[First Reprint]

ASSEMBLY, No. 911

STATE OF NEW JERSEY

219th LEGISLATURE

PRE-FILED FOR INTRODUCTION IN THE 2020 SESSION

Sponsored by:

Assemblywoman  DIANNE C. GOVE

District 9 (Atlantic, Burlington and Ocean)

Assemblyman  BRIAN E. RUMPF

District 9 (Atlantic, Burlington and Ocean)

Assemblyman  JOHN ARMATO

District 2 (Atlantic)

Assemblyman  VINCENT MAZZEO

District 2 (Atlantic)

Co-Sponsored by:

Assemblywoman N.Munoz, Assemblyman Johnson, Assemblywomen DiMaso, Dunn, Assemblymen Mukherji, Mejia, Catalano, McGuckin, Assemblywoman Jimenez, Assemblymen Space, Wirths, Assemblywomen Vainieri Huttle, Swain and Assemblyman Tully

SYNOPSIS

     Extends veterans’ property tax exemption to tenant shareholders in cooperatives and mutual housing corporations.

CURRENT VERSION OF TEXT

     As reported by the Assembly Military and Veterans' Affairs Committee on March 15, 2021, with amendments.

An Act extending the veterans' property tax exemption to certain veterans and amending ¹[,]¹ and supplementing P.L.1948, c.259.

Be It Enacted by the Senate and General Assembly of the State of New Jersey:

      1.   Section 4 of P.L.1948, c.259 (C.54:4-3.33) is amended to read as follows:

      4.   "Dwelling house," as used in [this act] P.L.1948, c.259 (C.54:4-3.30 et seq.) , shall mean any one-family building or structure or any ¹[unit] apartment¹ of a horizontal property regime established pursuant to the "Horizontal Property Act," P.L.1963, c.168 (C.46:8A-1 et seq.) or any unit of a condominium property established pursuant to the "Condominium Act," P.L.1969, c.257 (C.46:8B-1 et seq.) owned and occupied by a claimant as his legal residence in this State, or any unit in a cooperative ¹[as defined in] established pursuant to¹ "The Cooperative Recording Act of New Jersey," P.L.1987, c.381 (C.46:8D-1 et seq.), or a mutual housing corporation as defined in section 2 of P.L.1990, c.61 (C.54:4-8.58), which is occupied by a claimant who is a tenant shareholder in that cooperative or mutual housing corporation as the claimant's legal residence in this State, or where a multiple-family building or structure is owned by a claimant, then that portion thereof which is occupied by the claimant as his legal residence in this State, and includes any outhouses or appurtenances belonging thereto or usually enjoyed therewith.

(cf: P.L.1977, c.293, s.1)

     2.    (New section)  For the purposes of P.L.1948, c.259, (C.54:4-3.30 et seq.) a tenant shareholder in a cooperative or mutual housing corporation shall be entitled to an exemption from taxation under that act only to the extent of his proportionate share of the taxes assessed against the real property of the corporation or any other entity holding title to that real property.  The Director of the Division  of Taxation in the Department of the Treasury shall promulgate regulations, in accordance with the "Administrative Procedure Act ¹,¹ " ¹[,]¹ P.L.1968, c.410 (C.52:14B-1 et seq.) to: require that the application for the exemption shall include the name and address of the location of the property and the amount of real property taxes attributed to the cooperative unit or mutual housing residential unit; and ¹[to]¹ ensure that the disabled veteran or surviving spouse, as the case may be, is the sole beneficiary of the disabled veterans' property tax exemption provided by P.L.1948, c.259 (C.54:4-3.30 et seq.).

     3.    This act shall take effect January 1 next following enactment.