LEGISLATIVE 2.9 PERCENT PROPERTY TAX CAP ADVANCES

sweeneyA key budget committee advanced Senate President Steve Sweeney’s legislative cap bill. The Senate and Budget Appropriations Committee had a vote across party lines. Gov. Chris Christie had been campaigning for lawmakers to pass a bill allowing for a referendum in November to let voters decide on a 2.5 percent cap that would be written into the constitution of the state. Sweeney’s bill is not as hard and fast as a constitutional cap would be and is similar in nature to the state’s current 4 percent cap bill. A full vote will be taken on the measure on Monday.

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