Extends eligibility for property tax benefits to veterans, 100 percent service-disabled veterans, and senior citizens and persons with disabilities who pay payments in lieu of property taxes.

This bill would extend New Jersey's property tax benefits for veterans with 100% service-connected disabilities, senior citizens, and persons with disabilities to those who pay "payments in lieu of property taxes" instead of direct property taxes. Currently, these tax benefits apply only to residents who pay direct property taxes, but this bill would extend them to people living in properties covered by the "Long Term Tax Exemption Law" (P.L.1991, c.431). The bill amends several sections of state law to make this change, but it would not take effect until New Jersey voters approve a constitutional amendment authorizing these benefits. This change would affect veterans, seniors, and disabled residents living in properties where alternative tax payments are required under municipal contracts.