This Assembly Resolution (AR 50) urges Congress to renew enhanced premium tax credits set to expire at the end of 2025. It does not create new law but asks federal lawmakers to extend financial assistance that helps over 19 million Americans afford health insurance, including more than 500,000 New Jersey residents using Get Covered NJ. The resolution notes that without renewal, average annual insurance costs for affected individuals would rise by $1,260, with seniors facing increases up to $1,860 yearly. It emphasizes the credits' role in keeping premiums low (nearly half of New Jersey enrollees pay $10 or less monthly) and preventing a surge in uninsured residents.
This bill (A 1497) requires New Jersey's State Treasurer to develop and implement a zero-based budgeting process for the Governor's annual budget. It directly affects all state spending agencies (like departments and commissions) by mandating they justify every funding request from scratch - not based on prior year spending - starting with the 2020 fiscal year. Key provisions require agencies to submit detailed justifications including goals, cost estimates for current and minimum service levels, stakeholder impacts, and comparisons with similar programs. The process must be fully integrated into the budget preparation by July 1, 2020, as outlined in the bill's requirements for agency submissions. The bill is pending before the Assembly Budget Committee.
This bill exempts the retail sale of specific energy-saving products and services from New Jersey's sales and use tax. It directly affects consumers and businesses purchasing items like LED light bulbs, insulation, window caulk, furnace filters, weather stripping, tankless water heaters, and HVAC tune-up services. The key provision defines "energy-saving products" as those primarily designed to reduce energy consumption in homes and buildings, explicitly listing qualifying items. This tax exemption aims to lower costs for buyers of these efficiency-focused products.
This bill establishes a 10% credit (capped at $100 per month) against sales and use tax remittances for New Jersey small businesses that collect and remit these taxes. It directly affects independently owned businesses employing fewer than 20 full-time employees. The credit is applied automatically when businesses file their monthly tax returns, though the Division of Taxation may require documentation to verify eligibility. Businesses that falsify information to claim the credit face penalties of $100 for a first offense and $200 for subsequent offenses. The credit applies to tax collections remitted on or after the first day of the sixth month following the bill's enactment.
This bill increases New Jersey's child tax credit for families with children under age 12. It raises the income limit for full eligibility from $80,000 to $100,000 annually and boosts maximum credit amounts: up to $2,600 per child under age six for lower-income families, and $2,000 per child aged six to 11. The credit phases out gradually as income rises above $50,000, with no reduction for households earning $50,000 or less. It applies to New Jersey residents filing state tax returns with qualifying children under 12.
ACR 53 proposes amending New Jersey's Constitution to guarantee annual full funding for two specific property tax relief programs. It requires the state to distribute energy tax relief aid (based on 2018 levels adjusted for inflation) and Consolidated Municipal Property Tax Relief Aid (based on 2009 levels adjusted for inflation) directly to municipalities each year. The bill mandates that these funds be distributed in the same proportion to each municipality as in the specified baseline years, with inflation adjustments calculated using the U.S. Bureau of Economic Analysis' deflator rate. This change would prevent the state from redirecting these dedicated tax revenues to other programs, as has occurred in some past years. The bill does not alter the tax collections themselves but ensures municipalities receive constitutionally guaranteed annual aid amounts.
This bill establishes a state-funded program to increase pay for certified nurse aides in New Jersey. The Department of Health will distribute funds to employers (like nursing homes and hospitals) to raise wages for existing or new certified nurse aides, addressing staffing shortages. Employers must use the funds solely for wage increases, with the Health Commissioner setting application rules and compliance standards. The program is funded by a one-time appropriation from the General Fund and expires once the allocated funds are distributed.
This bill replaces two existing property tax relief funds (Energy Tax Receipts and Consolidated Municipal Property Tax Relief Aid) with a new "Municipal Property Tax Relief Fund" starting in 2026. The fund will receive annual revenue from energy-related sales taxes, utility corporation business taxes, and other specified utility tax payments, plus potential General Fund contributions to meet a target amount. Municipalities will receive annual payments based on a formula that guarantees each gets at least what they received in 2024/2025, with additional funds distributed using factors like population, median income, property valuation, and municipal distress levels. The bill eliminates prior funding mechanisms and establishes a new, indexed distribution system for state aid to local governments.
This bill adjusts the tax levy cap for New Jersey school districts that experience reductions in state school aid. It ensures these districts are not required to raise local property taxes as much when state funding decreases, by linking their required local tax levy directly to their state aid amount. The key mechanism requires the state commissioner to calculate each district's "required local share" based on their state aid level, preventing districts from facing higher tax increases during funding shortfalls. This policy directly affects school districts receiving state aid that may see reduced payments, providing them relief from mandatory tax hikes.
This bill establishes an annual two-month sales tax holiday in New Jersey, running from August 1 to September 30 each year. During this period, individual shoppers (not businesses) can purchase certain items tax-free, including computers under $3,000, school computer supplies under $1,000, and defined school supplies (like pens and notebooks), school art supplies (paints and clay), and school instructional materials (textbooks and reference books). The exemption applies only to non-business purchases made by consumers for personal educational use. The bill requires the state tax authority to implement the holiday with minimal administrative changes, effective 60 days after enactment.
