ASSEMBLY, No. 3869

STATE OF NEW JERSEY

218th LEGISLATURE

 

INTRODUCED MAY 7, 2018

 


 

Sponsored by:

Assemblyman  BOB ANDRZEJCZAK

District 1 (Atlantic, Cape May and Cumberland)

Assemblyman  R. BRUCE LAND

District 1 (Atlantic, Cape May and Cumberland)

 

 

 

 

SYNOPSIS

     Provides funding from the General Fund to the Greater Wildwoods Tourism Improvement and Development Authority.

 

CURRENT VERSION OF TEXT

     As introduced.

  


An Act providing funding from the General Fund to the Greater Wildwoods Tourism Improvement and Development Authority, supplementing P.L.1992, c.165 (C.40:54D-1 et seq.).

 

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

 

     1.    There shall be appropriated annually from the General Fund to the Greater Wildwoods Tourism Improvement and Development Authority established pursuant to section 18 of P.L.1992, c.165 (C.40:54D-18), in addition to the amounts collected by the director from within the municipalities of the authority from the tax on predominantly tourism related retail receipts pursuant to subsection b. of section 6 of P.L.1992, c.165 (C. 40:54D-6) in the current year, an amount equal to the amount of revenues collected by the director from within the municipalities of the authority from the tax on predominantly tourism related retail receipts pursuant to subsection b. of section 6 of P.L.1992, c.165 (C. 40:54D-6) in the prior year, to be applied as set forth by section 21 of P.L.1992, c.165 (C.40:54D-21).

 

     2.    This act shall take effect immediately and apply years beginning after its date of enactment.

 

 

STATEMENT

 

     This bill provides infrastructure funding critical to the continuing expansion and development of tourism opportunities in Cape May County.

     It is almost twenty-five years since the Wildwoods joined together to establish the Greater Wildwoods Tourism Improvement and Development Authority and harness the tourism economy of those municipalities.  Using local sources of funding, the Authority operates and markets the Wildwoods Convention Center, advertises and promotes the Wildwoods as a family vacation destination, and funds and assists special events.

     The 9 million annual tourist visits to the Wildwoods yield more than $1.5 billion in visitor spending, which continues to expand at a rate of five percent a year.  Wildwoods businesses collected $33 million in State and local sales taxes in 2015: the time has come to reinvest some of these tax receipts back into tourism amenities.

     This bill proposes to annually appropriate an additional amount, equal to the amount currently collected in the Wildwoods as a local sales tax surcharge on tourism expenses, for the use by the authority to enhance the attractiveness of the district to visitors.  This will allow the authority to reconstruct the boardwalk, renovate pedestrian access in the area of the convention center, renew the tramcar system, and establish an island-wide dedicated bicycle riding path.