Bill Text: NJ A3891 | 2018-2019 | Regular Session | Introduced
Bill Title: Allows voluntary contributions on gross income tax returns to support Affordable Housing Alliance.
Spectrum: Partisan Bill (Democrat 5-0)
Status: (Introduced - Dead) 2018-05-07 - Reported and Referred to Assembly Appropriations Committee [A3891 Detail]
Download: New_Jersey-2018-A3891-Introduced.html
Sponsored by:
Assemblyman ERIC HOUGHTALING
District 11 (Monmouth)
Assemblywoman JOANN DOWNEY
District 11 (Monmouth)
SYNOPSIS
Allows voluntary contributions on gross income tax returns to support Affordable Housing Alliance.
CURRENT VERSION OF TEXT
As introduced.
An Act allowing voluntary contributions through gross income tax returns to support Affordable Housing Alliance, supplementing chapter 9 of Title 54A of the New Jersey Statutes.
Be It Enacted by the Senate and General Assembly of the State of New Jersey:
1. a. There is established in the Department of the Treasury a special fund to be known as the "Affordable Housing Alliance Fund."
b. A taxpayer shall have the opportunity to indicate on the taxpayer's New Jersey gross income tax return that a portion of the taxpayer's gross income tax refund or an enclosed contribution be deposited in the "Affordable Housing Alliance Fund."
c. Any costs incurred by the Division of Taxation for collection or administration attributable to this section may be deducted from receipts collected pursuant to this section, as determined by the Director of the Division of Budget and Accounting in the Department of the Treasury. The State Treasurer shall deposit net contributions collected pursuant to this section into the "Affordable Housing Alliance Fund."
d. The Legislature shall annually appropriate all moneys deposited in the "Affordable Housing Alliance Fund" established pursuant to this section for distribution to Affordable Housing Alliance, Inc. for the purpose of providing assistance to those needing housing and related assistance in New Jersey.
2. This act shall take effect immediately and apply to taxable years beginning the taxable year following enactment.
STATEMENT
This bill establishes the "Affordable Housing Alliance Fund" and provides for a designation on the State gross income tax return that will permit taxpayers to make voluntary contributions to the fund for distribution to Affordable Housing Alliance, Inc. for the purpose of providing assistance to those needing housing and related assistance in New Jersey.
Affordable Housing Alliance is a nonprofit 26 U.S.C. 501(c)(3) tax exempt corporation based in New Jersey whose mission is to provide assistance to those in need of housing and related assistance. In addition to providing affordable housing, Affordable Housing Alliance manages several utility assistance programs, and provides counseling and workshops related to home ownership.
