diff --git a/changelog.d/7763.added.md b/changelog.d/7763.added.md
new file mode 100644
index 00000000000..f1ade512119
--- /dev/null
+++ b/changelog.d/7763.added.md
@@ -0,0 +1 @@
+Added NJ StayNJ and ANCHOR budget housing reforms as separately toggleable contributed reforms.
diff --git a/policyengine_us/parameters/gov/contrib/states/nj/anchor/homeowner/senior/amount/lower_income.yaml b/policyengine_us/parameters/gov/contrib/states/nj/anchor/homeowner/senior/amount/lower_income.yaml
new file mode 100644
index 00000000000..ec145e1e1a5
--- /dev/null
+++ b/policyengine_us/parameters/gov/contrib/states/nj/anchor/homeowner/senior/amount/lower_income.yaml
@@ -0,0 +1,15 @@
+description: >-
+  New Jersey reduces the ANCHOR senior homeowner lower-income benefit to this amount
+  after the $250 bonus expires following FY2026.
+values:
+  2027-01-01: 1_500
+
+metadata:
+  unit: currency-USD
+  period: year
+  label: NJ ANCHOR senior homeowner lower-income amount (post-bonus)
+  reference:
+    - title: P.L. 2023, c.75, Section 15 - ANCHOR Senior Bonus (sunset FY2026)
+      href: https://pub.njleg.state.nj.us/Bills/2022/PL23/75_.PDF#page=11
+    - title: ANCHOR Program - How Benefits Are Calculated
+      href: https://www.nj.gov/treasury/taxation/anchor/calculated.shtml
diff --git a/policyengine_us/parameters/gov/contrib/states/nj/anchor/homeowner/senior/amount/upper_income.yaml b/policyengine_us/parameters/gov/contrib/states/nj/anchor/homeowner/senior/amount/upper_income.yaml
new file mode 100644
index 00000000000..064355e4531
--- /dev/null
+++ b/policyengine_us/parameters/gov/contrib/states/nj/anchor/homeowner/senior/amount/upper_income.yaml
@@ -0,0 +1,15 @@
+description: >-
+  New Jersey reduces the ANCHOR senior homeowner upper-income benefit to this amount
+  after the $250 bonus expires following FY2026.
+values:
+  2027-01-01: 1_000
+
+metadata:
+  unit: currency-USD
+  period: year
+  label: NJ ANCHOR senior homeowner upper-income amount (post-bonus)
+  reference:
+    - title: P.L. 2023, c.75, Section 15 - ANCHOR Senior Bonus (sunset FY2026)
+      href: https://pub.njleg.state.nj.us/Bills/2022/PL23/75_.PDF#page=11
+    - title: ANCHOR Program - How Benefits Are Calculated
+      href: https://www.nj.gov/treasury/taxation/anchor/calculated.shtml
diff --git a/policyengine_us/parameters/gov/contrib/states/nj/anchor/in_effect.yaml b/policyengine_us/parameters/gov/contrib/states/nj/anchor/in_effect.yaml
new file mode 100644
index 00000000000..cf768138fdb
--- /dev/null
+++ b/policyengine_us/parameters/gov/contrib/states/nj/anchor/in_effect.yaml
@@ -0,0 +1,14 @@
+description: >-
+  New Jersey ANCHOR senior homeowner bonus expiry reform applies if this is true.
+values:
+  0000-01-01: false
+
+metadata:
+  unit: bool
+  period: year
+  label: NJ ANCHOR senior bonus expiry in effect
+  reference:
+    - title: P.L. 2023, c.75, Section 15 - ANCHOR Senior Bonus (sunset FY2026)
+      href: https://pub.njleg.state.nj.us/Bills/2022/PL23/75_.PDF#page=11
+    - title: NJ FY2027 Budget in Brief - ANCHOR Senior Renter Bonus Extension
+      href: https://www.nj.gov/treasury/omb/publications/27bib/BIB.pdf#page=18
diff --git a/policyengine_us/parameters/gov/contrib/states/nj/stay_nj/in_effect.yaml b/policyengine_us/parameters/gov/contrib/states/nj/stay_nj/in_effect.yaml
new file mode 100644
index 00000000000..4e9933f33b6
--- /dev/null
+++ b/policyengine_us/parameters/gov/contrib/states/nj/stay_nj/in_effect.yaml
@@ -0,0 +1,14 @@
+description: >-
+  New Jersey StayNJ budget reform applies if this is true.
