New Jersey Statutes 40A:4-27.3. Distribution of certain municipal revenues to real property taxpayers; definitions
Terms Used In New Jersey Statutes 40A:4-27.3
- budget: means the budget of a local unit. See New Jersey Statutes 40A:1-1
- director: means the Director of the Division of Local Government Services in the Department of Community Affairs. See New Jersey Statutes 40A:1-1
- Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
- real property: include lands, tenements and hereditaments and all rights thereto and interests therein. See New Jersey Statutes 1:1-2
b. For the purposes of this section:
“Reimbursement amount” means a sum of money equal to a credit against taxes distributed pursuant to subsection a. of this section to the landlord of a multifamily dwelling and shall be considered a property tax reduction for the purposes of the “Tenants’ Property Tax Rebate Act,” P.L.1976, c.63 (C. 54:4-6.2 et seq.).
c. When a reimbursement amount is received by the landlord of a multifamily dwelling pursuant to subsection a. of this section, the reimbursement amount shall be considered a “property tax reduction” as defined in section 2 of the “Tenants’ Property Tax Rebate Act,” P.L.1976, c.63 (C. 54:4-6.3), and shall be distributed in the same manner as distributions or credits are made under the “Tenants’ Property Tax Rebate Act,” P.L.1976, c.63 (C. 54:4-6.2 et seq.).
d. In addition to any regulations promulgated pursuant to the “Tenants’ Property Tax Rebate Act,” P.L.1976, c.63 (C. 54:4-6.2 et seq.), the Director of the Division of Local Government Services in the Department of Community Affairs shall provide, through rules, regulations and forms adopted pursuant to the “Administrative Procedure Act,” P.L.1968, c.410 (C. 52:14B-1 et seq.), that reimbursement distributions or credit received by tenants under P.L.2001, c.140 (C. 40A:4-27.3) shall be provided to tenants as a tenant property tax rebate.
L.2001,c.140.