Bill > S4614

This bill amends New Jersey motor vehicle licensing laws to allow certain motor vehicle franchisors (companies that manufacture, assemble, distribute, or import at least 10 new vehicles per year) to sell, lease, or assign vehicles to their own employees or employees of affiliated companies. Specifically, the bill creates a new type of dealer license designated with the letter "M" that enables these franchisors to provide vehicles to employees for personal use, with some key restrictions. The license does not permit retail sales to the general public and is limited to selling or leasing vehicles to the franchisor's employees, with each sale requiring proof of employment that must be kept on file for four years. The bill allows up to 50 vehicles to be used for promotional, testing, marketing, or product familiarity purposes, and these vehicles can receive standard license plates. Franchisors with this license can also use manufacturer's license plates in their business operations. The new license will be effective immediately upon the expiration of the franchisor's most recently renewed dealer license, providing a seamless transition for motor vehicle manufacturers looking to offer vehicles to their workforce.

Transportation and Infrastructure

https://www.njleg.state.nj.us/bill-search/2024/S4614