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A 5778

Exempts certain not-for-profit corporations from the real estate transfer tax if such conveyance is for the purpose of providing food for free to persons experiencing food insecurity

2025 Regular Session Introduced by Jodi Giglio

Bill A 5778 exempts not-for-profit organizations from real estate transfer tax when conveying property to provide free food, boosting efforts to combat food insecurity.

REFERRED TO WAYS AND MEANS
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WeVote Research Nonpartisan
Bill Summary · A 5778

Summary of Bill A 5778

Bill Information

  • Bill Number: A 5778
  • Title: Exempts certain not-for-profit corporations from the real estate transfer tax if such conveyance is for the purpose of providing food for free to persons experiencing food insecurity
  • Status: Referred to Ways and Means
  • Introduced: February 20, 2025
  • Classification: Bill

Purpose and Intent

Bill A 5778 aims to alleviate food insecurity by providing a financial incentive for not-for-profit organizations that engage in the conveyance of real estate for the purpose of distributing food at no cost to individuals in need. The bill seeks to encourage more not-for-profit corporations to participate in efforts to combat hunger by exempting them from the real estate transfer tax during such transactions.

Key Provisions

  • Tax Exemption: The bill proposes to exempt certain not-for-profit corporations from the real estate transfer tax when they convey property specifically for the purpose of providing free food to individuals experiencing food insecurity.
  • Eligibility Criteria: The exemption would apply only to not-for-profit organizations that meet specific criteria, which may include being registered as a 501(c)(3) organization and demonstrating a commitment to addressing food insecurity.

Impact

  • Beneficiaries: The primary beneficiaries of this bill would be not-for-profit corporations that focus on food distribution and individuals experiencing food insecurity. By reducing the financial burden associated with property transactions, these organizations may be able to allocate more resources toward their food programs.
  • Community Effect: The bill is expected to enhance community efforts to combat hunger by facilitating the establishment and expansion of food distribution sites, thereby improving access to free food for vulnerable populations.

Procedural Aspects

  • Current Status: As of February 20, 2025, the bill has been referred to the Ways and Means Committee for further consideration. This committee will review the bill and may make recommendations or amendments before it proceeds to the next stages of the legislative process.

Related Legislation

  • A 7937: A prior-session bill that may have similar objectives or provisions.
  • A 3072: Another prior-session bill that could be related in context or intent.
  • S 389: A companion bill in the Senate that addresses similar issues regarding food insecurity and not-for-profit corporations.

This summary provides an overview of Bill A 5778, highlighting its purpose, key provisions, potential impact, and current legislative status. The bill represents a proactive approach to addressing food insecurity through financial incentives for not-for-profit organizations.

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

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