 |
 |
| Title 01 Acts, Laws And Statutes | | Title 02a Administration Of Civil And Criminal Justice | | Title 03a Administration Of Estates--decedents And Others | | Title 04 Agriculture And Domestic Animals | | Title 05 Amusements, Public Exhibitions And Meetings | | Title 06 Aviation | | Title 07 Bills, Notes And Checks | | Title 09 Children--juvenile And Domestic Relations Courts | | Title 10 Civil Rights | | Title 11a Civil Service | | Title 12 Commerce And Navigation | | Title 12a Commercial Transactions | | Title 13 Conservation And Development--parks And Reservations | | Title 14 Acts Saved From Repeal | | Title 14a Corporations, General | | Title 15 Corporations And Associations Not For Profit | | Title 15a Corporations, Nonprofit | | Title 16 Corporations And Associations, Religious | | Title 17 Corporations And Institutions For Finance And Insurance | | Title 17b Insurance | | Title 18a Education | | Title 19 Elections | | Title 20 Eminent Domain | | Title 21 Explosives And Fireworks | | Title 22a Fees And Costs | | Title 23 Fish And Game, Wild Birds And Animals | | Title 24 Food And Drugs | | Title 25 Frauds And Fraudulent Conveyances | | Title 26 Health And Vital Statistics | | Title 27 Highways | | Title 28 Historic Memorials, Monuments And Sites | | Title 29 Hotels | | Title 2b Court Organization And Civil Code | | Title 2c The New Jersey Code Of Criminal Justice | | Title 30 Institutions And Agencies | | Title 31 Interest And Usury | | Title 32 Interstate And Port Authorities And Commissions | | Title 33 Intoxicating Liquors | | Title 34 Labor And Workmens Compensation | | Title 35 Legal Advertisements | | Title 36 Legal Holidays | | Title 37 Marriages And Married Persons | | Title 38 Militia--soldiers, Sailors And Marines | | Title 38a Military And Veterans Law | | Title 39 Motor Vehicles And Traffic Regulation | | Title 3b Administration Of Estates--decedents And Others | | Title 40 Municipalities And Counties | | Title 40a Municipalities And Counties | | Title 41 Oaths And Affidavits | | Title 42 Partnerships And Partnership Associations | | Title 43 Pensions And Retirement And Unemployment Compensation | | Title 44 Poor | | Title 45 Professions And Occupations | | Title 46 Property | | Title 47 Public Records | | Title 48 Public Utilities | | Title 49 Sale Of Securities | | Title 50 Shellfish | | Title 51 Standards, Weights, Measures And Containers | | Title 52 State Government, Departments And Officers | | Title 53 State Police | | Title 54 Taxation | | Title 54a New Jersey Gross Income Tax Act | | Title 55 Tenement Houses And Public Housing | | Title 56 Trade Names, Trade-marks And Unfair Trade Practices | | Title 58 Waters And Water Supply | | Title 59 Claims Against Public Entities |
|
|
|
|
| search a lawyer |
|
|
| ACTS, STATUTES |
|
|
|
|
|
|
|
|
|
|
|
|
| Home > Statutes > USA New Jersey |
|
USA Statutes : new_jersey
Title : TITLE 52 STATE GOVERNMENT, DEPARTMENTS AND OFFICERS
Chapter : 52:27D-439.
|
|
|
52:27D-439. ~Energy Tax Receipts Property Tax Relief Fund.~
2. a. Commencing July 1, 1997 there is established the ~Energy Tax Receipts Property Tax Relief Fund~ as a special dedicated fund in the State Treasury into which there shall be credited annually, commencing in State fiscal year 1998, the sum of $740,000,000 or the amount determined pursuant to subsection e. of this section from the following: net payments under the ~Sales and Use Tax Act,~ P.L.1966, c.30 (C.54:32B-1 et seq.) from sales and use of energy or utility services, net payments under the Corporation Business Tax Act (1945), P.L.1945, c.162 (C.54:10A-1 et seq.) from gas, electric, and gas and electric public utilities, whether municipal or otherwise, that were subject to tax pursuant to the provisions of P.L.1940, c.5 (C.54:30A-49 et seq.) prior to January 1, 1998, net payments under the Corporation Business Tax Act (1945), P.L.1945, c.162 (C.54:10A-1 et seq.) from telecommunications public utilities that were subject to tax pursuant to the provisions of P.L.1940, c.4 (C.54:30A-16 et seq.) as of April 1, 1997, net payments under P.L.1940, c.5 (C.54:30A-49 et seq.) from sewerage and water corporations, net payments under the ~Transitional Energy Facility Assessment Act,~ P.L.1997, c.162 (C.54:30A-100 through C.54:30A-113), and such sums from the General Fund as may be necessary to provide that the annual amount credited to the fund shall equal $740,000,000 or the amount determined pursuant to subsection e. of this section.
b. Notwithstanding the provisions of P.L.1940, c.4 (C.54:30A-16 et seq.), P.L.1940, c.5 (C.54:30A-49 et seq.) and any other provision of law concerning the apportionment and distribution by the State of taxes paid by public utilities,
(1) There shall be paid during the State fiscal year 1998 and during each fiscal year thereafter from the ~Energy Tax Receipts Property Tax Relief Fund~ to the municipalities of the State the sum of $740,000,000 or the amount determined pursuant to subsection e. of this section.
