Requires direct payment of homestead credit to claimant following sale of qualifying homestead and upon claimant request.

S 1309 (New Jersey) changes how homestead property tax credits are paid. It allows homeowners who sell their qualifying homes after applying for the credit to request direct payment (via check, debit card, or bank transfer) instead of having the credit applied to their property tax bill. To qualify, homeowners must notify the Division of Taxation at least 105 days before the payment date. This addresses a current risk where sellers might not receive the full credit if the credit is tied to the property after the sale. The bill applies specifically to homeowners who sell their homesteads post-application but before receiving the credit.