Bill
Bill > S2037
NJ S2037
NJ S2037Requires direct payment of homestead credit to claimant following sale of qualifying homestead and upon claimant request.
summary
Introduced
03/03/2022
03/03/2022
In Committee
03/03/2022
03/03/2022
Crossed Over
Passed
Dead
01/08/2024
01/08/2024
Introduced Session
2022-2023 Regular Session
Bill Summary
Requires direct payment of homestead credit to claimant following sale of qualifying homestead and upon claimant request.
AI Summary
This bill requires the director of the Division of Taxation to directly remit a homestead benefit to an eligible taxpayer by paper check, prepaid debit card, electronic direct deposit, or any other appropriate disbursement method, if the taxpayer sells the homestead for which they qualified for the homestead benefit and notifies the director at least 105 days prior to the payment of the homestead benefit. This change to the existing law allows taxpayers who have sold their qualifying homestead to receive the homestead benefit directly, rather than having it applied to their local property tax account.
Committee Categories
Budget and Finance
Sponsors (1)
Last Action
Introduced in the Senate, Referred to Senate Budget and Appropriations Committee (on 03/03/2022)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://www.njleg.state.nj.us/bill-search/2022/S2037 |
| BillText | https://www.njleg.state.nj.us/Bills/2022/S2500/2037_I1.HTM |
| Bill | https://www.njleg.state.nj.us/Bills/2022/S2500/2037_I1.PDF |
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