Requires municipal tax collectors who obtain payments in lieu of taxes under "Long Term Tax Exemption Law" to transmit county portion directly to county.

This bill (S 3787) changes how 5% of annual service charges from urban renewal entities is transmitted to counties under New Jersey's Long Term Tax Exemption Law. It requires municipal tax collectors, not municipalities, to directly send this amount to county chief financial officers within seven days of receiving the payments. These annual service charges are payments in lieu of taxes for tax-exempt development projects. The bill affects municipalities, urban renewal entities, and counties involved in long-term tax exemption agreements.