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NJ S2517
Bill
Status
1/13/2026
Primary Sponsor
Declan O'Scanlon
Click for details
AI Summary
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Requires automatic reduction in New Jersey's Petroleum Products Gross Receipts Tax (gas tax) on a cents-per-gallon basis if the Legislature increases the state sales and use tax rate
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The Legislative Budget and Finance Officer must provide a fiscal estimate within 7 days of any legislative action that raises sales tax rates, calculating anticipated new revenue based on the prior fiscal year
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Director of the Division of Taxation may contest the fiscal estimate within 7 days, requiring the Legislative Budget and Finance Officer to reconsider using Treasury-provided data
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Gas tax reduction takes effect on the first day of the second month following certification, with the reduction amount equal to the projected increase in sales tax revenue
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Any revenue generated from sales and use tax increases must be annually appropriated to the Transportation Trust Fund Account
Legislative Description
Requires Petroleum Products Gross Receipts Tax rate reduction if certain Legislative action is taken that includes increases in other State tax rates and revenue; dedicates revenues from certain sales and use tax increases to "Transportation Trust Fund Account."
Transportation
Last Action
Introduced in the Senate, Referred to Senate Transportation Committee
1/13/2026