SENATE LEGISLATIVE OVERSIGHT COMMITTEE

STATEMENT TO

SENATE RESOLUTION No. 33

STATE OF NEW JERSEY

DATED: MAY 2, 1996

      The Senate Legislative Oversight Committee favorably reports Senate Resolution No. 33.

      This resolution would urge the Senate Legislative Oversight Committee to undertake a thorough examination of State regulations concerning the application of the "Sales and Use Tax Act" to the sale, rental or leasing of tangible personal property used directly and elusively in the production for sale of tangible personal property on farms, and the enforcement of these regulations.