This amendment would allow eligible veterans who live in continuing care retirement communities to receive the value of the $250 property tax deduction currently granted to veterans who reside in a private residence. This amendment would give the veterans' property tax deduction to continuing care retirement communities on behalf of eligible veterans.

The total amount of the deduction given to a continuing care retirement community would be based on the number of eligible veterans who live there. The community would be required to pass the value of the deduction on to each eligible veteran.

Deductions would not be paid to continuing care retirement communities that are property tax-exempt. An eligible veteran who receives the value of a deduction through a continuing care retirement community cannot receive a veterans' property tax deduction on any other home he or she owns or in which a spouse lives.

Eligible veterans must be New Jersey residents. They must have served in the military in time of war, or other emergency. They must be honorably discharged.