Bill Text: NJ A2487 | 2012-2013 | Regular Session | Introduced
Bill Title: Provides for voluntary waiver of compensation by members of Senate and General Assembly.
Spectrum: Partisan Bill (Republican 2-0)
Status: (Introduced - Dead) 2012-02-21 - Introduced, Referred to Assembly State Government Committee [A2487 Detail]
Download: New_Jersey-2012-A2487-Introduced.html
Sponsored by:
Assemblyman SCOTT RUDDER
District 8 (Atlantic, Burlington and Camden)
Assemblyman CHRISTOPHER J. BROWN
District 8 (Atlantic, Burlington and Camden)
SYNOPSIS
Provides for voluntary waiver of compensation by members of Senate and General Assembly.
CURRENT VERSION OF TEXT
As introduced.
An Act providing for the voluntary waiver of compensation by members of the Senate and General Assembly and supplementing P.L.1948, c.16 (C.52:10A-1).
Be It Enacted by the Senate and General Assembly of the State of New Jersey:
1. A member of the Senate or General Assembly may during their current term, waive and renounce for the member and the member's heirs and legal representatives for the current term for which the member holds office, all or a part of the compensation that shall be established by law to be paid to each member upon qualifying into office. The waiver shall be filed in the office of the Secretary of the Senate or the Clerk of the General Assembly, as may apply for the member, and in the office of the State Treasurer. Any amount so waived and renounced shall not be deemed regular compensation, salary or wages for the purposes of determining that person's benefits, including but not limited to retirement benefits, health benefits, and insurance benefits. Any amount so waived and renounced shall not be deemed to be constructively received for the purposes of taxation and shall be exempt from tax under the "New Jersey Gross Income Tax Act," N.J.S.54A:1-1 et seq. Any such member, the member's heirs or legal representatives shall have no claim to any amount so waived and renounced.
2. This act shall take effect immediately.
STATEMENT
This bill provides for the voluntary waiver by Legislators of all or part of their legisative salary. The bill provides for a binding waiver to be filed in the office of the Secretary of the Senate or the Clerk of the General Assembly, as may apply for the member, and in the office of the State Treasurer. The amount waived will not be considered in determining other benefits that are established for the office, such as retirement benefits, health benefits and insurance benefits. The bill also deems that the amount of compensation that is waived is not to be considered income for tax purposes.
