Bill
Bill > S369
NJ S369
NJ S369Provides for reduced sales tax imposition on certain sales in certain Highlands Region Preservation Area municipalities.
summary
Introduced
01/09/2024
01/09/2024
In Committee
01/09/2024
01/09/2024
Crossed Over
Passed
Dead
01/12/2026
01/12/2026
Introduced Session
2024-2025 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 on certain retail sales made within municipalities that are 99% or more located within the Highlands Region preservation area in New Jersey. The exemption applies to sales of items other than motor vehicles, alcoholic beverages, digital products, and cigarettes. The purpose of this exemption is to help maintain the economic vitality of these municipalities that have been seriously impacted by the Highlands Region preservation designation, which has undermined their economic base and retail establishments.
Committee Categories
Budget and Finance
Sponsors (1)
Last Action
Introduced in the Senate, Referred to Senate Budget and Appropriations Committee (on 01/09/2024)
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/2024/S369 |
| BillText | https://pub.njleg.gov/Bills/2024/S0500/369_I1.HTM |
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