New Jersey S1734 proposes a temporary reduction or suspension of taxes on highway fuels based on the average retail price of unleaded regular.
New Jersey S1734 provides for temporary reductions or suspensions of the State tax on highway fuels based on the average retail price of unleaded regular gasoline. The bill would apply during the three-month period of June 2022 through August 2022. The tax rates would be adjusted as follows: no reduction if the average price is less than $4.50, a 50% reduction if the price is between $4.51 and $5.00, a 75% reduction if the price is between $5.01 and $5.50, and no tax if the price exceeds $5.50.
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- Overview
- Core Provisions
- Implementation
- Impact
- Legal Framework
- Critical Issues
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