Provides gross income tax deductions for membership fees, dam project assessments, and potable water system project assessments paid to lake associations.
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Progress
Where this bill stands in the legislative process.
- Introduced
- Passed Senate
- Passed General Assembly
- To Governor
- Became Law
Overview
This bill would allow New Jersey taxpayers who are members of lake associations to deduct certain fees from their gross income. Specifically, it would allow deductions for membership fees, assessments for dam projects, and assessments for potable water system improvements paid to these associations. The bill aims to encourage support for lake association projects by providing a tax benefit to their members. It takes effect immediately and applies to tax years beginning after January 1st following its enactment.
Bill text
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Document of record
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Sponsors
Official sponsors from legislative records.
1 on record
Primary sponsor
Joseph Pennacchio
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