Bill
Bill > A3237
NJ A3237
NJ A3237Exempts creditor from paying municipal property registration fee if property is subject to automatic stay under federal Bankruptcy Code.
summary
Introduced
01/13/2026
01/13/2026
In Committee
01/13/2026
01/13/2026
Crossed Over
Passed
Dead
Introduced Session
2026-2027 Regular Session
Bill Summary
This bill exempts certain creditors from payment of a property registration fee for as long as the property remains subject to the automatic stay provision of the federal Bankruptcy Code. Current law, section 3 of P.L.2021, c.444 (C.40:48-2.12s3), authorizes a municipality, by ordinance, to require a foreclosing creditor to register property, and to impose an annual fee on the creditor for registering the property. Under the bill, a creditor who has sought the protection of the federal Bankruptcy Code, and who is protected by the automatic stay provision of the federal Bankruptcy Code, would be excused from the payment of the property registration fees authorized by section 3 of P.L.2021, c.444 (C.40:48-2.12s3).
AI Summary
This bill exempts creditors from paying municipal property registration fees if the property is currently protected by the "automatic stay" provision of the federal Bankruptcy Code. The automatic stay is a legal protection that prevents creditors from taking action against a debtor or their property once the debtor files for bankruptcy. Previously, municipalities could require creditors who were foreclosing on properties to register those properties and pay an annual fee. However, under this bill, if a creditor has filed for bankruptcy and the property is subject to the automatic stay, they will no longer be required to pay these registration fees for as long as that protection remains in effect.
Committee Categories
Housing and Urban Affairs
Sponsors (3)
Last Action
Introduced, Referred to Assembly Housing Committee (on 01/13/2026)
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/2026/A3237 |
| BillText | https://pub.njleg.gov/Bills/2026/A3500/3237_I1.HTM |
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