Bill Text: NJ ACR34 | 2024-2025 | Regular Session | Introduced

New Jersey Assembly Concurrent Resolution 34

Introduced

Bill Title: Proposes constitutional amendment to grant certain senior citizens property tax credit equal to 50 percent of property tax bill on primary residence.

Spectrum: Partisan Bill (Republican 2-0)

Status: (Introduced) 2024-01-09 - Introduced, Referred to Assembly Aging and Human Services Committee [ACR34 Detail]

Download: New_Jersey-2024-ACR34-Introduced.html

ASSEMBLY CONCURRENT RESOLUTION No. 34

STATE OF NEW JERSEY

221st LEGISLATURE

PRE-FILED FOR INTRODUCTION IN THE 2024 SESSION

Sponsored by:

Assemblyman ROBERT AUTH

District 39 (Bergen and Passaic)

Co-Sponsored by:

Assemblyman McGuckin

SYNOPSIS

Proposes constitutional amendment to grant certain senior citizens property tax credit equal to 50 percent of property tax bill on primary residence.

CURRENT VERSION OF TEXT

Introduced Pending Technical Review by Legislative Counsel.

A Concurrent Resolution proposing to amend Article VIII, Section I of the New Jersey Constitution by adding a new paragraph 8.

Be It Resolved by the General Assembly of the State of New Jersey (the Senate concurring):

1. The following proposed amendment to the Constitution is agreed to:

PROPOSED AMENDMENT

Amend Article VIII, Section I by adding a new paragraph 8 to read as follows:

8. The Legislature shall enact a law establishing the Stay NJ property tax credit program, to provide an annual property tax credit in the amount of 50 percent of the property tax due and owing, not to exceed $10,000, for the principal residence owned by a resident of this State age 65 or older. The law shall not establish any income restriction limiting eligibility to receive a Stay NJ property tax credit. The law shall also require that a resident of this State shall only be entitled to the greater of the amount of the Stay NJ property tax credit or the combined amount of any other property tax rebates or credits that the person shall be entitled to by law.

The law shall require that the amount of the credit shall be paid by the State to the municipality where the residence is located.

The law shall also entitle the surviving spouse of a deceased resident of this State who during the resident's life received a Stay NJ property tax credit, to the same Stay NJ property tax credit, upon the same conditions, with respect to the same homestead, so long as the surviving spouse does not remarry, remains a resident in the same homestead with respect to which the Stay NJ property tax credit was granted, and is at least 65 years of age.

2. When this proposed amendment to the Constitution is finally agreed to pursuant to Article IX, paragraph 1 of the Constitution, it shall be submitted to the people at the next general election occurring more than three months after the final agreement and shall be published at least once in at least one newspaper of each county designated by the President of the Senate, the Speaker of the General Assembly and the Secretary of State, not less than three months prior to the general election.

3. This proposed amendment to the Constitution shall be submitted to the people at that election in the following manner and form:

There shall be printed on each official ballot to be used at the general election, the following:

a. In every municipality in which voting machines are not used, a legend which shall immediately precede the question as follows:

If you favor the proposition printed below make a cross (X), plus (+), or check (a) in the square opposite the word "Yes." If you are opposed thereto make a cross (X), plus (+) or check (a) in the square opposite the word "No."

b. In every municipality the following question:

		CONSTITUTIONAL AMENDMENT TO GRANT CERTAIN SENIOR CITIZENS A 50 PERCENT PROPERTY TAX CREDIT
	YES	Do you approve amending the Constitution to provide a property tax credit to certain senior citizen homeowners? A senior citizen would have to be age 65 or older to qualify for the credit. The credit would be 50 percent of the amount of a senior citizen's property tax bill. The amount of the credit would be no more than $10,000 per tax year.
		INTERPRETIVE STATEMENT
	NO	This constitutional amendment provides a property tax credit of 50 percent of the amount of a senior citizen's property tax bill on their primary residence. A senior citizen would have to be 65 years of age to receive the credit. There would be no income limit for eligibility for the credit. The amount of the credit would be no more than $10,000 per tax year. The amount of the credit would be paid by the State to the town where the residence is located. The widow or widower of a person who received the credit would be able to continue to receive the credit on the same primary residence, if the widow or widower meets all other eligibility requirements.

STATEMENT

If approved by the voters of the State, this proposed constitutional amendment would require the Legislature to enact a law establishing the Stay NJ program, to provide an annual property tax credit in the amount of 50 percent of the property tax due and owing for the principal residence of any eligible claimant who is a resident of this State, age 65 or older. The purpose of this amendment is to enshrine in the New Jersey Constitution real and permanent property tax relief for the State's senior citizen population.

There would be no income restriction limiting eligibility to receive a Stay NJ property tax credit. The maximum amount to be credited to an eligible claimant would be $10,000 per tax year.

The surviving spouse of a deceased resident of this State who during his or her life received a Stay NJ property tax credit, would be entitled to receive the same Stay NJ property tax credit, upon the same conditions, with respect to the same principal residence, as long as the surviving spouse does not remarry, remains a resident in the same homestead with respect to which the Stay NJ property tax credit was granted, and is at least 65 years of age.