On November 9, CCSNJ President and CEO Christina Renna testified before the Senate Budget and Appropriations Committee.
Ms. Renna testified in support of S-563 (Madden/Sweeney), which restricts authority to terminate reciprocal personal income tax agreements with other states. The CCSNJ was proud to be the leading business organization in the state to engage on this critical issue with the outstanding support of Senate President Steve Sweeney and Assembly Majority Leader Lou Greenwald in 2016. At that time, then-Governor Chris Christie announced his intent to dissolve the New Jersey/Pennsylvania Income Tax Reciprocity Agreement.
Given the unprecedented circumstances presented by the outbreak of the virus, should
there ever be a discussion about dissolving the agreement in the future, this legislation assures that the Legislature and most importantly, those impacted by the agreement – the taxpayers and businesses - have a voice in the process.
Ms. Renna also testified in support of SCR- 133 (Sarlo), which amends the State Constitution to permit sports wagering on New Jersey collegiate tournament, playoff, championship, or other postseason athletic competitions, as well as New Jersey teams that may be competing in these type of games.
As the state struggles to identify new forms of revenue that does not include increasing taxes, the broadening of New Jersey’s sports betting law is a natural option to explore – one that would open the doors to allow betting on colligate New Jersey teams in the playoffs and allow betting on playoff/tournament games that take place in the state. Both would be of high interest to those interested in placing wagers on their hometown teams, or games happening in their backyard, increasing the amount of sports betting spend as a result.
If you have any questions, please contact Hilary Chebra, Manager of Government Affairs at hchebra@chambersnj.com.
