Bill
Bill > S223
NJ S223
NJ S223Provides for reduced sales tax imposition on certain sales in certain Highlands Region Preservation Area municipalities.
summary
Introduced
01/11/2022
01/11/2022
In Committee
01/11/2022
01/11/2022
Crossed Over
Passed
Dead
01/08/2024
01/08/2024
Introduced Session
2022-2023 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, excluding motor vehicles, alcoholic beverages, digital products, and cigarettes, made by a seller from a place of business located within a municipality that is 99% or more located within the Highlands Region preservation area. The purpose of this tax exemption is to maintain the local economic base, preserve retail establishments, and retain jobs in these municipalities, which have been economically impacted by the State's designation of the Highlands Region as a preservation area.
Committee Categories
Budget and Finance
Sponsors (1)
Last Action
Introduced in the Senate, Referred to Senate Budget and Appropriations Committee (on 01/11/2022)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://www.njleg.state.nj.us/bill-search/2022/S223 |
| BillText | https://pub.njleg.gov/Bills/2022/S0500/223_I1.HTM |
| Bill | https://pub.njleg.gov/Bills/2022/S0500/223_I1.PDF |
| BillText | https://www.njleg.state.nj.us/Bills/2022/S0500/223_I1.HTM |
| Bill | https://www.njleg.state.nj.us/Bills/2022/S0500/223_I1.PDF |
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