Maddy summaryThis bill requires cost-of-living adjustments (COLAs) for certain retired police and fire personnel and their beneficiaries receiving payments from New Jersey's Police and Firemen's Retirement System (PFRS). It applies only to those whose original retirement benefits were at or below 450% of the federal poverty level for a single person ($61,155 annually in 2022). The COLA, calculated using the Consumer Price Index, would be granted on January 1 of the year after the bill's effective date and the following year, with the percentage based on the beneficiary's income level relative to the poverty threshold. The state would appropriate funds from the General Fund to cover these adjustments, and beneficiaries can voluntarily waive the COLA with 30 days' notice.
Sponsored bills
Maddy summaryS 444 eliminates a supplemental fee on real estate transfers that was added to New Jersey's existing transfer fee system in 2003. This fee charged buyers based on property value: $0.25 per $500 for sales under $150,000, $0.85 for sales between $150k-$200k, and $1.40 for sales over $200k, with counties keeping $0.25 per $500 and the state receiving the rest. The bill specifically repeals Section 2 of P.L.2003, c.113 (C.46:15-7.1), which also included an extra $1.00 fee per $500 for "new construction" properties. It directly affects homebuyers and sellers in New Jersey who previously paid this supplemental charge on property transfers. The change takes effect immediately upon enactment.
Maddy summaryS 177 establishes a four-year pilot program to address teacher shortages and diversify school staff in New Jersey. It creates "Grow Your Own Partnerships" between school districts (especially low-income areas), charter schools, and colleges, covering tuition, fees, and housing for minority students who graduated from partner schools. Participants must agree to teach in their home district for at least three years after graduation. The program prioritizes partnerships in underserved communities and requires annual progress reports to the state.
Maddy summaryS 157 establishes a 11-member New Jersey Higher Education Funding Formula Commission to study and recommend a new state funding model for colleges and universities. The commission will examine funding approaches used in other states, gather data from all New Jersey higher education institutions (including medical, law, and graduate schools), and develop a proposed funding formula. It must issue a final report with recommendations to state leaders within six months of its first meeting, after which the commission will dissolve. This bill directly affects all public and private higher education institutions in New Jersey by initiating a formal review of how state funds are allocated to them.
Maddy summaryThis bill increases the annual amount credited to New Jersey's Shore Protection Fund from $25 million to $50 million. The funding comes from the State portion of realty transfer fees collected when property deeds are recorded - specifically, the $1.25 per $500 of property value paid to the State. The change directly affects the Shore Protection Fund, which uses these funds for coastal protection projects. The bill amends existing law to adjust the credit amount without altering the fee structure or creating new taxes.
Maddy summaryThis bill prohibits New Jersey's State Board of Education from restricting how many professional education credits earned at regionally accredited two-year colleges can count toward teacher certification requirements. It specifically applies to credits accepted by state-approved college teacher preparation programs. The law prevents the Board from setting arbitrary limits on these credits, making it easier for aspiring teachers to use coursework from two-year colleges toward certification. The bill takes effect immediately upon enactment.
Maddy summaryThis bill (S 1752) authorizes New Jersey to issue special vehicle license plates for active U.S. Coast Guard members and former members honorably separated from service. Eligible individuals, including their spouses, parents, or business owners (if the member is the principal), may obtain plates displaying the Coast Guard seal and identifying their status. A $25 fee applies per plate (in addition to standard registration fees), with funds covering implementation costs. The program allows fee adjustments or discontinuation if annual plate costs exceed the fee for two consecutive years.
Maddy summaryS 1986 establishes a 7-member School Funding Formula Evaluation Task Force to study New Jersey's current school funding system under the 2008 School Funding Reform Act. The task force, including the Commissioner of Education and six public members with education/finance expertise, will evaluate specific aspects like how school district budgets and local shares are calculated, weighting for at-risk students, special education funding methods, and geographic cost adjustments. It must hold public meetings across the state and issue a final report with recommendations to the Governor and Legislature within one year. This bill creates a procedural mechanism for reviewing the existing funding formula, directly affecting how state school aid is distributed to districts.
Maddy summaryThis bill allocates $4.32 billion from New Jersey's Debt Defeasance and Prevention Fund to all municipalities and counties for two key purposes: retiring existing local debt or funding capital projects (like infrastructure) without issuing new debt. It directs $3 billion to municipalities on an equal per capita basis (same amount per resident) and $1.32 billion to counties similarly. The funds, partially drawn from $1.97 billion in unallocated balances already in the fund, must be distributed within 30 days of enactment. The bill aims to provide immediate, efficient financial relief to local governments facing debt burdens.
Maddy summaryThis bill requires public employers in New Jersey - including municipalities, counties, school boards, and state agencies - to add a Roth contribution option to existing deferred compensation retirement plans. It mandates that employees can make after-tax contributions (which grow tax-free and can be withdrawn tax-free in retirement) through salary deductions, similar to federal rules. Currently, public employers aren’t required to offer this option, though they may choose to do so. The change applies to all public retirement plans established under state law, with implementation required 60 days after enactment.