NJ S4691

Establishes the "Municipal Property Tax Relief Aid Fund" effective July 1, 2025, replacing the Energy Tax Receipts Property Tax Relief Aid and Consolidated Municipal Property Tax Relief Aid programs

Credits $1,455,000,000 to the fund in State fiscal year 2026, with annual increases tied to the Implicit Price Deflator index rate for subsequent years

Guarantees no municipality receives less than its calendar year 2024 (or fiscal year 2025) Energy Tax Receipts Property Tax Relief Aid amount, with excess funds distributed based on factors including population, median household income, equalized property valuation, and municipal distress levels

Requires 75% of certain energy and utility tax revenues exceeding $1.425 billion annually to be credited to the fund as additional municipal aid

Includes enforcement mechanism: if the State fails to make required appropriations, corporate taxpayers (excluding public utilities) would have no corporation business tax liability for that tax year