Budget committee to consider bills to improve affordability and ensure efficient distribution of opioid regulations
Ian Crawford
February 27, 2022
Retirement Savings
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| *News Notice*
Budget committee to consider bills to improve affordability and ensure efficient distribution of opioid regulations
Trenton– The Senate Budget and Appropriations Committee will meet Monday, February 28 at 1:00 p.m. in Committee Room 4 review various bills to improve government affordability and efficiency. The commission will vote on measures to reduce the property tax burden on homeowners and tenants, as well as legislation to extend tax exemptions for pension contributions.
The committee will also act on Senator Sarlo’s legislation applying public sanctions to Russia and companies and investments with ties to Russia.
The following invoices will be taken into account:
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| S330
Singleton/Scutari
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Increase distribution to municipalities of the Property Tax Relief Fund on energy tax receipts over five years to restore municipal assistance reductions; requires that the additional assistance be deducted from the municipal property tax levy. |
| S343
Singleton/Scutari
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Increases, from 18% to 30%, the amount of rent defined as rent constituting property taxes for the purpose of deducting from gross income for the payment of property taxes. |
| S660
Oroho/Gopal
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Establishes that “100% disabled veterans” are not required to submit certain documents to MVC to renew parking privileges. |
| S676
Bucco/Oroho
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Indices for taxable income brackets of inflation under the New Jersey Gross Income Tax. |
| S737
Lagana/Gopal
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Provides a gross income tax exemption for contributions made to qualified pension schemes. |
| S757
Sarlo/Oroho
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Authorizes circumstantial events on certain farms in a preserved agricultural environment, under certain conditions. |
| S783
Single/Beach
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Establishes the Opioid Recovery and Remediation Fund and the Opioid Recovery and Remediation Fund Advisory Council; provides funds received from opioid settlements to support prevention and treatment programs for substance use disorders. |
| S951
Turner
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Excludes certain contributions to deferred compensation plans and provides for the deduction of certain individual retirement savings from gross income tax. |
| S1535
Greenstein
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Allows counties to operate airports as county utilities; provides that bonds for county and municipal airport purposes shall be issued in accordance with the provisions of the “Local Bonds Act”. |
| S1802
Cryan/Scutari
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Provides an additional $25 million to HMFA for the Capital Improvement Assistance Program. |
| S1889
Sarlo
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Prohibits government relations with companies associated with Russia. |
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