TRENTON – Legislation sponsored by Senators Nia H. Gill and Linda R. Greenstein to suspend mortgage and property tax payments for National Guard members and Reservists while they are mobilized is now law.
“Whether it’s for a natural disaster or an overseas military operation, these service members have enough to deal with during the time period that they’re mobilized,” said Senator Gill. “Suspending property tax and mortgage payments until after they return will allow them time to reestablish themselves and to sort out their financial obligations before having to make these payments. This is not only beneficial from a practical standpoint, but also demonstrates that we understand the stress these men and women are under while they are activated.”
“Providing relief to service members for the length of time they are deployed and some breathing room after they return from deployment is the right thing to do,” said Senator Greenstein. “We saw overwhelming bipartisan support for this proposal in the Legislature and are glad the governor signed it into law.”
According to the New Jersey Department of Military and Veterans Affairs, approximately 1,000 New Jersey National Guard members were scheduled to be deployed to Afghanistan, Albania, Germany, Kosovo, Kuwait, Qatar, and the area of responsibility covered by the United States Central Command during 2015.
The law (S1386) will allow a State resident who is mobilized for federal active duty as a member of the National Guard or Reserve Component of the United States Armed Forces to request for that period of mobilization a deferment of the payment of interest and principal on a mortgage loan, as well as for a suspension of property tax payments during deployment.
The deferment for mortgage payments would expire 60 calendar days after release or separation from federal active duty, while the deferment of property tax payments would expire 90 days afterward.
The Senate approved the bill by a vote of 35-0 and the Assembly approved it 74-0. The law takes effect immediately.