Modifies Stay NJ property tax credit program eligibility criteria to include certain claimants who relocate from homestead during tax year.

Summary

The bill changes the eligibility rules for New Jersey’s Stay NJ property tax credit so that seniors who own a home and relocate to another New Jersey residence during the prior tax year can still receive the credit. To qualify, they must be 65 or older, have household income under $500,000, and own at least one homestead for the entire prior tax year. The amendment is intended to keep older homeowners in the state even if they move.

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