Homestead Reimbursement Program Bill Clears Senate

SENATE DEMOCRATIC OFFICE RELEASE:
MADDEN/VAN DREW BILL TO EXPAND HOMESTEAD REIMBURSEMENT PROGRAM CLEARS SENATE
TRENTON – A measure sponsored by Senators Fred H. Madden and Jeff Van Drew, which would expand New Jersey’s Homestead Property Tax Reimbursement program to help more seniors and disabled residents was unanimously approved today by the full Senate.
“As the economy continues to change, quite a few of our older and disabled residents find themselves having to move to more affordable homes,” said Senator Madden, D-Camden and Gloucester, who first sponsored this legislation in 2004. “The impetus for this bill came from one of my Gloucester County constituents who was in this predicament. This bill would help to permit residents who would normally qualify for the homestead reimbursement program, but decide to move – out of necessity or otherwise, to receive these benefits.”
The Senators’ bill, S-661, would revise the eligibility criteria for seniors and disabled residents to receive Homestead property tax reimbursement. Under current law, eligible residents would have to meet a three year home ownership requirement for initial eligibility. This measure would allow program participants who move to another home to resume eligibility and receive the homestead reimbursement one year following the move.
“This legislation would help to ensure that all qualified residents are able receive these benefits,” said Senator Van Drew, D-Cape May and Atlantic. “This revision is a small change that will make a significant difference in the pockets of these seniors and disabled residents.”
This measure now heads for the Assembly for approval. #