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Phil Murphy. Spearheaded by Assembly Speaker Craig Coughlin, the initiative, called StayNJ, will provide tax credits worth 50% of property tax bills?up to $6,500?for incomes up to $500,000 for homeowners ages 65 and older. The catch: The benefits won't go into effect until January 2026.
The plan, called StayNJ, aims to cut property taxes in half for most of the state's seniors, but it will not take effect until 2026, leaving critics to question if the payouts will ever actually happen. State of Affairs host Steve Adubato joins MetroFocus to discuss the issue.
The State Agreement Approach enables a state or group of states to propose a state-initiated project that could potentially realize state public policy requirements as long as the state (or states) agrees to pay all costs of the state-selected buildout included in the Regional Transmission Expansion Plan (RTEP).
The Offshore Wind Strategic Plan is a critical blueprint that will guide us toward our goal of 7,500 megawatts of offshore wind power by 2035 and help us achieve 100 percent clean energy by 2050.? ?Offshore wind represents a once-in-a-generation opportunity for New Jersey.
?The State Agreement Approach is a proven tool that states can use to advance their policy initiatives, leveraging PJM's planning expertise and competitive processes to drive down costs for New Jersey ratepayers. We believe it can serve as a blueprint for other states to advance their own policies.?
In total, offshore wind is estimated to produce enough energy to power 1.65 million homes per year, nearly half of all the households in New Jersey. With offshore wind, we can use our homegrown energy to power our future.
RELEASE: Gottheimer-backed ?Stay in Jersey? Legislation Passes NJ General Assembly to Attract Businesses and Families to New Jersey.
TRENTON ? Governor Phil Murphy signed the Fiscal Year 2024 Appropriations Act into Law on Friday, building on the historic progress made over the last five years with new investments centered around increasing affordability, promoting fiscal responsibility, and creating world-class opportunities for everyone to succeed ...
The proposed FY2024 budget also continues the historic ANCHOR property tax relief program, proposing another $2 billion in direct relief to homeowners and renters.