Budget & Taxes (Revenue) in New Jersey

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

A 3411: Provides for regional economic and land use impact report and establishes review processes related to development of certain large warehouses; and requires related real property reassessments.

This bill requires New Jersey municipalities to conduct a regional impact study before approving large warehouse developments. It mandates that municipalities assess effects on traffic, environment, and community resources in the host municipality and neighboring areas. After approval, municipalities must reassess all property values to ensure fair tax revenue distribution across the community. The law directly affects developers seeking permits for large warehouses and local governments managing land use planning.

Topics ✓ Budget & Taxes

Sub-Topics Revenue

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

A 935: Establishes "Property Tax Study Commission" to examine New Jersey's property tax structure and develop recommendations for reducing residential property tax burden.

This bill establishes a 15-member "Property Tax Study Commission" to examine New Jersey's property tax system and develop recommendations for reducing residential property tax burdens. The commission, including state officials and appointed public members with tax/finance expertise, must submit an interim report within 9 months and a final report within 12 months. Its recommendations must be revenue-neutral (not increasing or decreasing overall state revenue), address inequities, and explore alternatives to reduce local government reliance on property taxes. The final report will include specific legislative proposals and any constitutional changes needed, with annual follow-up reports for five years after the final report is issued. The bill directly affects all New Jersey homeowners and local governments by initiating a formal review of property tax policy.

Topics ✓ Budget & Taxes

Sub-Topics Property Tax Revenue

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

A 4300: Imposes 50 percent tax on gross receipts from operation of private carceral facilities in State; establishes "Immigrant Protection Fund."

This bill imposes a 50% tax on gross receipts from contracts between private companies and public entities for operating carceral facilities in New Jersey (e.g., private jails or detention centers). It directly affects private businesses running such facilities, requiring them to pay the tax annually based on their prior year’s revenue from these contracts. All tax revenue must be deposited into a new "Immigrant Protection Fund," which the state will use exclusively to fund immigration-related services. The fund is non-lapsing, meaning money stays available for future appropriations without annual renewal.

Topics ✓ Budget & Taxes ✓ Criminal Justice ✓ Immigration

Sub-Topics Revenue Detention Enforcement Sanctuary Policies

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

A 3527: Decreases the premium receipts tax for surplus lines insurance coverage.

New Jersey bill A3527 reduces the tax rate on surplus lines insurance premiums from 5% to 3% for both policies purchased directly by insureds and those handled through surplus lines agents. This directly affects insurance agents, brokers, and policyholders who use non-admitted insurers for commercial coverage, such as property or casualty insurance. The bill amends existing tax provisions to lower the rate while maintaining that 3% of fire insurance tax revenue goes to New Jersey firemen's relief associations and the remaining 2% to the state. It excludes government coverage, life insurance, and disability insurance from this tax change and takes effect January 1, 2013.

Topics ✓ Budget & Taxes

Sub-Topics Revenue

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

ACR 93: Proposes constitutional amendment to dedicate tax revenue from legal sale of recreational marijuana for mental health, addiction recovery and drug rehabilitation services.

ACR 93 is a proposed constitutional amendment that would require all tax revenue from New Jersey's legal recreational marijuana sales to be dedicated exclusively to mental health, addiction recovery, and drug rehabilitation services. If approved by voters, this amendment would mandate that funds collected under the state's marijuana sales tax (per the Sales and Use Tax Act) must be used solely for these specific services and cannot be diverted to other state budget needs. The amendment would become part of the state constitution only after voter approval in a general election.

Topics ✓ Budget & Taxes ✓ Criminal Justice ✓ Healthcare

Sub-Topics Revenue Sales Tax State Budget Drug Policy Mental Health Substance Abuse

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

A 1150: Authorizes proportional property tax exemption for honorably discharged veterans having a service-connected disability and requires State to reimburse municipalities for cost of exemption.

This New Jersey bill (A1150) creates a proportional property tax exemption for veterans with service-connected disabilities. It directly affects honorably discharged veterans whose disabilities (such as paralysis, blindness, or amputations) are certified by the VA as 25% to 100% service-connected. The exemption equals the veteran's disability percentage (e.g., 50% disability = 50% tax exemption) but caps partial exemptions at $15,000. To offset costs for local governments, the state must reimburse municipalities 102% of the tax revenue lost from these exemptions.

Topics ✓ Budget & Taxes ✓ Veterans

Sub-Topics Property Tax Revenue Tax Incentives Veteran Education Veteran Healthcare Veteran Housing

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

A 3635: Requires partial State reimbursement to municipalities for cost of disabled veterans' total property tax exemption.

This bill requires New Jersey to reimburse municipalities for a portion of lost property tax revenue caused by exempting permanently disabled veterans' primary homes from property taxes. It directly affects disabled veterans who qualify for the total exemption (e.g., those with paraplegia, blindness, or amputations from service-connected disabilities) and the municipalities that collect property taxes. The state must pay each municipality 10% of the exempted tax amount annually, plus an additional 2% to cover administrative costs. Currently, municipalities bear the full cost of these exemptions without state reimbursement.

Topics ✓ Budget & Taxes ✓ Veterans

Sub-Topics Property Tax Revenue Tax Incentives

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 & Taxes

Sub-Topics Revenue State Budget

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 & Taxes ✓ Housing

Sub-Topics Appropriations Property Tax Revenue Affordable Housing Property Taxes

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 & Taxes

Sub-Topics Property Tax Revenue Tax Incentives

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