A 5333 New Jersey General Assembly · 2024-2025 Regular Session

Requires State appropriations for Stay NJ and homestead property tax reimbursement programs and requires annual reporting of Stay NJ program data; establishes Property Tax Relief Program Oversight Committee.

This bill requires New Jersey to fully fund two property tax relief programs - Stay NJ (which provides credits for homeowners and renters) and homestead property tax reimbursements - by appropriating additional state funds from the Property Tax Relief Fund if current funding falls short. It establishes a five-member Property Tax Relief Program Oversight Committee within the Department of the Treasury to monitor these programs, issue annual reports on their effectiveness, and recommend improvements. The bill mandates annual public reporting on program participation, including data by age, income, and eligibility status, and requires the state to include Stay NJ benefit distribution data in publicly accessible property tax summaries. These changes directly affect homeowners and renters eligible for tax relief under these programs, ensuring consistent funding and transparency in how relief is distributed.
Bill status in committee 1 of 4 stages cleared
Introduction
Feb 2025
Committee Review
Floor Vote
Governor
Introduced Feb 20, 2025 Last action Feb 20, 2025
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Feb 20, 2025
Introduced
Introduced in the Assembly, Referred to Assembly State and Local Government Committee
lower
1 primary · 0 co-sponsors

Sponsors

Role
Legislator
Party
State
District
P
Photo of Heather Simmons
Heather Simmons
DDemocratic
NJ
3