Quantcast

Garden State Times

Thursday, November 21, 2024

Proposed bill aims to boost school aid through tax amnesty program

Webp 0dfpcxhwobttmzde3ax07xipf6sg

Senator Anthony M. Bucco, Republican Leader - District 25 | Official U.S. Senate headshot

Senator Anthony M. Bucco, Republican Leader - District 25 | Official U.S. Senate headshot

Senator Carmen Amato, Jr., Assemblyman Brian Rumpf, and Assemblyman Gregory Myhre have introduced a bill aimed at providing additional state aid to financially struggling school districts. The legislation (S-3863 & A-5013) proposes a 90-day tax amnesty program, with the revenue generated directed towards stabilization aid for schools.

The proposed amnesty would apply to state tax liabilities for returns due from September 1, 2017, to January 1, 2025. The legislators emphasized the negative effects of current state school funding cuts on districts within the 9th Legislative District, including teacher layoffs and increased class sizes. They stated: “Draconian aid cuts under the inequitable and broken state school funding formula continue to have traumatic impacts on school districts...”

The proposal allows taxpayers who have not paid their state taxes to settle their debts by paying the unpaid tax amount and half of the interest balance due as of November 1, 2024. They would avoid further penalties and fees.

The delegation noted that while a tax amnesty program would provide temporary relief for schools in financial distress, it also highlights ongoing issues with the state's funding formula. They remarked: “A tax amnesty program would be a one-time infusion of aid for school districts but would also serve as a financial lifeline until the serious deficiencies within the school funding formula are finally rectified.”

Previously in April, they introduced legislation (S-3075/A-4166) intended to limit reductions in state school aid to no more than one percent compared to the previous year.

ORGANIZATIONS IN THIS STORY

!RECEIVE ALERTS

The next time we write about any of these orgs, we’ll email you a link to the story. You may edit your settings or unsubscribe at any time.
Sign-up

DONATE

Help support the Metric Media Foundation's mission to restore community based news.
Donate

MORE NEWS