Sponsored by:
Senator STEVEN V. OROHO
District 24 (Morris, Sussex and Warren)
Senator PAUL A. SARLO
District 36 (Bergen and Passaic)
Co-Sponsored by:
Senator A.R.Bucco
SYNOPSIS
Provides for voluntary contributions by taxpayers on gross income tax returns for development of Northern New Jersey Veterans Memorial Cemetery.
CURRENT VERSION OF TEXT
As introduced.
An Act concerning voluntary contributions through gross income tax returns for development of the Northern New Jersey Veterans Memorial Cemetery, 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 "Northern New Jersey Veterans Memorial Cemetery Development 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 special fund.
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 "Northern New Jersey Veterans Memorial Cemetery Development Fund."
d. The Legislature shall annually appropriate all funds deposited in the "Northern New Jersey Veterans Memorial Cemetery Development Fund" established pursuant to this section to the Department of Military and Veterans’ Affairs for the purposes of facilitating the development and operation of the Northern New Jersey Veterans Memorial Cemetery.
2. This act shall take effect immediately and apply to taxable years beginning after enactment.
STATEMENT
This bill establishes the "Northern New Jersey Veterans memorial Cemetery Development Fund" and provides for a designation on the State gross income tax return that will permit taxpayers to make voluntary contributions to the fund.
This fund will facilitate the development and operation of the Northern New Jersey Veterans Memorial Cemetery.