On behalf of our members that make NJBIA the largest, most impactful association representing job creators in New Jersey, we support S-3917 (Gopal) with anticipated committee amendments to remove the language with costly tax implications. We thank Chairman Gopal for his leadership on this issue and for introducing legislation to address the juggernaut that is New Jersey’s school funding model.
Affordability Is Crucial
NJBIA supports investments in school funding, as the K-12 system is part of our state’s economic and workforce development pipeline, shaping the next generation of employees, entrepreneurs and job creators. Equally, as an association representing our state’s job creators and a significant percentage of its taxpayers, we remain concerned about any funding model that overburdens taxpayers.
We thank Chairman Gopal for introducing amendments to remove sections 2 and 3 of the bill, which included language that sought to alter the current tax levy model.
The state must be more intentional about addressing one of the key cost drivers that contributes to unaffordability in our state—property taxes. Until assessment and reforms are made, the 2% tax cap must remain in place to safeguard against excessive tax increases, even for the most laudable of causes.
We thank Chairman Gopal for the bill’s proposal to engage stakeholders to review the feasibility of multiyear averages to calculate local fair share, methods to improve preschool funding, and adjustments to deadlines concerning the school budget process. Again, we support the bill as amended to remove the language with costly tax implications and to establish a Special Education Funding Review Task Force.
Should you have any questions about our position on this or any other legislation, please feel free to contact me at aford@njbia.org.
