NJ Thanks Sponsors of Disaster Tax Relief

43 Groups Sign Letter Thanking
Menendez, Booker, Schumer and Others

Senator Robert MenendezOn April, 9, 2014, as original co-sponsors, U.S. Senators Robert Menendez and Charles Schumer introduced S-2233, The National Disaster Tax Relief Act, in order to provide additional assistance to families and businesses struggling to rebuild in the wake of Hurricane Sandy. Senator Cory Booker is a co-sponsor.

Forty-three (43) New Jersey organizations signed on to the letter currently circulating and they make up a significant amount of the total signers from across the country.

In addition to providing tax relief for the communities impacted by Hurricane Sandy, this bill would also provide relief to all of the communities impacted by federally declared disasters in 2012 and 2013, as well as Hurricane Irene and Tropical Storm Lee from 2011.

The Sandy Tax Relief Act would provide an additional Housing Credit allocation for each affected state, calculated as to $8 per person in the qualifying disaster area or 50% of the state Housing Credit ceiling. Impacted communities would also be eligible to apply for an additional NMTC allocation of $500 million.

Click here for the S. 2233 bill summary and here for the bill text.

Click here to view the list of NJ signers.

Click here for the full letter.