Bill Text: NJ S1137 | 2010-2011 | Regular Session | Introduced
Bill Title: Provides for voluntary contributions by taxpayers on gross income tax returns for active duty members of United States Armed Forces, Reserve components thereof, and National Guard from New Jersey.
Spectrum: Partisan Bill (Democrat 1-0)
Status: (Introduced - Dead) 2010-02-04 - Introduced in the Senate, Referred to Senate Military and Veterans' Affairs Committee [S1137 Detail]
Download: New_Jersey-2010-S1137-Introduced.html
Sponsored by:
Senator JEFF VAN DREW
District 1 (Cape May, Atlantic and Cumberland)
SYNOPSIS
Provides for voluntary contributions by taxpayers on gross income tax returns for active duty members of United States Armed Forces, Reserve components thereof, and National Guard from New Jersey.
CURRENT VERSION OF TEXT
As introduced.
An Act concerning voluntary contributions through gross income tax returns for active duty members of the United States Armed Forces, the Reserve components thereof, and the National Guard from New Jersey and their families, and 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 "New Jersey Yellow Ribbon Fund."
b. Each taxpayer shall have the opportunity to indicate on the taxpayer's New Jersey gross income tax return that a portion of the taxpayer's tax refund or an enclosed contribution shall be deposited in the special 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. The State Treasurer shall deposit net contributions collected pursuant to this act into the "New Jersey Yellow Ribbon Fund."
d. The Legislature shall annually appropriate all funds deposited in the "New Jersey Yellow Ribbon Fund" established pursuant to this section to the Department of Military and Veterans' Affairs for the purposes of providing support that shall include, but not be limited to, support to defray the costs of food, housing, medical services, and other expenses to active duty members of the United States Armed Forces, the Reserve components thereof, and the National Guard from New Jersey and their families affected by extended deployment during Operations Enduring Freedom and Iraqi Freedom.
2. This act shall take effect immediately and shall apply to the taxable years beginning thereafter.
STATEMENT
This bill establishes the "New Jersey Yellow Ribbon Fund" and provides for a designation on the State gross income tax return that permits taxpayers to make voluntary contributions to the fund.
This fund will provide for support including, but not limited to, defraying the costs of food, housing, medical services, and other expenses to the active duty members of the United States Armed Forces, the Reserve components thereof, and the National Guard from New Jersey and their families affected by extended deployment during Operations Enduring Freedom and Iraqi Freedom. This support is intended to help New Jersey service members and their families cope during difficult times.
