Requires annual State aid payments to certain municipalities in which significant portions of State-owned and county-owned property is located.

This bill requires the State of New Jersey to provide annual financial aid to specific municipalities that host significant amounts of state-owned or county-owned property. To qualify, a municipality must have a population of 30,000 or fewer and contain at least 10 percent of its total land area as tax-exempt state or county property. Under the new rules, eligible towns would receive a payment of $500 for every acre of such property located within their borders. The process involves local assessors reporting property acreage to the State Treasurer, who then distributes the funds from the Property Tax Relief Fund by August 1 each year.