S 475 New Jersey Senate · 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 amends New Jersey law to prohibit using revenue from increased petroleum products gross receipts tax for passenger or freight rail projects. It directly affects how transportation funding is allocated, ensuring that tax revenue from petroleum sales cannot support rail infrastructure. The key mechanism is an explicit exclusion added to existing funding rules, preventing the use of this specific tax stream for rail-related transportation projects. The bill does not create new funding but restricts existing tax revenue from being applied to rail initiatives.
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 Senate, Referred to Senate Transportation Committee
upper
1 primary · 0 co-sponsors

Sponsors

Role
Legislator
Party
State
District
P
Photo of Jim Holzapfel
Jim Holzapfel
RRepublican
NJ
10