Requires State reimbursement to municipalities of cost of disabled veterans' total property tax exemption.

This bill requires the state to reimburse New Jersey municipalities 102% of the property tax revenue they lose when granting total property tax exemptions to disabled veterans. It directly affects local governments that provide these exemptions under existing law (P.L.1948, c.259). The reimbursement covers both the lost tax revenue and administrative costs incurred by municipalities. The state must pay this annually based on certified exemption amounts provided by tax assessors and county boards. This policy change ensures municipalities aren't financially burdened by the exemption program.