N.J. Stat. § 54:4-8.75h

Current through L. 2024, c. 80.

Section 54:4-8.75h - Delinquency, property tax payment, cooperative, mutual housing corporation, continuing care retirement community, procedure

In the case of a delinquency in the payment of property taxes by a cooperative, mutual housing corporation or continuing care retirement community, a Stay NJ property tax credit that may be due an individual shall be paid by the State Treasurer to the tax collector of the municipality. The tax collector shall credit the cooperative, mutual housing corporation or continuing care retirement community with such payment and the cooperative, mutual housing corporation or continuing care retirement community shall, in turn, credit the individual unit owner to the extent of the Stay NJ property tax credit and notify the eligible claimant of the amount to be credited.

N.J.S. § 54:4-8.75h

Added by L. 2023, c. 75,s. 8, eff. 6/30/2023, app., with respect to Stay NJ property tax credits, first to the tax year quarter beginning January 1, 2026, or, if the Governor and the Legislature fail to enact legislation as required by section 19 of P.L.2023, c.75 (C.54:4-8.75p), the first tax year quarter beginning no less than six months following promulgation of the combined single application form.