a constitutional convention to reform New Jersey's property tax system, requiring two public votes: one in 2012 to approve the convention and another in 2013 to ratify its recommendations. The convention must propose revenue-neutral changes (keeping total state tax revenue the same) to reduce property tax inequities, especially for low- and moderate-income residents, while maintaining current school funding and affordable housing obligations. It mandates that the convention complete its proposals by August 2013 for voter approval in November 2013, with any statutory changes subject to future legislative review.

Topics ✓ Budget & TaxesSupports Budget & TaxesBill targets property tax inequities for low/moderate-income residents through revenue-neutral reform, maintains school funding, and explicitly aims to reduce tax burdens via constitutional convention. Directly advances tax fairness within Budget ...95% confidence ✓ HousingSupports HousingBill explicitly mandates maintaining current affordable housing obligations during property tax reform, preventing reductions to existing protections.95% confidence

Sub-Topics Appropriations Property Tax Revenue Affordable Housing Property Taxes

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

ACR 31: Proposes constitutional amendment authorizing municipalities, by ordinance, to provide partial property tax exemption on primary residence of certain volunteer first responders.

ACR 31 proposes a constitutional amendment allowing New Jersey municipalities to create partial property tax exemptions for volunteer firefighters and first responders' primary homes. It would authorize cities or towns to pass local ordinances providing exemptions of up to 10% of a home's assessed value for active volunteer members of fire companies or first aid/rescue squads serving that municipality. The exemption applies only to the primary residence of eligible volunteers, with municipalities deciding the exact percentage (up to 10%) and the state not required to reimburse lost tax revenue. This amendment must be approved by voters before it can take effect.

Topics ✓ Budget & TaxesSupports Budget & TaxesProvides property tax exemption for volunteer first responders, reducing their tax burden as tax relief for public service workers.90% confidence

Sub-Topics Property Tax Revenue Tax Incentives

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

ACR 92: Proposes constitutional amendment to dedicate tax revenue from sale of recreational marijuana for property tax relief.

ACR 92 proposes a constitutional amendment to dedicate revenue from New Jersey's recreational marijuana sales tax to property tax relief. It would create a special "Recreational Marijuana Sales Tax Account" within the Property Tax Relief Fund, requiring all annual marijuana tax revenue to be automatically placed there. This dedicated funding must be used exclusively for a uniform property tax credit for homeowners who live in their home as their primary residence and pay annual property taxes. The amendment requires voter approval before taking effect, as it would change the state constitution.

Topics ✓ Budget & TaxesSupports Budget & TaxesDedicates marijuana tax revenue to property tax relief for primary homeowners, providing direct tax relief funding under fiscal management.95% confidence ✓ HousingSupports HousingBill dedicates marijuana tax revenue to property tax relief for primary residence homeowners, reducing housing costs and supporting affordability for homeowners.90% confidence

Sub-Topics Property Tax Revenue Sales Tax Property Taxes

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

ACR 47: Proposes an amendment to Constitution specifying a method of providing for the maintenance and support of a thorough and efficient system of free public schools and allocating all income tax receipts to school districts.

ACR 47 proposes a constitutional amendment to redirect New Jersey's personal income tax revenue directly to public schools. It would require all net receipts from the state's income tax to be allocated to school districts on a per-student basis, replacing the current system where such revenue partially funded property tax relief. The amendment specifies that this allocation would fulfill the state's constitutional duty to maintain "a thorough and efficient system of free public schools," while clarifying that the Legislature retains authority to provide additional school funding through other means. This change would modify Article VIII of the New Jersey Constitution to explicitly mandate school district funding from income tax revenue, rather than allowing flexibility for property tax relief or other uses.

Topics ✓ Budget & TaxesSupports Budget & TaxesRedirects all income tax revenue to public schools, replacing property tax relief funding, directly increasing school district budgets per student.95% confidence ✓ EducationSupports EducationRedirects all income tax revenue to school districts per-student, fulfilling constitutional duty for 'thorough and efficient' public schools, replacing property tax relief funding.95% confidence

Sub-Topics Income Tax Property Tax Revenue School Funding

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

A 637: Authorizes proportional property tax exemption for honorably discharged veterans having a service-connected permanent disability and proclaims that the State shall reimburse municipalities for cost of exemption.

