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Bill

A 4007

Authorizes the Congregation Khal Mevakshei Hashem, Inc. to receive retroactive real property tax exempt status

2025 Regular Session Introduced by Ari Brown

Bill A 4007 grants retroactive property tax exemption to Congregation Khal Mevakshei Hashem, Inc., easing its financial burden and impacting local tax revenue.

SUBSTITUTED BY S8263A
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Bill Summary · A 4007

Summary of Bill A 4007

Bill Number: A 4007
Title: Authorizes the Congregation Khal Mevakshei Hashem, Inc. to receive retroactive real property tax exempt status
Status: Referred to Real Property Taxation
Introduced: January 30, 2025
Classification: Bill

Purpose and Intent

Bill A 4007 aims to grant retroactive real property tax exempt status to the Congregation Khal Mevakshei Hashem, Inc. This legislation seeks to alleviate the financial burden of property taxes on the congregation, recognizing its status as a religious organization and its contributions to the community.

Key Provisions

  • Retroactive Tax Exemption: The bill specifically authorizes the congregation to receive a tax exemption that is retroactive, meaning it would apply to previous tax years, potentially resulting in significant financial relief.
  • Eligibility Criteria: The bill implies that the congregation meets the necessary criteria for tax-exempt status under applicable laws, although specific eligibility details are not outlined in the summary provided.

Affected Parties

  • Congregation Khal Mevakshei Hashem, Inc.: The primary beneficiary of this bill, the congregation would be relieved from paying property taxes for the specified period.
  • Local Government: The local government or municipality that collects property taxes may experience a reduction in tax revenue as a result of this exemption.

Procedural Aspects

  • Legislative Process: As of January 30, 2025, the bill has been referred to the Real Property Taxation Committee for further consideration. This step is crucial for the bill's advancement through the legislative process.
  • Companion Bill: There is a related bill, S 8263, which serves as a companion to A 4007, indicating that similar legislation is being considered in the Senate.

Conclusion

Bill A 4007 represents an effort to support the Congregation Khal Mevakshei Hashem, Inc. by providing retroactive real property tax exemption. The bill is currently in the legislative process and awaits further discussion and potential approval by the Real Property Taxation Committee. If passed, it could have significant financial implications for both the congregation and the local government.

Compiled from official sources — confirm details with the bill’s official record.

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