New Jersey Assembly Bill ACR79

New Jersey 2024-2025 Regular Session

• Introduced: 1/9/24
• Refer: 1/9/24

Caption

Proposes constitutional amendment providing laws imposing, extending, or delaying repeal of State tax expire after five years unless extended by Legislature.

Impact

If passed, the amendment would significantly alter the governance of tax laws in New Jersey. By instituting a five-year expiration period for state taxes, the amendment encourages ongoing legislative scrutiny and public discourse regarding tax policies. It compels the legislature to carefully consider the extension of tax laws, potentially leading to more proactive tax management and budgetary planning. This could lead to an environment where taxes are regularly evaluated for their necessity and impact, promoting accountability in fiscal matters.

Summary

ACR79 is a proposed constitutional amendment to the New Jersey Constitution which aims to establish a definitive limit on the duration of state taxes and their extensions. Specifically, it mandates that any law imposing a state tax or delaying its repeal shall expire after five years unless the legislature enacts an extension. This legislative measure is intended to promote fiscal responsibility by preventing taxes from remaining indefinitely without periodic review.

Contention

However, the bill is not without its points of contention. Proponents argue that it safeguards taxpayers by ensuring that taxes do not linger indefinitely without justification. Critics, on the other hand, may express concerns that such a mechanism could jeopardize essential funding for public services, particularly if extensions are not granted for certain taxes. Additionally, there may be apprehensions regarding the legislative workload, as regular reviews of tax laws may place demands on lawmakers and the legislative process. The balance between necessary funding and taxpayer protection will be a critical aspect of the debate surrounding ACR79.