New Jersey ACR53 amends the state constitution to mandate full funding of energy tax and local aid programs for municipalities annually.
New Jersey ACR53 proposes a constitutional amendment to ensure that the Energy Tax Receipts Property Tax Relief Act aid and Consolidated Municipal Property Tax Relief Aid programs are fully funded each year. The amendment mandates dedicated amounts to be distributed to municipalities. The energy tax, which imposes fees on certain utilities, and local aid, a group of taxes and fees collected by the state, are to be fully funded. The amendment sets base years for the amounts to be distributed, adjusted for inflation annually.
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- Legal Framework
- Critical Issues
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