New Jersey S475 prohibits using increased petroleum products gross receipts tax revenue for passenger and freight rail projects.
New Jersey S475 amends existing law to exclude passenger and freight rail projects from being funded by the petroleum products gross receipts tax increase enacted on October 14, 2016. The bill ensures that the increased tax revenue cannot be used for transportation projects related to passenger rail service or freight rail service. This change aims to redirect the tax revenue to other transportation needs, excluding rail projects.
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