Bill Text: NJ ACR214 | 2016-2017 | Regular Session | Introduced

New Jersey Assembly Concurrent Resolution 214 (Prior Session Legislation)

Introduced

Bill Title: Proposes constitutional amendment to prohibit enactment of laws imposing tax on estates of individuals who die on or after January 1, 2018.

Spectrum: Partisan Bill (Republican 4-0)

Status: (Introduced - Dead) 2016-11-14 - Introduced, Referred to Assembly Budget Committee [ACR214 Detail]

Download: New_Jersey-2016-ACR214-Introduced.html

ASSEMBLY CONCURRENT RESOLUTION No. 214

STATE OF NEW JERSEY

217th LEGISLATURE

INTRODUCED NOVEMBER 14, 2016

Sponsored by:

Assemblyman DAVID P. RIBLE

District 30 (Monmouth and Ocean)

SYNOPSIS

Proposes constitutional amendment to prohibit enactment of laws imposing tax on estates of individuals who die on or after January 1, 2018.

CURRENT VERSION OF TEXT

As introduced.

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

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

1. The following proposed amendment to the Constitution of the State of New Jersey is agreed to:

PROPOSED AMENDMENT

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

8. No tax shall be levied by this State upon the transfer of the estate of a decedent who dies on or after January 1, 2018, whether or not subject to an estate tax payable to the United States under the provisions of the federal Internal Revenue Code (26 U.S.C. s.1 et seq.).

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 PROHIBITING NEW JERSEY ESTATE TAX FOR DEATHS OCCURING ON OR AFTER JANUARY 1, 2018
	YES	Do you approve amending the Constitution to prohibit a tax from being imposed on the estates of people who die on or after January 1, 2018? The amendment would prevent the State from changing the law to reimpose the estate tax on those estates after January 1, 2018.
		INTERPRETIVE STATEMENT
	NO	This amendment will ban State estate taxes for people who die on or after January 1, 2018. The Legislature and the Governor enacted a law to reduce the tax on the property of people who die on or after January 1, 2017. That law also ends this tax on the property of people who die on or after January 1, 2018. This amendment will prevent any law from being enacted that restores that tax after it ends.

STATEMENT

This proposed constitutional amendment prohibits the State from taxing the transfer of the estate of any individual who dies on or after January 1, 2018. This amendment effectively serves as a prohibition on reimposing the New Jersey estate tax that will no longer be imposed on decedent estates on or after January 1, 2018 as a result of the amendments to the New Jersey Estate tax made by P.L.2016, c.57. This constitutional prohibition does not apply to the New Jersey transfer inheritance tax that applies to transfers made by decedents to certain classes of beneficiaries and that is due to be paid from the beneficiaries and not from the estate itself.