Title
Dept/ Agency: Finance
Action: ( ) Ratifying (X) Authorizing ( ) Amending
Type of Service: Requesting approval to establish a Dedication by Rider Trust
Purpose: Dedicated Trust by Rider for the $3 per day surcharge on hotel occupancies in certain municipalities to fund fire services for the purpose to which said revenue is dedicated.
Additional Information:
P.L. 2025, c.158; N.J.S.A. 40:48E-7
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WHEREAS, permission is required of the Director of the Division of Local Government Services for approval to establish a Dedicated Trust by Rider of revenues received by a municipality when the revenue is not subject to reasonably accurate estimates in advance; and
WHEREAS, pursuant to N.J.S.A. 40:48E-7, the State of New Jersey has imposed a three-dollar-a-day surcharge on every hotel occupancy in certain municipalities to be collected and administered by the Director of the Division of Taxation within the Department of the Treasury; and
WHEREAS, N.J.S.A. 40:48E-7 requires that any and all revenue received by a municipality as a result of such surcharge be deposited in a dedicated fire services trust fund and used by the municipality solely and exclusively to fund appropriations in firefighting services; and
WHEREAS, N.J.S.A. 40A;4-39 provides that dedicated revenues anticipated from said fire services trust fund are hereby anticipated as revenue and are hereby appropriated for the purpose to which said revenue is dedicated by N.J.S.A. 40:48E-7.
NOW, THEREFORE, BE IT RESOLVED BY THE MUNICIPAL COUNCIL
OF THE CITY OF NEWARK, NEW JERSEY, THAT:
1. The Municipal Council of the City of Newark hereby requests the permission of the Director of the Division of Local Government Services to pay expenditures under the provisions of N.J.S.A. 40A:4-39 solely and exclusively for firefighting services permitted by N.J.S.A. 40:48E-7.
2. The dedicated revenue is hereby appropriated for...
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