SENATE, No. 1561

STATE OF NEW JERSEY

215th LEGISLATURE

 

INTRODUCED FEBRUARY 9, 2012

 


 

Sponsored by:

Senator  JIM WHELAN

District 2 (Atlantic)

 

 

 

 

SYNOPSIS

     Exempts from sales and use tax the sale of materials and equipment used in the manufacture of wind energy components.

 

CURRENT VERSION OF TEXT

     As introduced.

  


An Act exempting certain wind energy components from the sales and use tax, and supplementing P.L.1966, c.30 (C.54:32B-1 et seq.).

 

     Be It Enacted by the Senate and General Assembly of the State of New Jersey:

 

     1.    Receipts from the sales of materials and equipment used in the manufacture of wind energy components are exempt from the tax imposed under the “Sales and Use Tax Act,” P.L.1966, c.30 (C.54:32B-1 et seq.).  For the purposes of this section, “wind energy components” means wind turbine components and other parts used to convert energy from wind to produce electricity.

 

     2.    The Board of Public Utilities shall adopt, pursuant to the “Administrative Procedure Act,” P.L.1968, c.410 (C.52:14B-1 et seq.) and within six months after the date of enactment of this act, rules and regulations defining the types of materials and equipment that may qualify for the exemption established pursuant to section 1 of this act.

 

     3.    This act shall take effect immediately except that section 1 shall take effect on the first day of the second month after adoption of the rules and regulations required pursuant to section 2 of this act.

 

 

STATEMENT

 

     This bill would exempt from the sales and use tax the sale of materials and equipment used in the manufacture of wind energy components.  As defined in the bill, “wind energy components” means wind turbine components and other parts used to convert energy from wind to produce electricity.

     The exemption in the bill would help the New Jersey boat building industry transition and expand into building wind energy components.