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TRENTON – The Senate today unanimously passed bipartisan compromise legislation championed by Senate President Stephen M. Sweeney to overhaul the method by which towns and public safety unions have their cases decided by arbitration, reforming the process to make it fair.

“Reforming the arbitration system is essential if communities are going to be able to live under the property tax cap,” said Sweeney (D-Gloucester/Cumberland/Salem). “For too long, the system has been tilted in favor of the public unions and arbitrators have enjoyed too free a hand in crafting contracts that did not even have to consider a town’s ability to pay. This compromise legislation will ensure that taxpayers are protected and that workers are treated fairly. It’s a revolutionary change for arbitration in general, and especially for New Jersey.”

(TRENTON) – Senate President Stephen M. Sweeney and Assembly Speaker Sheila Y. Oliver on Thursday unveiled new property tax reform legislation that would revise the state’s arbitration system by requiring the emphasis be placed on protecting taxpayers.

In announcing the legislation, the Democratic legislative leaders noted the overhaul is necessary and overdue to put the system back in balance.

“Rare, outlandish arbitrator awards that have caused property taxes to spike in some communities do stand out and have made a strong case for reform,” said Sweeney (D-Gloucester/Cumberland/Salem). “This reform will return much needed balance to a system that desperately needs it. When I stood with the Governor in July, I said the Senate would give local officials this vital tool, and here we are.”