Concerns local taxation of business personal property of local exchange telephone companies.

This bill clarifies New Jersey's tax rules for telecommunications companies that held regional landline monopolies before the 1996 Telecommunications Act. It specifies that these companies (or their successors) must pay business personal property taxes on their equipment located in municipalities, but only need to have met a 51% local access requirement as of April 1, 1997 - not annually. The bill also requires winning municipalities in tax disputes to be awarded attorney fees from the telecom company. This addresses ongoing legal costs for municipalities after a 2012 court case misinterpreted the 1997 tax law.