SENATE STATE GOVERNMENT, WAGERING, TOURISM & HISTORIC PRESERVATION COMMITTEE

STATEMENT TO

SENATE, No. 4494

STATE OF NEW JERSEY

DATED:  decemBER 1, 2025

      The Senate State Government, Wagering, Tourism & Historic Preservation Committee reports favorably Senate Bill No. 4494.

This bill requires the full amount of revenue generated by the casino hotel parking fee to be made available to the Casino Reinvestment Development Authority (CRDA) for projects located within the boundaries of the City of Atlantic City. 

     Current law requires casino licensees to charge and collect a fee of $3.00 per day for the use of a parking space at a casino hotel facility.  Of that amount, the revenue derived from $2.50 of the parking fee is deposited into a special fund held by the State Treasurer and made available for the use of the CRDA for eligible public improvements and economic development and redevelopment projects within the corridor region of the City of Atlantic City.  The revenue derived from the remaining $0.50 of the parking fee is deposited into the Casino Revenue Fund.  The Casino Revenue Fund accounts for the taxes imposed on casinos, internet gaming, sports betting, and other related activities.  Moneys in the Casino Revenue Fund are required to be appropriated to support reductions in property taxes, utility charges, and other specified expenses of eligible senior citizens and individuals with disabilities.

     Under the bill, the revenue derived from $0.50 of the parking fee currently deposited into the Casino Revenue Fund would instead be deposited into the special fund held by the State Treasurer and made available for the use of the CRDA beginning in State fiscal year 2026.  Revenues from the parking fee would no longer be deposited into the Casino Revenue Fund.  The bill also amends current law to provide that parking fee revenues deposited into the special fund would be available for use by the CRDA for any projects located within the boundaries of the City of Atlantic City, or for other statutory purposes of the authority, as approved by the CRDA.  The CRDA would no longer be required to use the moneys in the special fund for projects located only within the corridor region of Atlantic City.