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

This bill (A 1262) requires the State of New Jersey to reimburse local governments (municipalities, counties, school districts, and fire districts) for property taxes they cannot collect during the **first year** a veteran qualifies for a 100% service-connected disability property tax exemption. It directly affects veterans who meet specific disability criteria (like paraplegia, blindness, or amputation) and the local governments that lose tax revenue when these exemptions take effect. The key mechanism mandates that tax collectors submit documentation to the State Treasurer within 10 days of exemption approval, and the State must reimburse local entities within 10 days of each quarterly tax bill due date. This policy change ensures local governments are financially compensated for the initial tax loss, not subsequent years.