New Jersey Assembly Bill A2999

New Jersey 2022-2023 Regular Session

• Introduced: 2/28/22
• Refer: 2/28/22

Caption

Requires State personal income tax materials to include notice of certain property tax relief programs.

Impact

This bill modifies sections of existing state tax laws, specifically P.L.1999, c.63, P.L.1997, c.348, and P.L.1996, c.60. By requiring that specific program information be included in the State's personal income tax materials, the bill aims to streamline communication from the government to the public about the available tax benefits. It places responsibility on the Director of the Division of Taxation to ensure that such notices are consistently incorporated in tax filing instructions starting from the tax year following enactment, thus facilitating a clearer guide for taxpayers to understand their options.

Summary

Assembly Bill A2999 mandates that materials related to State personal income tax include important notices regarding various property tax relief programs. Specifically, the bill focuses on ensuring taxpayers are informed about the Homestead Benefit Program and the Senior Freeze Program, alongside various property tax deductions and alternative credits available under the State’s personal income tax regulations. The intention is to enhance awareness and access to these programs that provide financial relief to qualifying citizens, particularly homeowners and seniors.

Contention

Notably, while the bill is designed to benefit taxpayers by increasing awareness of property tax relief options, there may be discussion regarding the effectiveness of such measures in actually improving the uptake of these benefits. Legislators may express differing opinions on whether merely providing notice is enough to increase participation among eligible individuals. Furthermore, the fiscal implications of these relief programs may also bring about debates, particularly in terms of budget allocations and potential revenue impacts on the state’s tax collection efforts.