NJ A567

Bill

NJ A567

Caps interest rate for redemption of tax lien at nine percent per year.

Introduced
01/11/2022

In Committee
01/11/2022

Crossed Over

Passed

Dead
01/08/2024

Introduced Session

2022-2023 Regular Session

Bill Summary

This bill would cap the interest rate for the redemption of a tax lien to nine percent per year. Current law caps that interest rate at 18 percent per year.

AI Summary

This bill would cap the interest rate for the redemption of a tax lien at nine percent per year, down from the current cap of 18 percent per year. This change aims to reduce the interest burden on individuals or entities looking to redeem a tax lien on a property.

Committee Categories

Government Affairs

Sponsors (2)

Robert Karabinchak (D)*, Sterley Stanley (D)*,

Last Action

Introduced, Referred to Assembly State and Local Government Committee (on 01/11/2022)

Official Document

https://www.njleg.state.nj.us/bill-search/2022/A567

(3 Companion Bills)

Version:

Document Type	Source Location
State Bill Page	https://www.njleg.state.nj.us/bill-search/2022/A567
BillText	https://www.njleg.state.nj.us/Bills/2022/A1000/567_I1.HTM
Bill	https://www.njleg.state.nj.us/Bills/2022/A1000/567_I1.PDF

Bill	Bill Name	Last Action	Type
A4222	Caps interest rate for redemption of tax liens at nine percent per year.	Introduced, Referred to Assembly State and Local Government Committee	Carry Over
S2472	Caps interest rate for redemption of tax liens at nine percent per year.	Senate Community and Urban Affairs Hearing (10:00 5/28/2020 Register to Testify)	Carry Over
S979	Caps interest rate for redemption of tax lien at 9 percent per year.	Introduced in the Senate, Referred to Senate Community and Urban Affairs Committee	Same As

Bill > A567

summary

Introduced Session

Bill Summary

AI Summary

Committee Categories

Sponsors (2)

Last Action

Official Document

bill text

bill summary

bill summary

bill summary