Repeals $100,000 cap on sales and use tax exemption for certain capital improvements made by businesses participating in Urban Enterprise Zone program.

This bill repeals a $100,000 cap on sales and use tax exemptions for businesses in New Jersey's Urban Enterprise Zone (UEZ) program. It removes the limit on tax exemptions for materials, supplies, and services used for major renovations, new construction, or substantial improvements to business properties. The change applies retroactively to January 1, 2022, meaning businesses participating in the UEZ program can now claim full tax exemptions for eligible capital improvements without the previous dollar cap.