Five NJBIA-backed bills were OK’d by different Senate and Assembly Committees on Monday. The measures would revise New Jersey Corporate Governance laws, help students find a more affordable path to college, ban third-party tax appeals, and add transparency to Board of Public Utilities proceedings.
Here are the details.
Ban on Third-Party Tax Appeals, S-2212 (Singer)
Released Feb. 27 by Senate Community and Urban Affairs Committee
NJBIA Position: support
This measure would prevent property taxpayers from challenging the tax assessments of nonprofit organizations like charities, hospitals, and educational institutions. These organizations operate on very thin margins, and third-party appeals can be costly and create economic uncertainty. The bill does not prevent municipalities from challenging tax assessments in their jurisdictions, nor would it prevent property owners for appealing assessments for their own properties. The bill now heads to the full Assembly.
Revisions to Corporate Governance Laws, A-2970 (Diegnan, Pinkin)
Released Feb. 27 by the Assembly Financial Institutions and Insurance Committee
NJBIA Position: support
The bill would make New Jersey more attractive to businesses by revising provisions of the Business Corporation Act governing derivative proceedings and shareholder class-action suits. The measure is part of a package of bills—some already enacted into law—that were based on the recommendations of the New Jersey Corporate and Business Law Study Commission. The bill now heads to the full Assembly.
BPU Decisions Transparency, A-1626 (Rodriguez-Gregg, Howarth) and A-4511 (DeAngelo)
Both bills released Feb. 27 by the Assembly Telecommunications and Utilities Committee
NJBIA Position: support
These two measures would make the decision-making process of the Board of Public Utilities (BPU) more transparent by requiring the BPU to broadcast its public meetings live on its website and provide written analysis of some of its rate decisions. The bills will help the public understand how costs are determined and rates are set. The bills are now before the full Assembly.
College Affordability, S-990 (Cunningham, Sweeney)
Released Feb. 27 by Senate Budget and Appropriations Committee
NJBIA position: support
This legislation would strengthen the state’s workforce pipeline by requiring that students be counseled about dual enrollment opportunities allowing them to earn college credits while still in high school, thereby reducing the time and cost of obtaining a college degree. The counseling could create more affordable pathways for New Jersey students to earn a college degree. The bill is now before the full Senate.
