Requires annual State aid payments to certain municipalities in which significant portions of State-owned and county-owned property is located.
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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 require the State of New Jersey to provide annual financial aid to specific municipalities that host a significant amount of State-owned and county-owned property. Eligible municipalities would be those with a population under 30,000 and at least 10% of their land area comprised of these properties. The State would pay $500 per acre of such property located within these municipalities, with the amount determined by the Division of Taxation and distributed annually from the Property Tax Relief Fund.
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