Assembly OKs energy tax receipts bill

TRENTON – A bill to restore certain state aid to towns – A2921 –  was passed in the Assembly 52-14-13.

The bill is a contentious issue over who gets to utilize energy tax receipts funds.

The bill would return to towns $331 million over five years in Energy Tax Receipts and Consolidated Municipal Property Tax Relief Aid.

The state collected the money for the towns but began to keep it for general fund uses, and the towns argued and lobbied strenuously this year for a return of the money to help them cope with the 2 percent tax cap imposed by the state.

Assembly OKs energy tax receipts bill