8. In the case of a delinquency in the payment of property taxes by a cooperative, mutual housing corporation or continuing care retirement community, a Stay NJ property tax credit that may be due an individual shall be paid by the State Treasurer to the tax collector of the municipality. The tax collector shall credit the cooperative, mutual housing corporation or continuing care retirement community with such payment and the cooperative, mutual housing corporation or continuing care retirement community shall, in turn, credit the individual unit owner to the extent of the Stay NJ property tax credit and notify the eligible claimant of the amount to be credited.
N.J. Stat. Ann. § 54:4-8.75h
Delinquency, property tax payment, cooperative, mutual housing corporation, continuing care retirement community, procedure
Known as the Uniform Transitional Utility Assessment Act
The act spans §§ 54:10A-1 to 54:8A-99 (2,083 sections).
L.2023, c.75, s.8.
Current official text: New Jersey Legislature. Digitized from the New Jersey Legislature bulk statutes download. Reproduced from public-domain New Jersey statutes; confirm against the official source for the current text. Not legal advice.