Sponsored by:
Assemblywoman DIANNE C. GOVE
District 9 (Atlantic, Burlington and Ocean)
Assemblyman BRIAN E. RUMPF
District 9 (Atlantic, Burlington and Ocean)
Assemblywoman VALERIE VAINIERI HUTTLE
District 37 (Bergen)
Co-Sponsored by:
Assemblyman McClellan
SYNOPSIS
Provides for voluntary contributions by taxpayers on gross income tax returns to support historic preservation.
CURRENT VERSION OF TEXT
As introduced.
An Act concerning voluntary contributions through gross income tax returns to support historic preservation, 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 “New Jersey Historic Preservation Fund.”
b. A 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 “New Jersey Historic Preservation 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 section, 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 “New Jersey Historic Preservation Fund.”
d. The Legislature shall annually appropriate all monies deposited in the “New Jersey Historic Preservation Fund” established pursuant to this section to the New Jersey Historic Trust, in but not of, the Department of Community Affairs, for the purpose of awarding grants to State agencies, local government units, and qualifying tax-exempt nonprofit organizations to meet costs related to the physical preservation of, development of interpretive and educational programming for, or operation of New Jersey’s historic resources. Approval of any grants shall be made by the New Jersey Historic Trust pursuant to its guidelines.
2. This act shall take effect immediately and apply to taxable years commencing on or after January 1 next following the date of enactment.
STATEMENT
This bill establishes the “New Jersey Historic Preservation 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 support historic preservation throughout the State.
Specifically, all monies deposited in the fund would be appropriated to the New Jersey Historic Trust, an affiliate of the Department of Community Affairs for grants to State agencies, local government units, and non-profit organizations for the physical preservation of historic resources, the development of interpretive and educational programming for, or operation of, historic resources in accordance with New Jersey Historic Trust guidelines.
Established in 1967, the New Jersey Historic Trust is the only nonprofit historic preservation organization in New Jersey created by statute. The Trust officially reorganized in, but not of, the Department of Community Affairs in November 2002. Its mission is to advance historic preservation in New Jersey for the benefit of future generations through education, stewardship, and financial investment programs that save New Jersey heritage and strengthen the State’s communities.