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Bill > S1484
NJ S1484
NJ S1484Exempts receipts from sales of materials, supplies, and services for certain affordable housing projects from sales and use tax.
summary
Introduced
01/09/2024
01/09/2024
In Committee
03/11/2024
03/11/2024
Crossed Over
Passed
Dead
Introduced Session
2024-2025 Regular Session
Bill Summary
Exempts receipts from sales of materials, supplies, and services for certain affordable housing projects from sales and use tax.
AI Summary
This bill exempts receipts from sales of materials, supplies, and services for certain affordable housing projects from the sales and use tax in New Jersey. Specifically, it exempts housing sponsors engaged in affordable housing projects where all the units are restricted for occupants with moderate, low, or very low incomes, as defined in the state's Fair Housing Act. The bill also specifies that this exemption applies to sales made on or after the effective date, which is the first day of the second month following the date of enactment.
Committee Categories
Budget and Finance, Housing and Urban Affairs
Sponsors (3)
Last Action
Substituted by A1495 (2R) (on 03/18/2024)
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/S1484 |
| Fiscal Note - Fiscal Estimate 3/21/24; 2R | https://pub.njleg.gov/Bills/2024/S1500/1484_E2.PDF |
| BillText | https://pub.njleg.gov/Bills/2024/S1500/1484_R2.HTM |
| Analysis - Statement SBA 3/11/24 1R | https://pub.njleg.gov/Bills/2024/S1500/1484_S2.PDF |
| Fiscal Note - Fiscal Estimate 2/6/24; 1R | https://pub.njleg.gov/Bills/2024/S1500/1484_E1.PDF |
| BillText | https://pub.njleg.gov/Bills/2024/S1500/1484_R1.HTM |
| Analysis - Statement SCU 1/25/24 | https://pub.njleg.gov/Bills/2024/S1500/1484_S1.PDF |
| BillText | https://pub.njleg.gov/Bills/2024/S1500/1484_I1.HTM |
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