+values:
+  0000-01-01: false
+
+metadata:
+  unit: bool
+  period: year
+  label: NJ StayNJ budget reform in effect
+  reference:
+    - title: NJ FY2027 Budget in Brief - Property Tax Relief
+      href: https://www.nj.gov/treasury/omb/publications/27bib/BIB.pdf#page=17
+    - title: Governor Sherrill Presents Fiscal Year 2027 Budget
+      href: https://www.nj.gov/governor/news/2026/20260310b.shtml
diff --git a/policyengine_us/parameters/gov/contrib/states/nj/stay_nj/income_limit.yaml b/policyengine_us/parameters/gov/contrib/states/nj/stay_nj/income_limit.yaml
new file mode 100644
index 00000000000..ce623d66204
--- /dev/null
+++ b/policyengine_us/parameters/gov/contrib/states/nj/stay_nj/income_limit.yaml
@@ -0,0 +1,15 @@
+description: >-
+  New Jersey reduces the StayNJ income threshold to this amount under the
+  Governor's FY2027 budget proposal.
+values:
+  2027-01-01: 250_000
+
+metadata:
+  unit: currency-USD
+  period: year
+  label: NJ StayNJ budget reform income limit
+  reference:
+    - title: NJ FY2027 Budget in Brief - Property Tax Relief
+      href: https://www.nj.gov/treasury/omb/publications/27bib/BIB.pdf#page=17
+    - title: P.L. 2023, c.75 - Stay NJ Act
+      href: https://pub.njleg.state.nj.us/Bills/2022/PL23/75_.PDF#page=1
diff --git a/policyengine_us/parameters/gov/contrib/states/nj/stay_nj/max_benefit.yaml b/policyengine_us/parameters/gov/contrib/states/nj/stay_nj/max_benefit.yaml
new file mode 100644
index 00000000000..a42fe65d566
--- /dev/null
+++ b/policyengine_us/parameters/gov/contrib/states/nj/stay_nj/max_benefit.yaml
@@ -0,0 +1,15 @@
+description: >-
+  New Jersey caps the StayNJ maximum benefit at this amount under the
+  Governor's FY2027 budget proposal.
+values:
+  2027-01-01: 4_000
+
+metadata:
+  unit: currency-USD
+  period: year
+  label: NJ StayNJ budget reform max benefit
+  reference:
+    - title: NJ FY2027 Budget in Brief - Property Tax Relief
+      href: https://www.nj.gov/treasury/omb/publications/27bib/BIB.pdf#page=17
+    - title: P.L. 2023, c.75 - Stay NJ Act
+      href: https://pub.njleg.state.nj.us/Bills/2022/PL23/75_.PDF#page=1
diff --git a/policyengine_us/reforms/reforms.py b/policyengine_us/reforms/reforms.py
index 3070e9395e9..ac8e92d78ee 100644
--- a/policyengine_us/reforms/reforms.py
+++ b/policyengine_us/reforms/reforms.py
@@ -177,6 +177,12 @@
 from .congress.watca import (
     create_watca_reform,
 )
+from .states.nj.stay_nj import (
+    create_nj_stay_nj_reform,
+)
+from .states.nj.anchor import (
+    create_nj_anchor_reform,
+)
 
 
 from .states.ga.sb520 import (
@@ -346,6 +352,8 @@ def create_structural_reforms_from_parameters(parameters, period):
     ct_hb5009 = create_ct_hb5009_reform(parameters, period)
     ga_sb520 = create_ga_sb520_reform(parameters, period)
     watca = create_watca_reform(parameters, period)
+    nj_stay_nj = create_nj_stay_nj_reform(parameters, period)
+    nj_anchor = create_nj_anchor_reform(parameters, period)
 
     reforms = [
         afa_reform,
@@ -428,6 +436,8 @@ def create_structural_reforms_from_parameters(parameters, period):
         ct_tax_rebate_2026,
         ga_sb520,
         watca,
+        nj_stay_nj,
+        nj_anchor,
     ]
     reforms = tuple(filter(lambda x: x is not None, reforms))
 
diff --git a/policyengine_us/reforms/states/nj/__init__.py b/policyengine_us/reforms/states/nj/__init__.py
new file mode 100644
index 00000000000..5a45d51f079
--- /dev/null
+++ b/policyengine_us/reforms/states/nj/__init__.py
