BAR REPORT - Jan. 17, 2022
Flurry of bills await governor's signature. NJICLE virtual Family Law Symposium to present cutting-edge topics. Diversity Committee seeks nominations for Narol Award. NJSBA to welcome new attorneys at hybrid swearing-in ceremony.
January 17, 2022 at 08:00 AM
8 minute read
NJSBA headquarters, New Brunswick, NJ. Credit: Google
Capitol Report: Flurry of bills await governor's signature
On the final day of the lame duck session that ended last week, the Legislature moved a number of bills that will change the practice of law in certain areas.
• Refunds as property tax credits
The New Jersey State Bar Association (NJSBA) initially opposed A-862 (Chiaravalloti)/S-926 (Pennacchio), which permits municipalities to refund excess property taxes paid by a taxpayer who wins an assessment appeal as a tax credit. As written, the bill also applied to residential properties. The governor conditionally vetoed the bill to remove residential properties and to make the refund by way of property tax credits refundable only to nonresidential real property over a three-year period. This would apply to refunds exceeding $100,000. The NJSBA worked with the sponsors on amended language. The bill will take effect immediately upon the governor's signature.
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