The Senate Community & Urban Affairs Committee amended and released S-3787, which requires the tax collector who obtains payment in lieu of taxes (PILOT) under “Long Term Tax Exemption Law” to transmit the county portion directly to county. The bill awaits consideration by the full Senate.
As amended, the bill requires the tax collector or chief financial officer to transmit to the county’s chief financial officer a PILOT agreement’s 5% annual service charge within seven days of receipt. The tax collector must immediately notify the municipal and county chief financial officer of receipt of the annual service charge.
In addition, the bill requires the municipality to notify the county chief financial officer and clerk to the board of county commissioners of the date, time, and place of the public hearing for the second reading of the ordinance approving a PILOT financial agreement.
At this time there is no Assembly companion.
Contact: Lori Buckelew, Deputy Executive Director & Director of Government Affairs, lbuckelew@njlm.org, 609-695-3481, x112.