New Jersey § 54:4-8

§ 54:4-8.

a. There is established in the Department of the Treasury the Stay NJ Task Force. The purpose of the task force shall be to develop recommendations for establishing

and funding uniform property tax relief to all senior citizen homeowners and tenants

making under $500,000 per year. The task force shall review all of the existing property tax relief programs and

present, to the Governor and the Legislature, no later than May 30, 2024, a report

containing recommendations about how to restructure, and consolidate, the various

property tax relief programs into one, streamlined, property tax relief program that

would deliver to senior citizens having an annual gross income under $500,000 an annual

property tax benefit, which for homeowners shall be in the amount of 50 percent of

the property tax bill on their principal residence, beginning with the tax year 2026,

which commences on January 1 of that year. The report shall include recommendations concerning system improvements that both

the State and local government units would need to implement the Stay NJ property

tax credit program and the funding required to establish and maintain such system

improvements. The task force shall provide recommendations that have a target implementation date

of January 1, 2026. b. The task force shall be comprised of six members. The membership of the task force shall be appointed as follows: The State Treasurer, or the State Treasurer's designee, who shall serve ex officio; The Commissioner of Community Affairs, or the commissioner's designee, who shall serve

ex officio; One public member, who shall be appointed by the Governor, who may be an employee

of the Executive Branch of State government; One public member who shall be appointed by the Governor upon the recommendation of

the Senate President; One public member who shall be appointed by the Governor upon the recommendation of

the Speaker of the General Assembly; and One public member who shall be appointed by the Governor upon the joint recommendation

of the Senate President and the Speaker of the General Assembly. The task force shall have a chairperson and a vice chairperson designated by the Governor. The Governor shall designate as the chairperson one of the cabinet members of the

task force, or their designee, or the public member appointed by the Governor. The Governor shall designate as the vice chairperson a public member upon the joint

recommendation of the Senate President and the Speaker of the General Assembly. The Governor shall also appoint a secretary. There shall be required affirmative vote of four out of the six members of the task

force for an action to be taken or a decision made. The task force shall organize as expeditiously as practicable following the appointment

of all its public members. Appointments to the task force shall be made in an expeditious manner to ensure

the task force has sufficient time to make the recommendations required by this section

in order to facilitate implementation of the Stay NJ program on or before the dates

set forth in P.L.2023, c. 75 ( C.54:4-8.75a et al.). c. The Governor shall appoint an executive director, who shall be employed by the

task force and paid by the task force from funds appropriated for its use pursuant

to P.L.2023, c. 75 ( C.54:4-8.75a et al.). The Department of the Treasury shall provide staff support to the task force. The task force shall be entitled to call to its assistance and avail itself of the

services of the employees of any State, county, or municipal department, board, bureau,

commission, or agency as the task force may require and as may be available to the

task force for its purposes. The task force may consult with experts or other knowledgeable individuals in the

public or private sector on any aspect of its mission outlined in this section; provided,

however, any services, professional or otherwise, that the task force requires shall

be procured by the Department of the Treasury. No later than May 30, 2024, the task force shall prepare and submit to the Governor

and, pursuant to section 2 of P.L.1991, c. 164 ( C.52:14-19.1 ), to the Legislature, a report detailing the task force's recommendations as required

by this section, including any recommendations for legislative or regulatory action

that are necessary to effectuate the recommendations. d. Beginning September 1, 2023 and on the first day of each calendar quarter thereafter,

the executive director shall submit to the presiding officer of each House of the

Legislature, and to the chairs of the Senate Budget and Appropriations Committee and

the Assembly Budget Committee, a status update on the work undertaken by the task

force during the previous calendar quarter. The presiding officer of each House of the Legislature, and the chairs of the Senate

Budget and Appropriations Committee and the Assembly Budget Committee, may request

that specific information be included in the quarterly status updates required by

this subsection concerning the work of the task force and the formulation of any recommendations

it may make for the streamlining of the various property tax relief programs for senior

citizens provided by the State into one, uniform program. e. The task force shall disband on the 30th day after the enactment of legislation

in response to the Stay NJ Task Force pursuant to section 19 of P.L.2023, c. 75 ( C.54:4-8.75p ).