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NJ S1947
Bill
Status
1/13/2026
Primary Sponsor
Holly Schepisi
Click for details
AI Summary
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Properties that received benefits under the "Grow New Jersey Assistance Act" (P.L.2011, c.149) or the "New Jersey Economic Stimulus Act of 2009" (P.L.2009, c.90) would be prohibited from receiving property tax exemptions under the Long Term Tax Exemption Law
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These same properties would also be ineligible for exemptions or abatements under the Five-Year Exemption and Abatement Law
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The bill aims to prevent property owners who already received public economic development incentives from obtaining additional municipal tax benefits
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Sponsored by Senator Holly T. Schepisi (District 39, Bergen County) and pre-filed for introduction in the 2026 legislative session
Legislative Description
Prohibits certain property from receiving property tax exemption or abatement.
Community and Urban Affairs
Last Action
Introduced in the Senate, Referred to Senate Community and Urban Affairs Committee
1/13/2026