@@ -0,0 +1,2 @@
+from .stay_nj import create_nj_stay_nj_reform, nj_stay_nj_budget_reform
+from .anchor import create_nj_anchor_reform, nj_anchor_budget_reform
diff --git a/policyengine_us/reforms/states/nj/anchor/__init__.py b/policyengine_us/reforms/states/nj/anchor/__init__.py
new file mode 100644
index 00000000000..55d3f807527
--- /dev/null
+++ b/policyengine_us/reforms/states/nj/anchor/__init__.py
@@ -0,0 +1,4 @@
+from .nj_anchor_reform import (
+    create_nj_anchor_reform,
+    nj_anchor_budget_reform,
+)
diff --git a/policyengine_us/reforms/states/nj/anchor/nj_anchor_reform.py b/policyengine_us/reforms/states/nj/anchor/nj_anchor_reform.py
new file mode 100644
index 00000000000..b902ad78c32
--- /dev/null
+++ b/policyengine_us/reforms/states/nj/anchor/nj_anchor_reform.py
@@ -0,0 +1,107 @@
+from policyengine_us.model_api import *
+from policyengine_core.periods import period as period_
+
+
+def create_nj_anchor() -> Reform:
+    class nj_anchor(Variable):
+        value_type = float
+        entity = TaxUnit
+        label = "New Jersey ANCHOR benefit"
+        unit = USD
+        definition_period = YEAR
+        reference = (
+            "https://www.nj.gov/treasury/taxation/anchor/",
+            "https://www.nj.gov/treasury/taxation/anchor/calculated.shtml",
+        )
+        defined_for = "nj_anchor_eligible"
+
+        def formula(tax_unit, period, parameters):
+            p_baseline = parameters(period).gov.states.nj.tax.income.credits.anchor
+            p_reform = parameters(period).gov.contrib.states.nj.anchor
+
+            reform_active = p_reform.in_effect
+
+            gross_income = add(tax_unit, period, ["nj_gross_income"])
+            greater_age = tax_unit("greater_age_head_spouse", period)
+            is_senior = greater_age >= p_baseline.age_threshold
+
+            pays_property_taxes = add(tax_unit, period, ["real_estate_taxes"]) > 0
+            pays_rent = tax_unit("rents", period)
+            is_homeowner = pays_property_taxes & ~pays_rent
+            is_renter = pays_rent & ~pays_property_taxes
+
+            lower_income = gross_income <= p_baseline.homeowner.income_limit.lower
+
+            # Senior homeowner amounts: reform overrides when active
+            baseline_senior_lower = p_baseline.homeowner.senior.amount.lower_income
+            baseline_senior_upper = p_baseline.homeowner.senior.amount.upper_income
+            reform_senior_lower = p_reform.homeowner.senior.amount.lower_income
+            reform_senior_upper = p_reform.homeowner.senior.amount.upper_income
+
+            senior_lower = where(
+                reform_active,
+                reform_senior_lower,
+                baseline_senior_lower,
+            )
+            senior_upper = where(
+                reform_active,
+                reform_senior_upper,
+                baseline_senior_upper,
+            )
+
+            homeowner_senior_amount = where(lower_income, senior_lower, senior_upper)
+
+            # Non-senior homeowner amounts: unchanged from baseline
+            homeowner_non_senior_amount = where(
+                lower_income,
+                p_baseline.homeowner.non_senior.amount.lower_income,
+                p_baseline.homeowner.non_senior.amount.upper_income,
+            )
+            homeowner_amount = where(
+                is_senior,
+                homeowner_senior_amount,
+                homeowner_non_senior_amount,
+            )
