Bill Text: NJ A2504 | 2012-2013 | Regular Session | Introduced
Bill Title: Provides for voluntary contributions by taxpayers on gross income tax returns for the Meadowlands Conservation Trust.
Spectrum: Partisan Bill (Democrat 2-0)
Status: (Engrossed - Dead) 2012-05-31 - Received in the Senate, Referred to Senate Environment and Energy Committee [A2504 Detail]
Download: New_Jersey-2012-A2504-Introduced.html
Sponsored by:
Assemblyman VINCENT PRIETO
District 32 (Bergen and Hudson)
SYNOPSIS
Provides for voluntary contributions by taxpayers on gross income tax returns for the Meadowlands Conservation Trust.
CURRENT VERSION OF TEXT
As introduced.
An Act concerning voluntary contributions through gross income tax returns to benefit land preservation in the Hackensack River and Meadowlands Region, supplementing chapter 9 of Title 54A of the New Jersey Statutes.
Be It Enacted by the Senate and General Assembly of the State of New Jersey:
1. a. There is established in the Department of the Treasury a special fund to be known as the "NJ Meadowlands Conservation Fund."
b. Each taxpayer shall have the opportunity to indicate on the taxpayer's New Jersey gross income tax return that a portion of the taxpayer's tax refund or an enclosed contribution shall be deposited in the "NJ Meadowlands Conservation Fund" in accordance with the provisions of section 1 of P.L.1999, c.21 (C.54A:9-25.14).
c. Any costs incurred by the Division of Taxation for collection or administration attributable to this act may be deducted from receipts collected pursuant to this act, as determined by the Director of the Division of Budget and Accounting. The State Treasurer shall deposit net contributions collected pursuant to this act into the "NJ Meadowlands Conservation Fund."
d. The Legislature shall annually appropriate all funds deposited in the "NJ Meadowlands Conservation Fund" established pursuant to this section to the Meadowlands Conservation Trust established pursuant to section 3 of P.L.1999, c.31 (C.13:17-89) for the purposes of providing land preservation which is environmentally sensitive located in the Hackensack River and Meadowlands Region.
2. This act shall take effect immediately and apply to taxable years beginning on or after January 1, 2012.
STATEMENT
This bill establishes the "NJ Meadowlands Conservation Fund" and provides for a designation on the State gross income tax return that will permit taxpayers to make voluntary contributions to the fund to help support the work of the Meadowlands Conservation Trust.
The Meadowlands Conservation Trust benefits land preservation in the Hackensack River and Meadowlands Region. The trust acquires land to permanently preserve wetlands, waterways and open space in the Hackensack River Watershed. This offers flood protection, clean water, wildlife habitat and passive recreations.
