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Bill > S475
NJ S475
NJ S475Excludes passenger and freight rail projects from purposes for which revenue from increase in petroleum products gross receipts tax revenue may be used.
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 amends existing law to exclude passenger and freight rail projects from being funded by the petroleum products gross receipts tax increase enacted on October 14, 2016.
AI Summary
This bill amends existing law to prevent revenue generated from an increase in the petroleum products gross receipts tax, which was enacted on October 14, 2016, from being used to fund passenger or freight rail projects. The petroleum products gross receipts tax is a tax on the revenue businesses receive from selling petroleum products, and this bill specifically targets the additional revenue collected from a tax rate increase on these products, ensuring it cannot be allocated to rail transportation initiatives.
Committee Categories
Transportation and Infrastructure
Sponsors (1)
Last Action
Introduced in the Senate, Referred to Senate Transportation 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/S475 |
| BillText | https://pub.njleg.gov/Bills/2026/S0500/475_I1.HTM |
| BillText | https://pub.njleg.gov/Bills/2024/S0500/475_I1.HTM |
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