Bill Text: NJ A2748 | 2012-2013 | Regular Session | Introduced
Bill Title: Permits municipalities and school districts to agree on payment dates and amounts for transfer of school purposes tax collections.
Spectrum: Partisan Bill (Republican 1-0)
Status: (Introduced - Dead) 2012-05-10 - Introduced, Referred to Assembly Housing and Local Government Committee [A2748 Detail]
Download: New_Jersey-2012-A2748-Introduced.html
Sponsored by:
Assemblyman RONALD S. DANCER
District 12 (Burlington, Middlesex, Monmouth and Ocean)
SYNOPSIS
Permits municipalities and school districts to agree on payment dates and amounts for transfer of school purposes tax collections.
CURRENT VERSION OF TEXT
As introduced.
An Act concerning the transfer of school funds between municipalities and school districts and amending R.S.54:4-75.
Be It Enacted by the Senate and General Assembly of the State of New Jersey:
1. R.S.54:4-75 is amended to read as follows:
54:4-75. The governing body of each municipality shall pay over to the board secretary or treasurer of school moneys, as appropriate, in the case of school districts in which appropriations for school purposes are made by the inhabitants of the school district, at the times and in the amounts agreed upon between the municipality and the Board of Education, or, if there is no agreement, then within forty days after the beginning of the school year, twenty per centum (20%) of the appropriation for local school purposes, and thereafter, but prior to the last day of the school year, the balance of the moneys raised in the municipality for school purposes in such amounts as may from time to time be requested by the Board of Education, within thirty days after each request. The Board of Education shall not request any more money at any one time than shall be required for its expenditures for a period of eight weeks in advance; provided, however, that the Board of Education may at any time, but not earlier than fifteen days prior to the beginning of the school year, request sufficient moneys to meet all interest and debt redemption charges maturing during the first forty days of the school year. The governing body may make payments of such moneys in advance of the time and in excess of the amounts required by this section. Notwithstanding provisions of this section to the contrary, in those years when the third installment of property taxes has been determined by the tax collector to be due after August 10, the installment shall be due no later than five days after the twenty-fifth day from when the tax bill was mailed or otherwise delivered pursuant to subsection a. of R.S.54:4-64, but no later than September 1, unless otherwise agreed between the municipality and the school district.
(cf: P.L.2010, c.39, s.36)
2. This act shall take effect immediately.
STATEMENT
This bill would permit a municipality and a school board to deviate from the rigid statutory payment schedule regulating the periodic transfer of school purposes tax collections. The municipality and school board would be permitted to enter into an agreement for different payment dates and amounts to better suit the specific needs of each entity.
