New Jersey Assembly Bill ACR92

New Jersey 2026-2027 Regular Session

• Introduced: 1/13/26
• Refer: 1/13/26

Caption

Proposes constitutional amendment to dedicate tax revenue from sale of recreational marijuana for property tax relief.

Impact

If enacted, ACR92 would establish a consistent funding stream for property tax credits, which could alleviate financial burdens for residents, particularly in areas experiencing rising property tax assessments. The measure aims to ensure that the benefits derived from recreational marijuana sales are directly returned to the community by providing tangible financial relief to homeowners through property tax credits. The amount of the credit is proposed to be uniform for all qualifying homeowners, which could simplify the administration of the relief program.

Summary

Assembly Concurrent Resolution No. 92 (ACR92) proposes an amendment to the New Jersey Constitution to dedicate tax revenue collected from the sale of recreational marijuana for property tax relief. The bill seeks to create a special account within the Property Tax Relief Fund known as the Recreational Marijuana Sales Tax Account. The revenue accrued from the sales tax on recreational marijuana would be directed into this account and used exclusively to provide property tax credits for homeowners who live in their primary residences and pay property taxes annually.

Contention

Despite its potential benefits, ACR92 could face opposition from various groups. Some lawmakers and constituents may express concerns about the implications of using marijuana tax revenue for property tax relief, questioning whether this approach effectively addresses the state’s broader fiscal issues. Additionally, debates may arise regarding the philosophical implications of using a potentially contentious and regulated substance like marijuana as a source of revenue. Ultimately, the passage of this amendment will rest on voter approval in a future election, further highlighting its contentious nature.