Requires State reimbursement to local government units for first-year uncollected property tax revenue attributable to veterans' property tax exemptions.

This bill requires the State of New Jersey to reimburse local governments - such as municipalities, counties, school districts, and fire districts - for property tax revenue they lose in the first year when a veteran (or eligible surviving spouse) is approved for a 100% service-connected disability property tax exemption. It directly affects veterans with qualifying disabilities (like paraplegia, total blindness, or amputations) and their surviving spouses, who currently qualify for property tax exemptions under existing law. The key mechanism mandates that tax collectors submit documentation - including exemption approval details and uncollected tax amounts - to the state within 10 days of approval, after which the State Treasurer must reimburse local governments within 10 days of the next quarterly tax bill’s due date. This ensures local units are financially compensated for the first year of lost revenue when exemptions take effect.