This bill creates a property tax exemption for New Jersey veterans with service-connected disabilities. It provides a proportional exemption based on disability percentage (up to 100%), covering veterans with conditions like paralysis, amputations, or total blindness, and caps partial exemptions at $10,000. Surviving spouses of eligible veterans or those who died in service also qualify for similar exemptions. Crucially, the state will reimburse municipalities 102% of the lost tax revenue from these exemptions to offset costs. The law amends existing veteran property tax protections under P.L.1948, c.259.

Topics ✓ Budget & TaxesSupports Budget & TaxesProvides tax exemption for veterans with state reimbursement to municipalities, ensuring no net budget loss and aligning with fiscal responsibility.95% confidence ✓ VeteransSupports VeteransCreates proportional property tax exemption for veterans with service-connected disabilities, funded by state reimbursement to municipalities.95% confidence

Sub-Topics Property Tax Revenue Tax Incentives

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

A 3216: Requires taxation as real property of improvements on publicly owned real property used for purpose and protection of public water supply.

This bill (A 3216) changes New Jersey tax law to require municipalities to tax improvements like buildings, dams, and other structures on publicly owned land used for public water supply protection. Currently, the land itself is taxed, but improvements on public water supply property are exempt - unlike similar improvements on privately owned water supply land. The bill aligns public and private treatment by making these improvements subject to local property taxation in the same way as on private land. This change aims to provide municipalities with additional tax revenue from public water infrastructure, as stated in the bill’s purpose.

Topics ✓ Budget & TaxesSupports Budget & TaxesBill expands municipal tax base by taxing previously exempt public water infrastructure improvements, increasing local revenue for public services per fiscal alignment with private land treatment.95% confidence

Sub-Topics Revenue

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died · New Jersey · General Assembly Jan 13, 2026

A 801: Appropriates $34 million from constitutionally dedicated CBT revenues to State Agriculture Development Committee for county planning incentive grants for farmland preservation purposes.

This bill appropriates $34 million from constitutionally protected business tax revenues to fund farmland preservation grants. It provides counties with planning incentive grants covering up to 80% of the cost to acquire development easements on farmland, directly affecting eligible counties like Burlington, Gloucester, and Somerset. The funds are distributed through the State Agriculture Development Committee to support local efforts in preserving agricultural land. The grant amounts vary by county, with some receiving up to $8.5 million total. This policy change enables counties to protect farmland through permanent easements without requiring new tax revenue.

Topics ✓ Budget & TaxesSupports Budget & TaxesAppropriates existing constitutionally protected tax revenues to fund farmland preservation grants, directly advancing budget allocation for agricultural programs.90% confidence ✓ EnvironmentSupports EnvironmentFunds farmland preservation via development easements, conserving agricultural land as natural resource.95% confidence

Sub-Topics Business Taxes Revenue Conservation

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

ACR 95: Proposes constitutional amendment requiring State revenue estimates for purposes of a balanced State budget be determined by Governor in accordance with State Revenue Forecasting Integrity Commission.

ACR 95 proposes a constitutional amendment requiring New Jersey's Governor to certify state budget revenue estimates based on the State Revenue Forecasting Integrity Commission's published annual forecast, rather than using sole discretion. The Commission, to be established by law, would issue a revenue forecast by June 1 each year, which the Governor must follow when certifying budget balance. The Governor may adjust the forecast only for changes in current revenue or new laws affecting revenue, requiring a written explanation by July 15 for any deviations. This change shifts revenue forecasting from the Governor's unilateral authority to a collaborative process involving the Commission.

Topics ✓ Budget & TaxesSupports Budget & TaxesRequires Governor to use Commission's revenue forecast for budget balance, promoting fiscal responsibility and transparency in state budgeting process.95% confidence

Sub-Topics Revenue State Budget

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in committee · New Jersey · Senate Jan 13, 2026

S 254: Mandates that certain personnel critical to certain State finance and revenue generating activities are essential employees during state of emergency or government shutdown.

This bill requires New Jersey state employees critical to preserving the state's finances and revenue - specifically those working in licensed activities (like casinos or utilities that generate tax revenue) - to be designated as essential during emergencies or government shutdowns. It mandates that department heads must classify these staff as essential, requiring them to report to work and perform duties as directed by their agency. The law ensures continuous tax collection and safeguarding of financial assets during disruptions, preventing gaps in revenue that could delay government recovery after an emergency or budget impasse. It applies directly to licensed revenue-generating operations, not general state employees.

Topics ✓ Budget & TaxesSupports Budget & TaxesMandates essential status for finance/revenue staff during emergencies to ensure continuous tax collection, directly protecting state budget stability and revenue streams.95% confidence

Sub-Topics Revenue

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