+
+            # Renter amounts: unchanged from baseline
+            renter_amount = where(
+                is_senior,
+                p_baseline.renter.senior.amount,
+                p_baseline.renter.non_senior.amount,
+            )
+
+            return where(
+                is_homeowner,
+                homeowner_amount,
+                where(is_renter, renter_amount, 0),
+            )
+
+    class reform(Reform):
+        def apply(self):
+            self.update_variable(nj_anchor)
+
+    return reform
+
+
+def create_nj_anchor_reform(parameters, period, bypass: bool = False):
+    if bypass:
+        return create_nj_anchor()
+
+    p = parameters.gov.contrib.states.nj.anchor
+
+    reform_active = False
+    current_period = period_(period)
+
+    for _ in range(5):
+        if p(current_period).in_effect:
+            reform_active = True
+            break
+        current_period = current_period.offset(1, "year")
+
+    if reform_active:
+        return create_nj_anchor()
+    else:
+        return None
+
+
+nj_anchor_budget_reform = create_nj_anchor_reform(None, None, bypass=True)
diff --git a/policyengine_us/reforms/states/nj/stay_nj/__init__.py b/policyengine_us/reforms/states/nj/stay_nj/__init__.py
new file mode 100644
index 00000000000..dcfc82f1c51
--- /dev/null
+++ b/policyengine_us/reforms/states/nj/stay_nj/__init__.py
@@ -0,0 +1,4 @@
+from .nj_stay_nj_reform import (
+    create_nj_stay_nj_reform,
+    nj_stay_nj_budget_reform,
+)
diff --git a/policyengine_us/reforms/states/nj/stay_nj/nj_stay_nj_reform.py b/policyengine_us/reforms/states/nj/stay_nj/nj_stay_nj_reform.py
new file mode 100644
index 00000000000..4b52deabde0
--- /dev/null
+++ b/policyengine_us/reforms/states/nj/stay_nj/nj_stay_nj_reform.py
@@ -0,0 +1,102 @@
+from policyengine_us.model_api import *
+from policyengine_core.periods import period as period_
+
+
+def create_nj_stay_nj() -> Reform:
+    class nj_staynj_eligible(Variable):
+        value_type = bool
+        entity = TaxUnit
+        label = "New Jersey Stay NJ Property Tax Credit program eligibility"
+        definition_period = YEAR
+        reference = (
+            "https://pub.njleg.state.nj.us/Bills/2022/PL23/75_.HTM",
+            "https://www.nj.gov/treasury/taxation/staynj/index.shtml",
+        )
+        defined_for = StateCode.NJ
+
+        def formula(tax_unit, period, parameters):
+            p_baseline = parameters(period).gov.states.nj.tax.income.credits.staynj
+            p_reform = parameters(period).gov.contrib.states.nj.stay_nj
+
+            reform_active = p_reform.in_effect
+
+            greater_age = tax_unit("greater_age_head_spouse", period)
+            age_eligible = greater_age >= p_baseline.age_threshold
+
+            gross_income = add(tax_unit, period, ["nj_gross_income"])
+            baseline_income_eligible = gross_income < p_baseline.income_limit
+            reform_income_eligible = gross_income < p_reform.income_limit
+            income_eligible = where(
+                reform_active,
+                reform_income_eligible,
+                baseline_income_eligible,
+            )
+
+            pays_property_taxes = add(tax_unit, period, ["real_estate_taxes"]) > 0
+            pays_rent = tax_unit("rents", period)
+            is_homeowner = pays_property_taxes & ~pays_rent
+
+            return age_eligible & income_eligible & is_homeowner
+
+    class nj_staynj(Variable):
+        value_type = float
