Imposes additional annual registration fee for electric vehicles; reduces rate of highway fuel taxes; authorizes DOT to conduct alternative revenue feasibility study.
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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 proposes to increase transportation funding in New Jersey by imposing an additional annual registration fee on electric vehicles, ranging from $300 to $450 depending on the vehicle type. It also reduces the state’s tax on highway fuels, specifically gasoline and diesel, by 33%, and authorizes the Department of Transportation to conduct a study on alternative revenue sources for the Transportation Trust Fund. The collected fees would be deposited into the TTF, and the department would report its findings to the Governor and the Legislature.
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