Eliminates the corporate transit fee.
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Progress
Where this bill stands in the legislative process.
- Introduced
- Passed General Assembly
- Passed Senate
- To Governor
- Became Law
Overview
This bill would eliminate the Corporate Transit Fee, a 2.5% surcharge on the business tax paid by corporations with significant income in New Jersey. Currently, this fee generates revenue for New Jersey Transit to support operations and federal funding for capital projects. The bill repeals a previous law establishing the fee and would take effect immediately upon passage. It would remove this financial burden from corporations subject to the tax.
Bill text
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Document of record
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Sponsors
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7 on record
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Cosponsors
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