+        entity = TaxUnit
+        label = "New Jersey Stay NJ Property Tax Credit"
+        unit = USD
+        definition_period = YEAR
+        reference = (
+            "https://pub.njleg.state.nj.us/Bills/2022/PL23/75_.HTM",
+            "https://www.nj.gov/treasury/taxation/staynj/index.shtml",
+        )
+        defined_for = "nj_staynj_eligible"
+
+        def formula(tax_unit, period, parameters):
+            p_baseline = parameters(period).gov.states.nj.tax.income.credits.staynj
+            p_reform = parameters(period).gov.contrib.states.nj.stay_nj
+
+            reform_active = p_reform.in_effect
+
+            property_taxes = add(tax_unit, period, ["real_estate_taxes"])
+
+            max_benefit = where(
+                reform_active,
+                p_reform.max_benefit,
+                p_baseline.max_benefit,
+            )
+            target_benefit = min_(property_taxes * p_baseline.rate, max_benefit)
+
+            anchor_benefit = tax_unit("nj_anchor", period)
+            senior_freeze = tax_unit("nj_senior_freeze", period)
+
+            return max_(target_benefit - anchor_benefit - senior_freeze, 0)
+
+    class reform(Reform):
+        def apply(self):
+            self.update_variable(nj_staynj_eligible)
+            self.update_variable(nj_staynj)
+
+    return reform
+
+
+def create_nj_stay_nj_reform(parameters, period, bypass: bool = False):
+    if bypass:
+        return create_nj_stay_nj()
+
+    p = parameters.gov.contrib.states.nj.stay_nj
+
+    reform_active = False
+    current_period = period_(period)
+
+    for _ in range(5):
+        if p(current_period).in_effect:
+            reform_active = True
+            break
+        current_period = current_period.offset(1, "year")
+
+    if reform_active:
+        return create_nj_stay_nj()
+    else:
+        return None
+
+
+nj_stay_nj_budget_reform = create_nj_stay_nj_reform(None, None, bypass=True)
diff --git a/policyengine_us/tests/policy/contrib/states/nj/anchor/nj_anchor_budget_reform.yaml b/policyengine_us/tests/policy/contrib/states/nj/anchor/nj_anchor_budget_reform.yaml
new file mode 100644
index 00000000000..95397cc131a
--- /dev/null
+++ b/policyengine_us/tests/policy/contrib/states/nj/anchor/nj_anchor_budget_reform.yaml
@@ -0,0 +1,171 @@
+# ANCHOR Senior Homeowner Bonus Expiry Reform Tests
+# Reform removes $250 senior homeowner bonus that was added for FY2024-FY2026
+# Senior homeowner amounts revert: $1,750 -> $1,500 (lower), $1,250 -> $1,000 (upper)
+# All other amounts (non-senior homeowner, renter) are unchanged
+
+- name: Case 1, senior homeowner lower income gets $1,500 not $1,750.
+  period: 2027
+  absolute_error_margin: 1
+  reforms: policyengine_us.reforms.states.nj.anchor.nj_anchor_reform.nj_anchor_budget_reform
+  input:
+    gov.contrib.states.nj.anchor.in_effect: true
+    people:
+      person1:
+        age: 70
+        employment_income: 100_000
+        real_estate_taxes: 5_000
+        is_tax_unit_head: true
+    tax_units:
+      tax_unit:
+        members: [person1]
+    spm_units:
+      spm_unit:
+        members: [person1]
+        spm_unit_tenure_type: OWNER_WITH_MORTGAGE
+    households:
+      household:
+        members: [person1]
+        state_code: NJ
+  output:
+    # Senior homeowner, income $100K <= $150K (lower tier)
+    # Reform amount: $1,500 (baseline with bonus would be $1,750)
+    nj_anchor: 1_500
+
+- name: Case 2, senior homeowner upper income gets $1,000 not $1,250.
