MADDEN BILL TO EXPAND HOMESTEAD REBATE PROGRAM IS NOW LAW

TRENTON – A measure sponsored by Senator Fred H. Madden, which expands New Jersey’s Homestead Property Tax Rebate program to help more seniors and disabled residents was signed into law today.

            “The expansion of this program has been a long time in the making,” said Senator Madden, D-Camden and Gloucester, who first sponsored this legislation in 2004.  “I am pleased with the signing of this bill, and all that it will do to help provide some much-needed financial relief for some of the State’s most vulnerable seniors and disabled residents.”

            The Senator’s bill, S-661, revises the eligibility criteria for seniors and disabled residents to receive Homestead property tax reimbursement.  Under the new law, eligible residents will have to meet a three year home ownership requirement for initial eligibility.  Eligible residents who move to another home will be permitted to resume eligibility to receive the homestead reimbursement the second full tax year following the move.

            “As the economy continues to change, quite a few of our older and disabled residents find themselves having to move to more affordable homes. The impetus for this law came from one of my Gloucester County constituents who was in this predicament.  This legislation will help to permit residents who would normally qualify for the homestead rebate program, but decide to move – out of necessity or otherwise, to receive these benefits,” said Senator Madden.

            The Senate unanimously approved this measure on June 25, 2009.

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