16 Mar: Senate Approves Bill To Provide Recession Cushion For Local Govts

TRENTON – The full Senate today approved a bill sponsored by Senate President Richard J. Codey (D-Essex) that would give local governments a temporary cushion to help avert a tax hike during the current economic crisis.

“Since this bill was first introduced in December, revenue estimates have become even more grim,” said Sen. Codey. “This bill will help provide immediate assistance to towns and counties faced with the sudden devastating loss of revenue. Our ultimate goal is to help protect the taxpayer by providing local governments with an additional option to help avoid massive tax hikes.”