(2) A portion of the $740,000,000 or the amount determined pursuant to subsection e. of this section shall be allocated in a manner that provides that each municipality shall receive an amount not less than the largest annual amount received or to be received by the municipality from:
(a) the distribution of $685,000,000 from the proceeds of the public utilities franchise and gross receipts taxes under P.L.1940, c.4 (C.54:30A-16 et seq.) and P.L.1940, c.5 (C.54:30A-49 et seq.) in calendar year 1994, 1995 or 1996; or
(b) the distribution of $685,000,000 from the proceeds of the public utilities franchise and gross receipts taxes under P.L.1940, c.4 (C.54:30A-16 et seq.) and P.L.1940, c.5 (C.54:30A-49 et seq.) or from taxes and assessments collected in replacement of such taxes as released by the Division of Local Government Services in the Department of Community Affairs as fiscal year 1998 estimated franchise and gross receipts taxes State aid distributions by municipality prior to the certification of apportionment of such funds by the Director of the Division of Taxation and the amounts required pursuant to subsection d. of this section.
(3) A portion of the $740,000,000 or the amount determined pursuant to subsection e. of this section shall be allocated in a manner that provides that each municipality shall receive an amount equal to the difference, if any, between the amount it received pursuant to paragraph (2) of this subsection and the sum of the amounts that the municipality received pursuant to the certification made in the 1997 calendar year released by the Division of Local Government Services in the Department of Community Affairs as the fiscal year 1998 estimated franchise and gross receipts taxes State aid distribution of $685,000,000 and the certification of the 1997 fiscal year distribution of $45,000,000.
(4) The portion of the $740,000,000 or the amount, not more than $755,000,000, determined pursuant to subsection e. of this section remaining after the allocations pursuant to paragraphs (2) and (3) of this subsection shall be distributed in proportion to the amounts distributed pursuant to paragraph (2) of this subsection.
c. (1) The funds distributed pursuant to paragraphs (2) and (4) of subsection b. of this section shall be distributed annually to municipalities on the following schedule: July 15, 35% of the total amount due; August 1, 10% of the total amount due; September 1, 30% of the total amount due; October 1, 15% of the total amount due; November 1, 5% of the total amount due; and December 1, 5% of the total amount due.
(2) The funds distributed pursuant to paragraph (3) of subsection b. of this section, prior to January 1, 2002 for all municipalities, and distributed after January 1, 2002 for municipalities operating on a State fiscal year basis, shall be distributed annually to those municipalities on or before June 30. The funds distributed after January 1, 2002 pursuant to paragraph (3) of subsection b. of this section to calendar year municipalities shall be distributed annually on or before July 15.
d. The allocation set forth in paragraph (2) of subsection b. of this section shall be adjusted to increase each appropriate municipal distribution by the amount necessary to:
(1) make corrections to apportionment valuations or distribution values made by the Director of the Division of Taxation in the Department of the Treasury pursuant to R.S.54:30-2; and
(2) correct equitable distortions, as determined by the State Treasurer, resulting from the application of section 2 of P.L.1980, c.10 (C.54:30A-24.1) and section 4 of P.L.1980, c.11 (C.54:30A-61.1).
The director shall report to the Legislature, on or before July 15, 1997, the amount and distribution of the corrections pursuant to paragraphs (1) and (2) of this subsection.
e. The amount credited to the ~Energy Tax Receipts Property Tax Relief Fund~ shall be $745,000,000 for State fiscal year 1999, $750,000,000 for each of State fiscal years 2000 and 2001, $755,000,000 for State fiscal year 2002, and for each fiscal year thereafter the amount equal to the amount credited in the prior fiscal year multiplied by the sum of 1.0 and the index rate or zero, whichever is greater. As used in this section, ~index rate~ means the rate of annual percentage increase, rounded to the nearest half-percent, in the Implicit Price Deflator for State and Local Government Purchases of Goods and Services, computed and published quarterly by the United States Department of Commerce, Bureau of Economic Analysis, calculating the annual increase therein at the second calendar quarter which occurred in the next preceding State fiscal year. The Director of the Division of Local Government Services shall promulgate annually the index rate to apply in the next following State fiscal year which shall be the same as the index rate determined pursuant to section 4 of P.L.1983, c.49 (C.40A:4-45.1a). Any amount of aid distributed to a municipality in excess of the amount distributed to the municipality from the ~Energy Tax Receipts Property Tax Relief Fund~ during the State fiscal year 2002 shall be used solely and exclusively by each municipality for the purpose of reducing the amount the municipality is required to raise by local property tax levy for municipal purposes.
f. Notwithstanding any other provision of this section or any other provision of law to the contrary, if any municipality paid a county for an amount for county purposes from the amount it received from its apportionment of taxes according to the limitations on the municipalities apportionment under section 4 of P.L.1980, c.11 (C.54:30A-61.1), the highest amount of that payment during calendar years 1994, 1995, and 1996 shall be paid annually directly to that county by the State Treasurer and be deducted from that municipality@s distribution otherwise determined pursuant to paragraph (2) of subsection b. of this section.
L.1997,c.167,s.2; amended 1999, c.168, s.1; 2002, c.3.
|
|
|
|
