ACR92

Proposed constitutional amendment to use tax revenue from recreational marijuana sales for property tax relief.

This bill proposes a constitutional amendment to dedicate tax revenue from the sale of recreational marijuana to property tax relief. The amendment would create a special account in the Property Tax Relief Fund, called the Recreational Marijuana Sales Tax Account. The sales tax collected from recreational marijuana sales would be placed in this account and used exclusively for property tax relief. The relief would be in the form of a property tax credit for homeowners who own and occupy a home in New Jersey as their principal residence and pay property taxes annually.