Governor Jon Corzine, Senate President Richard Codey, and Assembly Speaker Joseph Roberts on January 3 agreed to key elements of property tax reform, according to several published reports. Under the agreement, property tax credits for certain households would be linked to legislation capping annual property tax increases. Legislative leaders also agreed to Governor Corzine’s plan for a State comptroller to investigate local and State government spending. The three leaders also agreed on legislation to deny pensions to public employees convicted of corruption.

The Legislature first proposed a 20 percent direct tax credit after four joint legislative committees studying property tax reform issued their recommendations. Corzine asserted that he would support the credit only if future property tax increases were capped at 4 percent and a State comptroller position created. Under the reported agreement, households with incomes of up to $100,000 per year would receive a direct property tax credit of 20 percent of their property tax bill, while those with household incomes between $100,001 and $150,000 would get 15 percent and those with $150,001 to $250,000, 10 percent. Meanwhile, property tax increases would be capped at 4 percent per year, nearly half the 7 percent per year they have been increasing in recent years.

These leaders hope the agreement clears the way for quick passage of comprehensive property tax reform legislation. So far the Assembly has approved legislation creating a commission to recommend consolidation and shared services for municipalities, creating a pilot program for county administrative school districts, making schools more accountable for their spending, and changing State law to make it easier for local governments to consolidate and share services. The Senate is scheduled to take up the school pilot program and school accountability measures on January 8. For more information, contact Christopher Emigholz at ext. 201.

Visit Property Tax Facts for periodic updates on the progress of property tax reform in New Jersey.

NJBIA Urges "No" Vote on Business Closing Notification Bill—NJBIA is urging its members to contact their Assembly representatives and urge them to vote "no" on A-1044 (Van Drew, Johnson), which would require employers with 100 or more employees to provide 90 days public notice before closing a business or transferring business operations. The full Assembly is scheduled to vote on the measure on Monday, January 8. NJBIA has distributed a Membership Alert to affected employers, urging them to contact their Assembly representatives and Assembly Speaker Joseph Roberts before Monday’s vote.

NJBIA opposes this bill because it would go far beyond the requirements of federal law or business-closing laws in any other state. The bill would require employers who miss the notice requirement by even a single day to pay all employees entitled to the notice the equivalent of one week’s wages for each year of employment. This could cost an employer hundreds of thousands of dollars at a time when the business is struggling to remain solvent. For more information, contact John Rogers at ext. 209.

Truckers, Port Workers Must Undergo Background Check, Get Expensive New Identification—Beginning in March, truck drivers, port employees, mariners and anyone else who needs unescorted access to port facilities will be required to undergo a background check and obtain a new identification card from the US Transportation Security Administration (TSA). Workers will be notified of when and where to apply prior to the start of the enrollment period in their given area, after which the US Department of Homeland Security will publish a deadline by which all port workers will be required to present the new identification.

Known as the Transportation Workers Identification Credential (TWIC) program, the initiative is part of the overall enhancement of port security undertaken by the federal government after the 9-11 terrorist attacks. Applicants will undergo a comprehensive background check that looks at criminal history records, terrorist watch lists, immigration status, and outstanding warrants. TSA typically completes a background check in fewer than ten days, provided no adverse information is disclosed. ID cards will cost between $139 and $159 each and be valid for five years. Workers with current, comparable background checks, such as those conducted for a HAZMAT endorsement to a commercial driver’s license, will pay a discounted fee of $107 to $127. For more information, visit the TSA Web site.

Gormley, Corodemus Will Not Seek Re-election—Two veteran legislators, State Senator William Gormley of Atlantic County and Assemblyman Steve Corodemus of Monmouth County, will not seek reelection in 2007. Both Republicans cited their long tenures in the Legislature and their many accomplishments as reasons for their decisions to step aside.

Gormley has served Atlantic County's 2nd Legislative District for 31 years and is past chairman of the Senate Judiciary Committee. Assemblyman Frank Blee and Egg Harbor Township Mayor Sonny McCullough, both Republicans, have already indicated interest in running for his seat. No Democrats have declared their candidacy as yet, but potential candidates mentioned in public reports include Assemblyman James Whelan and Atlantic County Sheriff James McGettigan. Corodemus, meanwhile, will leave office after 16 years of service to devote more time to his family and his law practice.

New Good Neighbor Call for Nominations, Deadline February 5—The 47th Annual New Good Neighbor Awards competition recognizes companies that have worked to bring about an improved business climate in New Jersey by building or renovating a commercial facility. Winners will be chosen based on economic benefit and job creation, architectural merit, and community involvement. The nominating deadline is February 5. Go here for more information.

Raise Your Visibility. Become an Event Sponsor—The Awards for Excellence Dinner. NJBIA's Public Policy Forum. First-rate events like these offer your company an excellent opportunity to reach their target audiences and heighten their visibility as an event sponsor. You can learn more about becoming an NJBIA sponsor online or contact Sherry Esteves at 609-393-7707, ext. 219.