+  period: 2027
+  absolute_error_margin: 1
+  reforms: policyengine_us.reforms.states.nj.anchor.nj_anchor_reform.nj_anchor_budget_reform
+  input:
+    gov.contrib.states.nj.anchor.in_effect: true
+    people:
+      person1:
+        age: 70
+        employment_income: 200_000
+        real_estate_taxes: 5_000
+        is_tax_unit_head: true
+    tax_units:
+      tax_unit:
+        members: [person1]
+    spm_units:
+      spm_unit:
+        members: [person1]
+        spm_unit_tenure_type: OWNER_WITHOUT_MORTGAGE
+    households:
+      household:
+        members: [person1]
+        state_code: NJ
+  output:
+    # Senior homeowner, income $200K > $150K but <= $250K (upper tier)
+    # Reform amount: $1,000 (baseline with bonus would be $1,250)
+    nj_anchor: 1_000
+
+- name: Case 3, senior renter unchanged at $700.
+  period: 2027
+  absolute_error_margin: 1
+  reforms: policyengine_us.reforms.states.nj.anchor.nj_anchor_reform.nj_anchor_budget_reform
+  input:
+    gov.contrib.states.nj.anchor.in_effect: true
+    people:
+      person1:
+        age: 70
+        employment_income: 100_000
+        rent: 18_000
+        is_tax_unit_head: true
+    tax_units:
+      tax_unit:
+        members: [person1]
+    spm_units:
+      spm_unit:
+        members: [person1]
+        spm_unit_tenure_type: RENTER
+    households:
+      household:
+        members: [person1]
+        state_code: NJ
+  output:
+    # Senior renter, income $100K <= $150K
+    # Reform does NOT affect renter amounts - still $700
+    nj_anchor: 700
+
+- name: Case 4, non-senior homeowner lower income unchanged at $1,500.
+  period: 2027
+  absolute_error_margin: 1
+  reforms: policyengine_us.reforms.states.nj.anchor.nj_anchor_reform.nj_anchor_budget_reform
+  input:
+    gov.contrib.states.nj.anchor.in_effect: true
+    people:
+      person1:
+        age: 45
+        employment_income: 100_000
+        real_estate_taxes: 5_000
+        is_tax_unit_head: true
+    tax_units:
+      tax_unit:
+        members: [person1]
+    spm_units:
+      spm_unit:
+        members: [person1]
+        spm_unit_tenure_type: OWNER_WITH_MORTGAGE
+    households:
+      household:
+        members: [person1]
+        state_code: NJ
+  output:
+    # Non-senior homeowner, income $100K <= $150K (lower tier)
+    # Reform does NOT affect non-senior amounts - still $1,500
+    nj_anchor: 1_500
+
+- name: Case 5, non-senior renter unchanged at $450.
+  period: 2027
+  absolute_error_margin: 1
+  reforms: policyengine_us.reforms.states.nj.anchor.nj_anchor_reform.nj_anchor_budget_reform
+  input:
+    gov.contrib.states.nj.anchor.in_effect: true
+    people:
+      person1:
+        age: 45
+        employment_income: 100_000
+        rent: 18_000
+        is_tax_unit_head: true
+    tax_units:
+      tax_unit:
+        members: [person1]
+    spm_units:
+      spm_unit:
+        members: [person1]
+        spm_unit_tenure_type: RENTER
+    households:
+      household:
+        members: [person1]
+        state_code: NJ
+  output:
+    # Non-senior renter, income $100K <= $150K
+    # Reform does NOT affect renter amounts - still $450
+    nj_anchor: 450
+
+- name: Case 6, senior homeowner over income limit is ineligible.
