NJ S4152

State-chartered banks, mortgage companies, and credit unions would be prohibited from requiring veterans with 100% service-connected disabilities (or their surviving spouses) to disclose annual property tax obligations as part of mortgage underwriting for principal residences

The prohibition applies when a municipal assessor certifies that the veteran or surviving spouse meets all eligibility requirements for the disabled veterans' property tax exemption, except property ownership for new purchases

Veterans or surviving spouses purchasing a new home while owning another property must either provide evidence the current home is sold/under contract or notify the assessor they will no longer occupy it as their legal residence

The Commissioner of Banking and Insurance must publish a list of all State-chartered financial institutions on the department's website to help qualified veterans find participating lenders

The act takes effect on the first day of the seventh month following enactment, with the Commissioner required to promulgate rules, regulations, and forms beforehand