Monday, January 13, 2020
NJ Laws Passed Today
-Vaccine Bill to eliminate religious exemption falls short and was not voted on. Lawmakers vow to vote on it next legislative session. Three Lakewood Roshei yeshiva and poskim wrote a letter to lawmakers to vote against the bill.
-NJ governor Phil Murphy on Monday blocked a bill by Sweeny that would have allowed dozens of New Jersey school districts including Lakewood to raise more school property taxes to compensate for state funding cuts. Sweeney’s bill would allow some of those districts to exceed the 2-percent cap on property tax.
-New Jersey lawmakers Monday gave final approval to a bill banning certain flavored e-cigarettes and vaping products in the midst of a national health crisis. The measure is up for a vote in the state Assembly and must go to Gov. Phil Murphy, who has until Jan. 21 to sign or veto it.
-The state Assembly passed a bill that would shield the identity of lottery winners, lucky scratch off ticket holders. Under the bill, the winner’s identity would be kept secret. Gov Murphy has to sign or veto by January 21.
-New Jersey landlords cannot require their tenants pay rent by electronic means, such as a credit card or account withdrawal, under a new bill Gov. Phil Murphy signed into law Monday.
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None of you understand what just happened. We just dodge a huge tax increase. The local fair share in Lakewood is $123,904,450 whereas we are only contributing $104,697,339 locally. So that is almost $20 million less.
ReplyDeleteAdequacy as defined in Lakewood is $125,908,648. Under the SFRA, we should only get $2 million in equalization aid. The state is going to phase us out from the $15 million equalization aid we have been getting to $2 million (really less because by then our local fair share will be above adequacy) over the next few years, which is where we should be based on the formula. So this law would have allowed a $20 million tax increase to make up for the difference in loss of state aid up to $20 million should the formula run.
Aaron Lang
Can you explain this again? What is "Fair share" and "adequacy" and "equalization"> i though that the formula was flawed so we just dont get enough to cover the costs, but what are these terms?
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