A 743 New Jersey General Assembly · 2024-2025 Regular Session

Excludes passenger and freight rail projects from purposes for which revenue from increase in petroleum products gross receipts tax revenue may be used.

This bill prohibits New Jersey from using revenue generated by the 2016 increase in the petroleum products gross receipts tax for passenger rail or freight rail projects. It amends state law to explicitly exclude these rail projects from the list of eligible uses for this tax revenue. As a result, funds collected from this tax cannot be allocated toward rail infrastructure improvements, such as new tracks, stations, or equipment for either passenger or freight rail service. The change directly affects how the state funds transportation projects, ensuring this specific tax revenue supports other transportation priorities instead.
Bill status in committee 1 of 4 stages cleared
Introduction
Jan 2024
Committee Review
Floor Vote
Governor
Introduced Jan 9, 2024 Last action Jan 9, 2024
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Jan 9, 2024
Introduced
Introduced in the Assembly, Referred to Assembly Transportation and Independent Authorities Committee
lower
1 primary · 0 co-sponsors

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Role
Legislator
Party
State
District
P
Photo of Greg McGuckin
Greg McGuckin
RRepublican
NJ
10