+  period: 2027
+  absolute_error_margin: 1
+  reforms: policyengine_us.reforms.states.nj.anchor.nj_anchor_reform.nj_anchor_budget_reform
+  input:
+    gov.contrib.states.nj.anchor.in_effect: true
+    people:
+      person1:
+        age: 70
+        employment_income: 260_000
+        real_estate_taxes: 5_000
+        is_tax_unit_head: true
+    tax_units:
+      tax_unit:
+        members: [person1]
+    spm_units:
+      spm_unit:
+        members: [person1]
+        spm_unit_tenure_type: OWNER_WITH_MORTGAGE
+    households:
+      household:
+        members: [person1]
+        state_code: NJ
+  output:
+    # Income $260K > $250K homeowner upper limit - ineligible
+    nj_anchor: 0
diff --git a/policyengine_us/tests/policy/contrib/states/nj/stay_nj/nj_stay_nj_budget_reform.yaml b/policyengine_us/tests/policy/contrib/states/nj/stay_nj/nj_stay_nj_budget_reform.yaml
new file mode 100644
index 00000000000..aca9f5ec64c
--- /dev/null
+++ b/policyengine_us/tests/policy/contrib/states/nj/stay_nj/nj_stay_nj_budget_reform.yaml
@@ -0,0 +1,178 @@
+# StayNJ Budget Reform Tests
+# Reform reduces income limit from $500K to $250K and max benefit from $6,500 to $4,000
+# Formula: StayNJ = max(min(property_taxes * 50%, max_benefit) - ANCHOR - Senior_Freeze, 0)
+# Eligibility: age 65+, homeowner, income < $250K (reform limit)
+
+- name: Case 1, eligible senior homeowner under new $250K income limit.
+  period: 2027
+  absolute_error_margin: 1
+  reforms: policyengine_us.reforms.states.nj.stay_nj.nj_stay_nj_reform.nj_stay_nj_budget_reform
+  input:
+    gov.contrib.states.nj.stay_nj.in_effect: true
+    people:
+      person1:
+        age: 70
+        employment_income: 200_000
+        real_estate_taxes: 10_000
+        is_tax_unit_head: true
+    tax_units:
+      tax_unit:
+        members: [person1]
+    spm_units:
+      spm_unit:
+        members: [person1]
+        spm_unit_tenure_type: OWNER_WITH_MORTGAGE
+    households:
+      household:
+        members: [person1]
+        state_code: NJ
+  output:
+    # Income $200K < $250K reform limit - eligible
+    # min($10,000 * 50%, $4,000) = min($5,000, $4,000) = $4,000
+    # ANCHOR = $1,250 (senior homeowner, income $150K-$250K, post-bonus: $1,000)
+    # But ANCHOR reform is NOT active here, so baseline ANCHOR = $1,250
+    # max($4,000 - $1,250 - $0, 0) = $2,750
+    nj_staynj: 2_750
+
+- name: Case 2, ineligible under new $250K limit but would be eligible under baseline $500K.
+  period: 2027
+  absolute_error_margin: 1
+  reforms: policyengine_us.reforms.states.nj.stay_nj.nj_stay_nj_reform.nj_stay_nj_budget_reform
+  input:
+    gov.contrib.states.nj.stay_nj.in_effect: true
+    people:
+      person1:
+        age: 70
+        employment_income: 300_000
+        real_estate_taxes: 15_000
+        is_tax_unit_head: true
+    tax_units:
+      tax_unit:
+        members: [person1]
+    spm_units:
+      spm_unit:
+        members: [person1]
+        spm_unit_tenure_type: OWNER_WITH_MORTGAGE
+    households:
+      household:
+        members: [person1]
+        state_code: NJ
+  output:
+    # Income $300K >= $250K reform limit - ineligible
+    # (Would be eligible under baseline $500K limit)
+    nj_staynj_eligible: false
+    nj_staynj: 0
+
+- name: Case 3, max benefit capped at $4,000 with high property taxes.
