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June 20, 2012

Re: Senate Committee to Consider S-1900, Attention to Property Tax Relief Funding Restoration Growing

Dear Mayor:

As we reported yesterday (See or letter at http://www.njslom.org/letters/2012-0619-A2921.html.), the Assembly Budget Committee will consider A-2921:

Thursday, June 21, 2012
9:00 A.M.
Committee Room 11
State House Annex, Trenton, NJ

Later in the day, it was announced that the Senate Budget and Appropriations Committee would hear the companion bill, S-1900:

Thursday, June 21, 2012
9:30 A.M.
Committee Room 4
State House Annex, Trenton, NJ

The sponsors of this bill recognize that the time has come to begin to restore to local budgets the millions that were cut to meet State needs in FY 2009, 2010 and 2011.

In State Fiscal Year 2009, combined Energy Tax and CMPTRA funding was reduced by about $26 million. In State Fiscal Year 2010, the net loss equaled about $32 million.  In State Fiscal Year 2011, the State used over $271 million of these, supposedly ‘dedicated,’ local property tax relief dollars for other purposes.

The result of those cuts was increased property taxes, increased local budget stress, deferred investments, staffing cuts and service cuts.  A-2921/S-1900 ensure that each municipality in the State will be restored to the 2007 (SFY 2008) Energy Tax Receipts and Consolidated Municipal Property Tax Relief Aid level, over 5 years.

Please remind your Legislators that now is the time for action that will restore this vital funding to local budgets. That is where it was always meant to be. Ask your Assembly representatives and your State Senator to join as co-sponsors of A-2921/S-1900.

We thank Senator Sarlo, Assemblyman Singleton and their co-sponsors for their leadership on this. We also thank Assembly Budget Committee Chairman Assemblyman Vincent Prieto for his support and for allowing this bill to be considered. Senator Sarlo chairs the Senate Budget and Appropriations Committee.

For more information and a link to our latest Talking Points, visit our Restoration Resource Center at http://www.njslom.org/energy-tax-resource-center.html.  If you have any questions, contact Jon Moran at 609-695-3481, ext. 121 or jmoran@njslom.com

Very truly yours,

William G. Dressel, Jr.

Executive Director

 

 

 

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