Evans, Caputo Argue for Roche Tax Relief Bill in Trenton

Nutley Commissioner Thomas Evans and Assemblyman Ralph Caputo testified in Trenton Friday before an Assembly Budget Committee Hearing in support of Assembly Bill A3807, the “Corporate Disinvestment Property Tax Relief Act."  

The bill would provide tax relief arising from the closure of Roche in the form of temporary increase in state aid. It was crafted by Assemblyman Ralph Caputo and Commissioner Evans.

Evans and Caputo began crafting the Bill shortly after Roche announced their departure in the summer of 2012. Evans, with the support of the Board of Commissioners, joined with State representatives to seek out expanded state aid for Nutley in response to this extraordinary event.

As a result of that effort, Legislation was prepared to provide temporary financial relief arising from the Roche closure for Nutley, Clifton and other municipalities that have a similar experience.

Under the bill, municipalities that face a catastrophic drop in their property tax base due to a major business closure or relocation would be eligible for special short–term property tax relief aid to help compensate for the loss of revenue and keep tax rates stable. The bill would appropriate $13.5 million in aid for this purpose.

“When a business like Roche announces they’re moving their U.S. headquarters out of state, the number of potential jobs lost gets all the attention,” said Caputo, a Nutley native.  “What gets overlooked is the serious financial, property tax impact such moves have on the towns that host these businesses.  That needs to change, and I am hopeful that this bill will be approved in both houses by July 1."

Commissioner Evans stated in his testimony: “This bill is important, because it not only provides both Nutley and Clifton with property tax relief, it provides the township the   time and ability to achieve a long term solution that makes sense for the Roche property.”

“I would like to thank Assemblyman Caputo for his willingness to help our township, and commend all the members of the Assembly and the Senate for their careful consideration of this very important Legislation," said Evans.

Commissioner Evans has also collaborated with Senator Nia Gill, District 34, who is sponsoring the Senate version of the bill. Senator Ronald Rice, District 28, and Senator Paul Sarlo, District 36 support the introduction of the bill.

Assemblyman Gary Schaer, District 36, also supports the bill. The assembly panel that co-sponsored the bill includes, Cleopatra Tucker, Connie Wagner, Tim Eustace and Ralph Caputo.

Once the bill is approved by both houses, it will be on the Governor’s desk for final approval.