Bill
Bill > S925
NJ S925
NJ S925Provides for reduced sales tax imposition on certain sales in certain Highlands Region Preservation Area municipalities.
summary
Introduced
01/27/2020
01/27/2020
In Committee
01/27/2020
01/27/2020
Crossed Over
Passed
Dead
01/11/2022
01/11/2022
Introduced Session
2020-2021 Regular Session
Bill Summary
This bill would provide a 50% sales and use tax exemption in any municipality 99% or more of the area of which is located within the Highlands Region preservation area. Because of the State designation of the Highlands Region preservation area, the economic vitality of municipalities that are entirely or almost entirely slated for preservation is seriously undermined. This sales tax exemption should result in maintaining the local economic base, preserve retail establishments and retain jobs in these municipalities.
AI Summary
This bill provides a 50% sales and use tax exemption for retail sales, except for motor vehicles, alcoholic beverages, digital products, and cigarettes, made by businesses located in municipalities where 99% or more of the area is within the Highlands Region preservation area. This is intended to maintain the economic vitality of these municipalities, which have been seriously undermined by the State's designation of the Highlands Region preservation area, by preserving retail establishments and jobs in these areas.
Committee Categories
Budget and Finance
Sponsors (1)
Last Action
Introduced in the Senate, Referred to Senate Budget and Appropriations Committee (on 01/27/2020)
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| BillText | https://www.njleg.state.nj.us/2020/Bills/S1000/925_I1.HTM |
| Bill | https://www.njleg.state.nj.us/2020/Bills/S1000/925_I1.PDF |
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