NJ A4860

Holders of seasonal retail consumption liquor licenses (valid May 1-November 14 or November 15-April 30) may exchange their license for a full-year plenary retail consumption license by surrendering it to the issuing authority within 24 months of the bill's effective date

The conversion fee equals 43% of the average sales price of plenary retail consumption licenses sold in the municipality during the two years preceding the bill's effective date

If fewer than three licenses were sold in the municipality during the preceding two or five years, if the sales price cannot be determined due to bulk sales, or if the municipality has fewer than five plenary licenses, the conversion fee defaults to $350,000

Municipal governing bodies must affirmatively approve the license conversion, and converted license holders gain the same privileges as other plenary retail consumption license holders, including year-round sales during the same days and hours

Conversion fees are paid to the municipality where the licensed premises is located, with fees split equally if the premises spans multiple municipalities; annual plenary license fees also apply