Bill > A2070

Introduced Session

This bill would clarify the process for appropriating revenue under the State Urban Enterprise Zone (UEZ) Program for use within the UEZs. The bill is designed to overcome administrative issues identified during attempts to implement provisions of a recent amendment (P.L.2021, c.197) to the "New Jersey Urban Enterprise Zones Act," (NJUEZA) P.L.1983, c.303 (C.52:27H-60 et seq.). Specifically, this bill would:· provide that revenues collected in UEZs from retail sales subject to the 50% sales tax exemption would be deposited in the Zone Assistance Fund (ZAF);· modify NJUEZA language to provide that UEZ revenue will flow directly to the ZAF;· resolve issues encountered due to a provision of the FY2022 Appropriations Act, and appropriate $82.5 million to the ZAF;· provide that sales of medical and recreational cannabis, and related supplies, are excluded from the term "retail sales" as used in the NJUEZA and, similar to alcoholic beverages and other goods and services, would not be eligible for a reduction in sales tax under the NJUEZA; and· make certain technical changes.

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Eliana Pintor Marin (D)*, 

Withdrawn Because Approved P.L.2023, c.282. (on 01/09/2024)

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