ASSEMBLY BUDGET COMMITTEE

STATEMENT TO

ASSEMBLY, No. 4708

STATE OF NEW JERSEY

DATED:  JUNE 26, 2024

      The Assembly Budget Committee reports favorably Assembly Bill No. 4708.

      This bill eliminates the statutory suspension provision imposed on the collection of hotel and motel occupancy fees if amounts set forth in that provision setting an annual minimum level of appropriations of the fee revenues for cultural projects are not met.  The bill eliminates the so-called “poison pill” provision which would require the Director of the Division of Taxation to no longer impose the fee payment or collection of the hotel and motel occupancy fee if an annual appropriations act does make the statutory minimum for cultural project appropriations from the fee revenue.

FISCAL IMPACT:

      Fiscal information for this bill is currently unavailable.