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NJ A4702
Bill
Status
6/28/2024
Primary Sponsor
Eliana Marin
Click for details
AI Summary
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Phases out the sales tax exemption for zero-emission vehicles: full exemption ends October 1, 2024, reduced rate of 3.3125% applies from October 1, 2024 through June 30, 2025, and standard sales tax rate applies to sales on or after July 1, 2025
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Requires motor vehicle franchisors and franchisees to report annually to the Division of Taxation the number of zero-emission vehicles sold and sales tax amounts remitted
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Repeals P.L.2022, c.21, which established the annual sales tax holiday for school supplies and sport or recreational equipment
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Takes effect immediately upon approval (approved June 28, 2024)
Legislative Description
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.
Bills and Joint Resolutions Signed by the Governor
Last Action
Approved P.L.2024, c.19.
6/28/2024