Clarifies the local taxation of business personal property of local exchange telephone companies in New Jersey.

This bill amends the definition of "local exchange telephone company" to require that such a company must have held the regional monopoly on landline service before the market was opened to competitive local exchange carriers by the federal Telecommunications Act of 1996, or be the corporate successor of such a company. It aims to ensure that these companies pay business personal property taxes on their equipment, utility poles, cables, and other business personal property in any municipality where it is located.

Clarifies the local taxation of business personal property of local exchange telephone companies in New Jersey.

This bill amends the definition of "local exchange telephone company" to require that such a company must have held the regional monopoly on landline service before the market was opened to competitive local exchange carriers by the federal Telecommunications Act of 1996, or be the corporate successor of such a company. It aims to ensure that these companies pay business personal property taxes on their equipment, utility poles, cables, and other business personal property in any municipality where it is located.