Bill
Bill > A1
NJ A1
NJ A1Establishes Stay NJ property tax credit program; establishes Stay NJ Task Force; expands income limit and modifies ownership requirement for eligibility to receive homestead property tax reimbursement; enhances ANCHOR benefits for seniors; and makes appropriations.
summary
Introduced
05/25/2023
05/25/2023
In Committee
06/28/2023
06/28/2023
Crossed Over
06/30/2023
06/30/2023
Passed
06/30/2023
06/30/2023
Dead
Signed/Enacted/Adopted
06/30/2023
06/30/2023
Introduced Session
2022-2023 Regular Session
Bill Summary
Establishes Stay NJ property tax credit program; establishes Stay NJ Task Force; expands income limit and modifies ownership requirement for eligibility to receive homestead property tax reimbursement; enhances ANCHOR benefits for seniors; and makes appropriations.
AI Summary
This bill:
Establishes the "Stay NJ" property tax credit program, which provides eligible residents aged 65 or older with an annual credit equal to 50% of their property tax bill, up to a maximum of $6,500 in 2026 (with increases in subsequent years). Eligibility is based on owning a homestead in New Jersey and having a gross income of less than $500,000.
The bill also establishes the "Stay NJ Task Force" to develop recommendations for consolidating existing property tax relief programs into a single, streamlined program. The bill expands income limits and modifies ownership requirements for the homestead property tax reimbursement program. Additionally, it enhances ANCHOR benefits for seniors by providing an additional $250 benefit for homeowners aged 65+ with income under $250,000 and tenants aged 65+ with income under $150,000. Appropriations are made to support the task force and outreach efforts.
Committee Categories
Budget and Finance, Health and Social Services
Sponsors (15)
Craig Coughlin (D)*,
Roy Freiman (D)*,
Lou Greenwald (D)*,
Joe Lagana (D)*,
Yvonne Lopez (D)*,
Angela Mcknight (D)*,
Paul Moriarty (D)*,
Nick Scutari (D)*,
Lisa Swain (D)*,
Chris Tully (D)*,
Benjie Wimberly (D)*,
Joe Danielsen (D),
Linda Greenstein (D),
Eliana Pintor Marin (D),
Shanique Speight (D),
Last Action
Approved P.L.2023, c.75. (on 06/30/2023)
Official Document
bill text
bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://www.njleg.state.nj.us/bill-search/2022/A1 |
| BillText | https://pub.njleg.gov/Bills/2022/PL23/75_.HTM |
| Fiscal Note - Fiscal Estimate 8/9/23; 2R | https://pub.njleg.gov/Bills/2022/A0500/1_E2.PDF |
| BillText | https://pub.njleg.gov/Bills/2022/AL23/75_.HTM |
| BillText | https://pub.njleg.gov/Bills/2022/A0500/1_R2.HTM |
| BillText | https://pub.njleg.gov/Bills/2022/A0500/1_R1a.HTM |
| Analysis - Statement ABU 6/28/23 1R | https://pub.njleg.gov/Bills/2022/A0500/1_S2.PDF |
| Fiscal Note - Fiscal Estimate 6/21/23; 1R | https://pub.njleg.gov/Bills/2022/A0500/1_E1.PDF |
| BillText | https://pub.njleg.gov/Bills/2022/A0500/1_R1.HTM |
| Analysis - Statement ASE 6/8/23 | https://pub.njleg.gov/Bills/2022/A0500/1_S1.PDF |
| BillText | https://pub.njleg.gov/Bills/2022/A0500/1_I1.HTM |
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