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(TRENTON) - Legislation sponsored by Assembly Democrats Daniel Benson and Wayne DeAngelo (both D-Mercer/Middlesex) that would require certain energy tax receipts currently collected by the state be paid directly to municipalities was approved Thursday by an Assembly panel.
The intent of the bill is to ensure towns are able to collect the amounts of energy tax receipts that they were originally promised when the state revised the collection and distribution process in 1997. Energy tax receipts are tax revenue collected from utilities and energy companies.
"This money belongs to our municipalities. Telling cash-strapped towns that they need to do more to reduce the financial burden on taxpayers, while taking money away that helps them do that, is disingenuous and only sets them back," said Benson. "This bill returns this tax revenue to municipalities to help ease the burden of property taxes on residents as it was originally intended."
Contact Eva Loayza at (609) 847-3500
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