Repeals $100,000 cap on sales tax exemption for capital improvements by businesses in Urban Enterprise Zone program.

This bill repeals the $100,000 cap on the sales tax exemption for certain capital improvements made by businesses participating in New Jersey's Urban Enterprise Zone program. The exemption applies to retail sales of materials, supplies, and services for erecting structures or buildings, or improving, altering, or repairing real property. The exemption is available retroactively to sales and uses on and after January 1, 2022.

Repeals $100,000 cap on sales tax exemption for capital improvements by businesses in Urban Enterprise Zone program.

This bill repeals the $100,000 cap on the sales tax exemption for certain capital improvements made by businesses participating in New Jersey's Urban Enterprise Zone program. The exemption applies to retail sales of materials, supplies, and services for erecting structures or buildings, or improving, altering, or repairing real property. The exemption is available retroactively to sales and uses on and after January 1, 2022.