New Jersey § 54:4-8
Full text of New Jersey New Jersey Statutes § 54:4-8, with citation guidance and answers to common questions.
§ 54:4-8.
a. The Department of the Treasury shall establish a dedicated, nonlapsing account
for the purpose of providing property tax benefits to homestead owners and tenants
65 years of age or older on their principal residences, whether owned or rented. All moneys deposited into the account shall be used for the payment of property
tax benefits in accordance with subsection c. of this section. b. (1) There is appropriated to the account established by subsection a. of this section
in State Fiscal Year 2024, $100,000,000 for the purpose of providing property tax
benefits in accordance with subsection c. of this section, subject to the approval
of the Director of the Division of Budgeting and Accounting in the Department of the
Treasury. (2) The annual appropriations act for State Fiscal Year 2025 shall include an appropriation
to the account established by subsection a. of this section, in an amount not to exceed
$200,000,000 for the purpose of providing property tax benefits in accordance with
subsection c. of this section. (3) The annual appropriations act for State Fiscal Year 2026 shall include an appropriation
to the account established by subsection a. of this section, in an amount not to exceed
$300,000,000 for the purpose of providing property tax benefits in accordance with
subsection c. of this section. c. Beginning in State Fiscal Year 2026, moneys in the account established by subsection
a. of this section shall be appropriated solely for the Stay NJ property tax credit
program established pursuant to section 3 of P.L.2023, c. 75 ( C.54:4-8.75c ).
Frequently Asked Questions About New Jersey § 54:4-8
What does New Jersey Statutes § 54:4-8 cover?
Section 54:4-8 is part of the New Jersey Statutes, the codified statutory law of New Jersey. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite New Jersey § 54:4-8?
A common citation format is "New Jersey Statutes § 54:4-8" (New Jersey). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of New Jersey law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the New Jersey official source linked on this page or consult a licensed New Jersey attorney.
How does New Jersey § 54:4-8 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in New Jersey can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in New Jersey.