Eliminates the corporate transit fee.

This bill eliminates a 2.5% surtax called the "Corporate Transit Fee" that applied to corporations with New Jersey taxable income exceeding $10 million during 2024-2028. It directly affects large corporations meeting this income threshold, removing their obligation to pay this fee for all future privilege periods after enactment. The bill repeals the existing law (P.L.2024, c.20) that required the fee and mandated its revenue fund New Jersey Transit's operating costs and capital projects. Effective immediately upon enactment, qualifying corporations will no longer pay this surtax.