Trenton, NJ - The state Senate voted 33-1 late today to concur with Governor Chris Christie's conditional veto of a bill to extend the 2 percent cap on arbitration awards - the landmark, bipartisan reform first approved overwhelmingly by the legislature in 2010 which is scheduled to sunset on April 1. The bill would extend the cap through the end of Governor Christie's second term in office and maintain this important tool to complement the state's 2 percent cap on property taxes, which together have resulted in the slowest rate of property tax growth in 25 years.
"Without question, the reforms to New Jersey's arbitration system enacted in 2010 have been effective in controlling spending and helping municipalities limit property tax increases," Governor Christie said in his conditional veto message. "Extending the successful and essential control on arbitration awards enacted in 2010 is therefore the sensible and logical course."
The Governor's CV is attached.
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