+  period: 2027
+  absolute_error_margin: 1
+  reforms: policyengine_us.reforms.states.nj.stay_nj.nj_stay_nj_reform.nj_stay_nj_budget_reform
+  input:
+    gov.contrib.states.nj.stay_nj.in_effect: true
+    people:
+      person1:
+        age: 68
+        employment_income: 100_000
+        real_estate_taxes: 20_000
+        is_tax_unit_head: true
+    tax_units:
+      tax_unit:
+        members: [person1]
+    spm_units:
+      spm_unit:
+        members: [person1]
+        spm_unit_tenure_type: OWNER_WITH_MORTGAGE
+    households:
+      household:
+        members: [person1]
+        state_code: NJ
+  output:
+    # min($20,000 * 50%, $4,000) = min($10,000, $4,000) = $4,000 (capped at reform max)
+    # Baseline max would be $6,500 - reform caps at $4,000
+    # ANCHOR = $1,750 (senior homeowner, income <= $150K)
+    # max($4,000 - $1,750 - $0, 0) = $2,250
+    nj_staynj: 2_250
+
+- name: Case 4, senior renter ineligible for StayNJ.
+  period: 2027
+  absolute_error_margin: 1
+  reforms: policyengine_us.reforms.states.nj.stay_nj.nj_stay_nj_reform.nj_stay_nj_budget_reform
+  input:
+    gov.contrib.states.nj.stay_nj.in_effect: true
+    people:
+      person1:
+        age: 70
+        employment_income: 100_000
+        rent: 18_000
+        is_tax_unit_head: true
+    tax_units:
+      tax_unit:
+        members: [person1]
+    spm_units:
+      spm_unit:
+        members: [person1]
+        spm_unit_tenure_type: RENTER
+    households:
+      household:
+        members: [person1]
+        state_code: NJ
+  output:
+    # Renter - not homeowner - ineligible for StayNJ
+    nj_staynj_eligible: false
+    nj_staynj: 0
+
+- name: Case 5, under-65 homeowner ineligible for StayNJ.
+  period: 2027
+  absolute_error_margin: 1
+  reforms: policyengine_us.reforms.states.nj.stay_nj.nj_stay_nj_reform.nj_stay_nj_budget_reform
+  input:
+    gov.contrib.states.nj.stay_nj.in_effect: true
+    people:
+      person1:
+        age: 60
+        employment_income: 100_000
+        real_estate_taxes: 10_000
+        is_tax_unit_head: true
+    tax_units:
+      tax_unit:
+        members: [person1]
+    spm_units:
+      spm_unit:
+        members: [person1]
+        spm_unit_tenure_type: OWNER_WITH_MORTGAGE
+    households:
+      household:
+        members: [person1]
+        state_code: NJ
+  output:
+    # Age 60 < 65 - ineligible for StayNJ
+    nj_staynj_eligible: false
+    nj_staynj: 0
+
+- name: Case 6, income exactly at $250K reform threshold is ineligible.
+  period: 2027
+  absolute_error_margin: 1
+  reforms: policyengine_us.reforms.states.nj.stay_nj.nj_stay_nj_reform.nj_stay_nj_budget_reform
+  input:
+    gov.contrib.states.nj.stay_nj.in_effect: true
+    people:
+      person1:
+        age: 70
+        employment_income: 250_000
+        real_estate_taxes: 10_000
+        is_tax_unit_head: true
+    tax_units:
+      tax_unit:
+        members: [person1]
+    spm_units:
+      spm_unit:
+        members: [person1]
+        spm_unit_tenure_type: OWNER_WITH_MORTGAGE
+    households:
+      household:
+        members: [person1]
+        state_code: NJ
+  output:
+    # Income $250K NOT < $250K (strict less than) - ineligible under reform
+    nj_staynj_eligible: false
+    nj_staynj: 0