New Jersey A 4010: Requires entities performing certain construction services on public contracts to carry errors and omissions insurance.

Bill Text

A4010 

ASSEMBLY, No. 4010 

STATE OF NEW JERSEY

222nd LEGISLATURE

� 

INTRODUCED FEBRUARY 5, 2026

Sponsored by:

Assemblyman� ALEX SAUICKIE

District 12 (Burlington, Middlesex, Monmouth and Ocean)

SYNOPSIS

���� Amends Fiscal Year 2026 annual appropriations act to 
extend ANCHOR benefits to certain individuals for payments in lieu of property 
taxes. 

CURRENT VERSION OF TEXT 

���� As introduced.

�� 

An Act to amend the annual 
appropriations act for the fiscal year ending June 30, 2026, P.L.2025, c.74, to 
extend ANCHOR benefits to certain individuals for payments in lieu of property 
taxes.

���� Be It 
Enacted by the Senate and General Assembly of 
the State of New Jersey:

���� 1.� The following language 
provision in section 1 of P.L.2025, c.74, the annual appropriations act for 
State Fiscal Year 2026, is amended to read as follows:

82 DEPARTMENT OF THE TREASURY

70� Government Direction, Management, 
and Control

75� State Subsidies and Financial Aid

GRANTS IN AID

The amount hereinabove appropriated for the ANCHOR Property 
Tax Relief Program shall be available to provide property tax benefits to 
eligible homestead owners and tenants on their principal residences, whether 
owned or rented, including principal residences on which a homestead owner 
made one or more payments in lieu of property taxes to the municipality in 
which the residence is located, and including principal residences of tenants 
who paid rent on a homestead that is a unit of residential property on which 
payments in lieu of property taxes have been made to the municipality in which 
the residence is located, pursuant to the provisions 
of section 3 of P.L.1990, c.61 (C.54:4-8.59) as amended by P.L.2004, c.40 and 
by P.L.2007, c.62, as may be amended from time to time except that, 
notwithstanding the provisions of such laws to the contrary: (i) homestead 
owner residents with (a) gross income in excess of $150,000 but not in excess 
of $250,000 for tax year 2024 are eligible for a benefit in the amount of property 
taxes or payments in lieu of property taxes paid, but not to exceed the 
amount of $1,000; (b) gross income not in excess of $150,000 for tax year 2024 
are eligible for a benefit in the amount of property taxes or payments in 
lieu of property taxes paid, but not to exceed $1,500; homestead owner 
residents with gross income in excess of $250,000 for tax year 2024 are 
excluded from the program; (ii) residents whose homestead is a unit of 
residential rental property with (a) gross income in excess of $150,000 for tax 
year 2024 are excluded from the program; and (b) gross income not in excess of 
$150,000 for tax year 2024 are eligible for a benefit of $450; (iii) and 
provided further that residents who are eligible for a benefit pursuant to (i) 
and (ii) above and are 65 years of age or older at the close of tax year 2024 
are eligible for an additional benefit of $250. These 
benefits listed pursuant to this paragraph will be based on the 2023 property 
tax amounts assessed or as would have been assessed on the October 1, 2024 
principal residence of eligible applicants or based on the 2023 in lieu 
of property tax amounts attributable to the principal residence on October 1, 
2024. The 2024 property tax benefit shall be paid as soon as possible, but 
not later than May as a rebate to all eligible homestead owners and residents 
whose homestead is a unit of residential rental property, subject to the 
approval of the Director of the Division of Budget and Accounting. If the 
amount hereinabove appropriated for the ANCHOR Property Tax Relief Program is 
not sufficient, there are appropriated from the Property Tax Relief Fund such 
additional amounts as may be required to provide such property tax benefits, 
subject to the approval of the Director of the Division of Budget and 
Accounting.

(cf: 
P.L.2025, c.74, s.1)

���� 2. �This act shall take effect 
immediately.

STATEMENT

���� This bill would amend the 
Fiscal Year 2026 annual appropriations act to extend ANCHOR Property Tax Relief 
Program eligibility to residences on which a homestead owner made one or more 
payments in lieu of property taxes to the municipality in which the residence 
is located, or a tenant whose residence is a unit of rental property on which a 
payment in lieu of property taxes has been made.

���� With respect to State Fiscal 
Year 2026, the ANCHOR Property Tax Relief Program provides property tax relief 
to New Jersey residents who met certain income limits.� That property tax relief will be based on the 2023 property tax amounts or 
in lieu of property tax amounts assessed, or as would have been assessed, on 
the October 1, 2024 principal residence of those eligible applicants.� 
Currently, homestead owners and tenants for payments in lieu of taxes on their 
residences are ineligible for the property tax benefit under the program.