Increases distribution to municipalities from Energy Tax Receipts Property Tax Relief Fund over two years; prohibits anticipation of certain revenue in municipal budget; requires additional aid be subtracted from municipal property tax levy.

This bill increases financial aid to New Jersey municipalities from the Energy Tax Receipts Property Tax Relief Fund over two years, restoring approximately $331 million in reduced aid payments that municipalities received during fiscal years 2009-2011. In fiscal year 2023, municipalities will receive 50% of the difference between their 2008 and 2012 aid distributions, with full restoration beginning in 2024. Municipalities must subtract any additional aid received from their property tax levy calculations and cannot anticipate this aid when creating annual budgets. The bill requires municipalities to amend their budgets to properly reflect the total aid amount, ensuring the aid directly reduces the amount they need to raise through property taxes.