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NJ S4494
NJ S4494Requires all revenue generated by casino hotel parking fee to be provided to CRDA; expands permitted uses of parking fee revenues by CRDA.
summary
Introduced
05/22/2025
05/22/2025
In Committee
12/01/2025
12/01/2025
Crossed Over
Passed
Dead
01/12/2026
01/12/2026
Introduced Session
2024-2025 Regular Session
Bill Summary
This bill requires the full amount of revenue generated by the casino hotel parking fee to be made available to the Casino Reinvestment Development Authority (CRDA) for projects located within the boundaries of the City of Atlantic City. Current law requires casino licensees to charge and collect a fee of $3.00 per day for the use of a parking space at a casino hotel facility. Of that amount, the revenue derived from $2.50 of the parking fee is deposited into a special fund held by the State Treasurer and made available for the use of the CRDA for eligible public improvements and economic development and redevelopment projects within the corridor region of the City of Atlantic City. The revenue derived from the remaining $0.50 of the parking fee is deposited into the Casino Revenue Fund. The Casino Revenue Fund accounts for the taxes imposed on casinos, internet gaming, sports betting, and other related activities. Moneys in the Casino Revenue Fund are required to be appropriated to support reductions in property taxes, utility charges, and other specified expenses of eligible senior citizens and individuals with disabilities. Under the bill, the revenue derived from $0.50 of the parking fee currently deposited into the Casino Revenue Fund would instead be deposited into the special fund held by the State Treasurer and made available for the use of the CRDA beginning in State fiscal year 2026. Revenues from the parking fee would no longer be deposited into the Casino Revenue Fund. The bill also amends current law to provide that parking fee revenues deposited into the special fund would be available for use by the CRDA for any projects located within the boundaries of the City of Atlantic City, or for other statutory purposes of the authority, as approved by the CRDA. The CRDA would no longer be required to use the moneys in the special fund for projects located only within the corridor region of Atlantic City.
AI Summary
This bill requires the entire $3.00 daily parking fee collected at casino hotels in Atlantic City to be deposited into a special fund managed by the State Treasurer and made available to the Casino Reinvestment Development Authority (CRDA), instead of the current arrangement where $2.50 goes to the special fund and $0.50 goes to the Casino Revenue Fund. Beginning in State fiscal year 2026, all parking fee revenues will be directed to the special fund, giving the CRDA more flexibility in how these funds can be used. Previously, the funds were limited to projects within the "corridor region" of Atlantic City, but now the CRDA can use the parking fee revenues for any projects within Atlantic City's boundaries or for other statutory purposes of the authority. The bill's legislative findings emphasize that the parking fee is intended to support the continued development and improvement of Atlantic City by providing a dedicated funding source for infrastructure, economic development, and redevelopment projects. This change aims to give the CRDA greater autonomy in addressing the city's needs and supporting its ongoing transformation.
Committee Categories
Budget and Finance, Government Affairs
Sponsors (1)
Last Action
Referred to Senate Budget and Appropriations Committee (on 12/01/2025)
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/S4494 |
| Analysis - Statement SSG 12/1/2025 | https://pub.njleg.gov/Bills/2024/S4500/4494_S1.PDF |
| BillText | https://pub.njleg.gov/Bills/2024/S4500/4494_I1.HTM |
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