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 current Energy Tax Receipts Property Tax Relief Aid program with a new Municipal Property Tax Relief Fund. The fund will be financed by taxes from energy utilities, telecommunications, and other sources, and distributed to all municipalities, ensuring no community receives less than it did in 2024 (or 2025 for those using a State fiscal year). Additional funds will be distributed based on population, median household income, property values, and other community factors. Municipalities can use excess funds to reduce local property tax levies. The bill also includes a provision to forgive certain corporate taxes if the state fails to appropriate funds as required.