CONSTITUTIONAL AMENDMENT TO EXPAND USES OF DEDICATED TAX REVENUE TO FUND HAZARDOUS DISCHARGE CLEANUPS
Shall the amendment to Article VIII, Section II, paragraph 6 of the Constitution of the State of New Jersey, expanding the authorized uses of the constitutionally dedicated Corporation Business Tax revenue, to include funding the costs of the remediation of hazardous discharges, and funding the costs of a State underground storage tank inspection program, be approved?

Interpretive Statement
Approval of this constitutional amendment would expand the authorized uses of the constitutionally dedicated portion of the Corporation Business Tax revenues to allow funding, including the provision of loans or grants, for the costs of remediation of discharges of hazardous substances. Since 1996, 4% of the annual revenue from the Corporation Business Tax has been constitutionally dedicated, with a minimum of one-half allocated for hazardous discharge cleanup performed by the State, a minimum of one sixth or a minimum of $5 million allocated for water quality projects and, until December 31, 2008, a minimum of one third allocated for funding loans or grants for underground storage tank upgrades, replacements, closures and remediations. This constitutional amendment would, without increasing taxes, expand the authorized uses of the one third dedicated to underground storage tank projects, to allow that portion to be used also for funding loans or grants to remediate haza

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CONSTITUTIONAL AMENDMENT TO EXPAND USES OF DEDICATED TAX REVENUE TO FUND HAZARDOUS DISCHARGE CLEANUPS
Shall the amendment to Article VIII, Section II, paragraph 6 of the Constitution of the State of New Jersey, expanding the authorized uses of the constitutionally dedicated Corporation Business Tax revenue, to include funding the costs of the remediation of hazardous discharges, and funding the costs of a State underground storage tank inspection program, be approved?

Interpretive Statement
Approval of this constitutional amendment would expand the authorized uses of the constitutionally dedicated portion of the Corporation Business Tax revenues to allow funding, including the provision of loans or grants, for the costs of remediation of discharges of hazardous substances. Since 1996, 4% of the annual revenue from the Corporation Business Tax has been constitutionally dedicated, with a minimum of one-half allocated for hazardous discharge cleanup performed by the State, a minimum of one sixth or a minimum of $5 million allocated for water quality projects and, until December 31, 2008, a minimum of one third allocated for funding loans or grants for underground storage tank upgrades, replacements, closures and remediations. This constitutional amendment would, without increasing taxes, expand the authorized uses of the one third dedicated to underground storage tank projects, to allow that portion to be used also for funding loans or grants to remediate hazardous substance discharges, and for the use of up to $2 million per year for an underground storage tank inspection program, and, by removing the December 31, 2008 expiration date, would continue its allocation for those purposes.

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