Eliminates Energy Tax Receipts Property Tax Relief Aid and Consolidated Municipal Property Tax Relief Aid; establishes Municipal Property Tax Relief Fund.

This bill replaces New Jersey's Energy Tax Receipts Property Tax Relief Aid program with a new Municipal Property Tax Relief Fund. The fund will receive annual revenue from energy/utility sales and corporate taxes, with an initial allocation of $1.455 billion for fiscal year 2026 (adjusted for inflation). It guarantees each municipality receives at least the same amount they received in 2024/2025, with additional funds distributed using a formula based on population, income, property values, and other factors. Any excess funds beyond the minimum guarantee must be used to reduce local property tax levies, and the bill includes provisions to ensure the State makes required payments.