S.1754

Increases distribution to municipalities from Energy Tax Receipts Property Tax Relief Fund over two years; prohibits anticipation of certain revenue.

New Jersey S1754 amends the Energy Tax Receipts Property Tax Relief Act to increase distribution to municipalities from the Energy Tax Receipts Property Tax Relief Fund over two years. It prohibits municipalities from anticipating certain revenue in their annual budgets and requires additional aid to be subtracted from the municipal property tax levy. The bill also extends the existing ETR Aid “poison pill” protection to ensure that each municipality receives an aid amount not less than the combined payment of CMPTRA and ETR Aid to municipalities in Fiscal Year 2012 and the additional aid.