54:4-8.75p1 Information collection, property tax credit implementation. 11. a. After the effective date of P.L.2024, c.88 (C.54:4-8.75p1 et al.), the Director of the Division of Taxation in the Department of the Treasury, in consultation with the Director of the Division of Local Government Services in the Department of Community Affairs and local officials, shall develop a process to implement a property tax credit for the payment of benefits under the homestead property tax reimbursement program and the Stay NJ property tax credit program. As a part of that process, the Director of the Division of Taxation shall collect information from local officials regarding how to effectively implement property tax credits in future years for those programs. The collection of such information may include, but shall not be limited to, the administration of a standardized survey data collection instrument. b. Notwithstanding the provisions of subsection a. of this section regarding the development of a process for implementing property tax credits, the Director of the Division of Taxation shall also determine the feasibility of allowing eligible claimants for homestead property tax development of a process for implementing property tax credits, the Director of the Division of Taxation shall also determine the feasibility of allowing eligible claimants for homestead property tax reimbursement and Stay NJ property tax credits to choose to continue to receive annual checks or direct deposits into a bank account instead of a property tax credit.L.2024, c.88, s.11.
New Jersey Legal Code