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Bill > S107
NJ S107
NJ S107Provides for reduced sales tax imposition on certain sales in certain Highlands Region Preservation Area municipalities.
summary
Introduced
01/12/2016
01/12/2016
In Committee
01/12/2016
01/12/2016
Crossed Over
Passed
Dead
01/08/2018
01/08/2018
Introduced Session
2016-2017 Regular Session
Bill Summary
This bill would provide a 50% sales and use tax exemption in any municipality 99% or more of the area of which is located within the Highlands Region preservation area. Because of the State designation of the Highlands Region preservation area, the economic vitality of municipalities that are entirely or almost entirely slated for preservation is seriously undermined. This sales tax exemption should result in maintaining the local economic base, preserve retail establishments and retain jobs in these municipalities.
AI Summary
This bill provides for a 50% sales and use tax exemption on retail sales, excluding motor vehicles, alcoholic beverages, digital products, and cigarettes, made by businesses located in municipalities where 99% or more of the area is within the Highlands Region preservation area. The Highlands Region is a designated preservation area in New Jersey, and this sales tax exemption aims to maintain the economic vitality of these municipalities, preserve retail establishments, and retain jobs in these areas.
Committee Categories
Agriculture and Natural Resources
Sponsors (3)
Last Action
Introduced in the Senate, Referred to Senate Environment and Energy Committee (on 01/12/2016)
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| BillText | https://www.njleg.state.nj.us/2016/Bills/S0500/107_I1.HTM |
| Bill | https://www.njleg.state.nj.us/2016/Bills/S0500/107_I1.PDF |
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