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NJ S2133
Bill
Status
Introduced
1/9/2024
Primary Sponsor
Holly Schepisi
Click for details
AI Summary
- Imposes an annual registration fee of $300 for passenger electric vehicles and $450 for commercial electric vehicles, effective July 1, 2025, with revenues deposited into New Jersey's Transportation Trust Fund
- Reduces the Motor Fuel Tax on gasoline from 10.5 cents to 7 cents per gallon and on diesel from 13.5 cents to 9 cents per gallon, representing a 33% reduction
- Reduces the Petroleum Products Gross Receipts Tax revenue target by 33% and permanently extends the annual rate adjustment mechanism that was set to expire after State Fiscal Year 2026
- Requires the state to appropriate Sales and Use Tax revenues from the General Fund to cover any Transportation Trust Fund Authority debt service obligations not met by other dedicated resources
- Mandates the Department of Transportation conduct a feasibility study by August 31, 2026, analyzing alternative revenue sources for the Transportation Trust Fund, including mileage-based user fees, carbon taxes, and electricity taxes on EV charging
Legislative Description
Establishes legislative internship program; makes appropriation.
State Government, Wagering, Tourism & Historic Preservation
Last Action
Introduced in the Senate, Referred to Senate State Government, Wagering, Tourism & Historic Preservation Committee
1/9/2024
Committee Referrals
State Government, Wagering, Tourism & Historic Preservation1/9/2024
Full Bill Text
No bill text available