Bill Text: NJ S1560 | 2012-2013 | Regular Session | Introduced

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Bill Title: "New Jersey Homeless Veterans Grant Program Act;" establishes New Jersey Homeless Veterans Grant Program and allows voluntary contributions on gross income tax returns to support homeless veterans.**

Spectrum: Moderate Partisan Bill (Democrat 6-1)

Status: (Introduced - Dead) 2014-01-13 - Substituted by A2011 (ACS) [S1560 Detail]

Download: New_Jersey-2012-S1560-Introduced.html

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SENATE, No. 1560

STATE OF NEW JERSEY

215th LEGISLATURE

 

INTRODUCED FEBRUARY 9, 2012

 

 

Sponsored by:

Senator  JIM WHELAN

District 2 (Atlantic)

 

 

 

 

SYNOPSIS

     Allows a voluntary contribution to homeless veterans on the gross income tax return, supplementing Title 54A of the New Jersey Statutes.

 

CURRENT VERSION OF TEXT

     As introduced.

  

An Act allowing a voluntary contribution to homeless veterans on the gross income tax return, supplementing 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 "Homeless Veterans Fund."

     b.    Each taxpayer shall have the opportunity to indicate on the taxpayer's New Jersey gross income tax return that three dollars of the taxpayer's tax refund or that a three dollar enclosed contribution shall be deposited in such fund in accordance with the provisions of section 1 of P.L.1999, c.21 (C.54A:9-25.14).  Taxpayers filing jointly shall have the opportunity to indicate on the taxpayers' New Jersey gross income tax return that six dollars of the taxpayers' tax refund or that a six dollar enclosed contribution shall be deposited in such fund in accordance with the provisions of section 1 of P.L.1999, c.21 (C.54A:9-25.14). 

     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 "Homeless Veterans Fund."

     d.    The Legislature shall annually appropriate all funds deposited in the "Homeless Veterans Fund" to the Department of Military and Veterans Affairs for distribution to homeless veterans throughout the State.

 

     2.    This act shall take effect immediately and shall apply to taxable years beginning on or after January 1 next following the date of enactment.

 

 

STATEMENT

 

     This bill allows a voluntary gross income tax contribution to homeless veterans in the amount of three dollars or six dollars for taxpayers filing jointly on the taxpayer's gross income tax return.  The bill establishes a special fund in the Department of the Treasury, to be known as the "Homeless Veterans Fund," to which all donations are deposited.  The bill provides for the annual appropriation of the monies contained in the special fund to the Department of Military and Veterans Affairs for distribution to homeless veterans throughout the State.

     The bill provides taxpayers the opportunity to help the brave men and women who have served our nation proudly and are now in need.