Bill Text: NJ S223 | 2022-2023 | Regular Session | Introduced
Bill Title: Provides for reduced sales tax imposition on certain sales in certain Highlands Region Preservation Area municipalities.
Spectrum: Partisan Bill (Republican 1-0)
Status: (Introduced - Dead) 2022-01-11 - Introduced in the Senate, Referred to Senate Budget and Appropriations Committee [S223 Detail]
Download: New_Jersey-2022-S223-Introduced.html
STATE OF NEW JERSEY
220th LEGISLATURE
PRE-FILED FOR INTRODUCTION IN THE 2022 SESSION
Sponsored by:
Senator JOSEPH PENNACCHIO
District 26 (Essex, Morris and Passaic)
SYNOPSIS
Provides for reduced sales tax imposition on certain sales in certain Highlands Region Preservation Area municipalities.
CURRENT VERSION OF TEXT
Introduced Pending Technical Review by Legislative Counsel.
An Act concerning the rate of taxation under the sales and use tax in certain municipalities, and supplementing P.L.1966, c.30.
Be It Enacted by the Senate and General Assembly of the State of New Jersey:
1. Receipts of retail sales, except retail sales of motor vehicles, of alcoholic beverages, of digital products, and of cigarettes as defined in the "Cigarette Tax Act," P.L.1948, c.65 (C.54:40A-1 et seq.), made by a seller from a place of business located within a municipality, 99% or more of the area of which is located within the preservation area of the Highlands Region, as described in section 7 of P.L.2004, c.120 (C.13:20-7), are exempt to the extent of 50% of the tax imposed under the "Sales and Use Tax Act," P.L.1966, c.30 (C.54:32B-1 et seq.).
For the purposes of this section, "place of business" means a store regularly operated by the seller for the purpose of making retail sales at which items are regularly exhibited and offered for retail sale and which is not utilized primarily for the purpose of catalogue or mail order sales.
2. This act shall take effect on the first day of the fourth month next following the date of enactment.
STATEMENT
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.
