Requires municipalities to share certain payments received in lieu of property taxes with school districts; informs counties and school districts of application for property tax exemption
S984 (Singleton) Under current law, a municipality must provide 5% of the payment in lieu of taxes to the county and are not required to provide any portion to the local school district. For far too long, local governmental entities have been able to approve development projects without considering how these projects would impact the public-school system. This bill is a forward step in the right direction toward ensuring that governmental entities whose actions can impact the operation, financing, student enrollment of school districts are communicating with their school district and considering how their actions will impact the children, employees, and finances of the local school district.
NJEA urges your support of this bill.