Imposes temporary surtax on taxpayers that receive certain tariff refunds; dedicates surtax revenues towards consumer price relief.
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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 a temporary five-year surtax on New Jersey businesses that receive certain tariff refunds. The revenue generated from this surtax will be dedicated to providing consumer price relief, specifically through grants to small businesses and rebates for low- and moderate-income households. The surtax would be 90% of the apportioned tariff refunds received by the taxpayer. The bill also establishes a dedicated fund for these purposes and outlines the process for administering the surtax.
Bill text
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