S.3708

Provides 50 percent sales and use tax exemption for businesses in municipalities with ongoing public highway projects.

The bill provides a 50 percent exemption to the sales and use tax for businesses in municipalities where public highway projects are ongoing. A "public highway project" involves the construction, improvement, or maintenance of highways, roads, bridges, or streets. A "retail business establishment" is a small business with a fixed location offering goods or services. The exemption applies during the "relief period," from the project's start to its completion. Sellers must apply to the Director of the Division of Taxation for the exemption, who will verify the business's location and status.