This bill amends existing law to exempt certain surviving spouses and surviving civil union partners of disabled veterans from the basic and supplemental components of the realty transfer fee when selling their one- or two-family residential premises. Specifically, it allows these exemptions for surviving spouses or partners of veterans who were 100% disabled in active service during wartime, provided that the veteran qualified for a property tax exemption at the time of their death. This exemption applies during the period of widowhood or widowerhood of the surviving spouse or partner.

In addition to the new exemptions, the bill modifies the language regarding the supplemental fee associated with property transfers. It removes the previous reference to certain exemptions and includes the new exemption for surviving spouses and partners of disabled veterans. The intent of the bill is to provide financial relief to those who have endured the sacrifices of military service, recognizing the unique challenges faced by these individuals in the aftermath of their loved ones' service and sacrifice. The bill is set to take effect immediately and will apply to sales made on or after the first day of the third month following its enactment.

Statutes affected:
Introduced: 46:15-10.1, 46:15-7.1