A 4474
Provides gross income tax credits for portion of homeowners' association payments used in fund infrastructure improvements within common interest communities.
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Sign in to take action- Introduced
- Passed General Assembly
- Passed Senate
- To Governor
- Became Law
Bill overview
This bill creates a refundable tax credit for New Jersey residents who are members of homeowners’ associations and pay assessments for infrastructure improvements in common interest communities. Eligible taxpayers can claim a credit equal to 18% of their homeowners’ association assessments paid during the year, as verified by a certification from their association. The credit is available regardless of whether the property is subject to property taxes or PILOT agreements, and it applies to taxable years beginning after the bill’s enactment.
Sponsors
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Primary sponsor
Alex Sauickie
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