This bill creates a 90-day tax amnesty period in New Jersey that must conclude by January 15, 2027, allowing taxpayers to pay overdue state taxes from 2017 to 2026 with reduced interest and waived penalties. To participate, individuals must pay the full tax amount plus half of the accrued interest while agreeing to give up the right to appeal the tax assessment. Any money collected during this amnesty window will be placed into a dedicated account to provide stabilization funding for school districts, with an initial appropriation of up to $15 million. The program excludes taxpayers currently under criminal investigation for tax matters and requires them to file any missing tax returns by the end of the amnesty period.
This bill establishes a dedicated fund to manage money received from national opioid litigation settlements and appropriates up to $5 million annually for related state police initiatives. It designates the Department of Human Services as the lead agency responsible for distributing these funds to counties and municipalities while ensuring compliance with settlement terms. The legislation also creates a mechanism for the fund to earn interest and allows the department to adopt temporary regulations to oversee the allocation and reporting of these resources.
This bill requires New Jersey to pay child care subsidies for three- and four-year-olds at a rate equal to the state's per-pupil preschool education funding, but only for high-quality programs rated by the Grow NJ Kids system. It establishes an annual review process to adjust these subsidy amounts based on current education aid figures and mandates that the Division of Family Development create an application process for eligible providers. Additionally, the legislation directs state agencies to publish application information online and submit annual reports to the Governor and Legislature detailing the number of participating children and total spending, while also appropriating necessary funds from the General Fund.
This bill requires that any reduction in state school aid for a school district in one year be applied to that district's funding in the following year instead. The law ensures that districts facing cuts receive the full amount of aid they were entitled to in the current budget year, with the shortfall deducted from their allocation the next year. It directly affects public school districts in New Jersey that might otherwise experience immediate funding decreases. By deferring these reductions, the measure aims to provide more predictable financial planning for schools while maintaining the same total amount of aid over a two-year period.
This bill authorizes the New Jersey Infrastructure Bank to lend up to $3.85 billion to local governments and public water utilities for environmental infrastructure projects in fiscal year 2027. The funds are intended to help pay for the construction of facilities that manage water supply, wastewater treatment, and other environmental systems. Additionally, the legislation allows the bank to increase its lending capacity by including interest earned, administrative fees, and money transferred from specific state trust funds. These loans will be jointly managed by the Infrastructure Bank and the Department of Environmental Protection to ensure projects meet federal and state standards.
This New Jersey bill creates a tax credit program for businesses that hire workers under the age of 18. The measure is designed to help employers offset increased costs associated with recent minimum wage laws by reimbursing them for the difference between current required wages and what was previously paid. Eligible companies can apply for these credits against their state business or income taxes for tax years before January 1, 2032, and 2034. The amount of the credit is calculated based on the specific wage increases mandated by law compared to prior payments for those young employees.
This bill creates a new independent commission called the Commission on the Fiscal Integrity for Future Attractions to oversee agreements involving major events or attractions in New Jersey. The commission, which includes top state leaders like the Governor and legislative chairs, must review and approve any contracts where the state commits public resources such as transportation, security, or park facilities. Its decisions require a majority vote, and any agreements made without this approval are considered invalid. The commission will operate with public meetings and online access to its records, while being staffed by the Office of Legislative Services.
This New Jersey bill allows the Secretary of Agriculture to declare an agricultural emergency for up to six months when factors like rising fertilizer costs impact the state. During such an emergency, the sale of fertilizer would be temporarily exempt from state sales tax to help reduce costs for farmers and gardeners. The Secretary has the authority to set the specific criteria for declaring an emergency and can limit the tax break to certain areas if needed. Additionally, the bill directs the Division of Taxation to create rules for implementing this tax exemption while ensuring compliance with federal tax agreements.
This bill requires corporations in New Jersey to calculate their combined group tax liability based on worldwide income rather than just domestic earnings. It directly affects businesses that operate as combined groups, including those with foreign subsidiaries or partnerships, by mandating how their global profits are reported and taxed. The legislation updates existing tax laws to ensure that income from foreign branches is converted to U.S. dollars and adjusted for federal tax differences, while also clarifying how partnership income is included in the group's total. Additionally, it establishes specific rules for excluding certain treaty-based income and defines how limited partners in investment partnerships are treated within the combined group structure.
This bill proposes to exempt compensation paid to election workers from state taxation in New Jersey. It directly affects individuals who work during elections and the employers who pay their wages. The key provision amends existing unemployment compensation laws to remove tax liability for these specific workers. This change aims to provide financial relief to those involved in election duties without altering other parts of the state's tax code.
