Bill Text: NJ A4702 | 2024-2025 | Regular Session | Chaptered

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Bill Title: Phases out sales and use tax exemption on zero emission vehicles; repeals annual sales tax holiday for certain school supplies and sport or recreational equipment.

Spectrum: Partisan Bill (Democrat 5-0)

Status: (Passed) 2024-06-28 - Approved P.L.2024, c.19. [A4702 Detail]

Download: New_Jersey-2024-A4702-Chaptered.html

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CHAPTER 19

 

An Act concerning sales and use tax exemptions, amending P.L.2003, c.266 and P.L.2015, c.24, and repealing P.L.2022, c.21.

 

     Be It Enacted by the Senate and General Assembly of the State of New Jersey:

 

     1.    Section 11 of P.L.2003, c.266 (C.54:32B-8.55) is amended to read as follows:

 

C.54:32B-8.55  Sales tax, zero-emission vehicles.

     11.  a. (1) Receipts from sales of zero-emission vehicles sold on or after the first day of the fourth month following the effective date of P.L.2003, c.266 (C.26:2C-8.15 et al.) and before October 1, 2024 are exempt from the tax imposed under the "Sales and Use Tax Act," P.L.1966, c.30 (C.54:32B-1 et seq.);

     (2)   There is imposed and there shall be paid a tax of 3.3125 percent on the receipts from sales of zero-emission vehicles sold on or after October 1, 2024 but before July 1, 2025; and

     (3)   There is imposed and there shall be paid a tax at the rate set forth in section 3 of P.L.1966, c.30 (C.54:32B-3) on the receipts from sales of zero-emission vehicles sold on or after July 1, 2025.

     b.    The Commissioner of Environmental Protection shall certify to the State Treasurer the make and model of those motor vehicles that are zero-emission vehicles and eligible for the exemption provided pursuant to subsection a. of this section.

     c.     As used in this section, "zero-emission vehicle" means a vehicle certified as a zero-emission vehicle pursuant to the California Air Resources Board zero-emission vehicle standards for the applicable model year, but shall not include any other type of vehicle that may be delivered by a manufacturer for sale or lease to satisfy the zero-emission vehicle requirement established by the California Air Resources Board in lieu of a vehicle that qualifies as a pure zero-emission vehicle.

 

     2.    Section 7 of P.L.2015, c.24 (C.54:32B-8.55a) is amended to read as follows:

 

C.54:32B-8.55a  Report of number of zero-emission vehicles sold.

     7.    Before March 1 annually, all motor vehicle franchisors and motor vehicle franchisees in the State, as defined pursuant to section 1 of P.L.1985, c.361 (C.56:10-26), shall report to the Division of Taxation the number of zero-emission vehicles sold in the State each calendar year and the amounts remitted from the tax imposed under the "Sales and Use Tax Act," P.L.1966, c.30 (C.54:32B-1 et seq.) on such vehicles.

 

Repealer.

     3.    P.L.2022, c.21 (C.54:32B-8.21a and C.54:32B-8.21b) is repealed.

 

     4.    This act shall take effect immediately.

 

     Approved June 28, 2024.