Prohibits certain property from receiving property tax exemption or abatement.

This bill prohibits properties that received benefits under the "Grow New Jersey Assistance Act" (2011) or the "New Jersey Economic Stimulus Act of 2009" from qualifying for property tax exemptions or abatements under two specific laws: the "Long Term Tax Exemption Law" and the "Five-Year Exemption and Abatement Law." It directly affects property owners who used state economic incentive programs to develop or improve their properties, preventing them from receiving additional tax breaks. The bill states that these properties have already benefited from public funding, so municipalities should not provide further tax advantages through the targeted exemption laws. The law takes effect immediately upon passage.