Sponsored by:
Assemblyman JOHN S. WISNIEWSKI
District 19 (Middlesex)
Assemblyman LOUIS M. MANZO
District 31 (Hudson)
Assemblyman ROBERT M. GORDON
District 38 (Bergen)
Co-Sponsored by:
Assemblyman Giblin
SYNOPSIS
Exempts sales of certain fuel efficient motor vehicles from sales and use taxes.
CURRENT VERSION OF TEXT
As introduced.
An Act exempting certain motor vehicles from sales and use taxes and supplementing P.L.1966, c.30.
Be It Enacted by the Senate and General Assembly of the State of New Jersey:
1. a. Retail sales of fuel efficient motor vehicles are exempt from the taxes imposed under the "Sales and Use Tax Act," P.L.1966, c.30 (C.54:32B‑1 et seq.).
b. For the purpose of this section:
"Average MPG" means the average of the City MPG and the Highway MPG fuel efficiency estimates provided by automobile manufacturers and printed on the fuel economy label affixed to a window on the new motor vehicle, pursuant to 40 CFR 600.301-86 et seq.
"Fuel Efficient" means having an average MPG of 150% or more of the corporate average fuel economy standards, as established in chapter 329 of Title 49 of the United States Code (49 U.S.C. s.32101 et seq.).
"Motor vehicle" means a vehicle as defined in R.S.39:1‑1 and which is required to be registered with the Division of Motor Vehicles.
2. This act shall take effect on the first day of the second month following enactment.
STATEMENT
This bill exempts retail sales of motor vehicles with an average MPG of 150% or more of the corporate average fuel economy standards, as established in chapter 329 of Title 49 of the United States Code (49 U.S.C. s.32101 et seq.) from the taxes imposed under the "Sales and Use Tax Act," P.L.1966, c.30 (C.54:32B‑1 et seq.).