SENATE BUDGET AND APPROPRIATIONS COMMITTEE

STATEMENT TO

[First Reprint]

ASSEMBLY, No. 4050

with committee amendments

STATE OF NEW JERSEY

DATED:  June 28, 2026

      The Senate Budget and Appropriations Committee reports favorably and with committee amendments Assembly Bill No. 4050 (1R).

As amended, this bill amends current law to require an applicant for a new motor vehicle dealer license (applicant) to establish a place of business to be used principally for either the servicing or display of motor vehicles.  Under current law, applicants are required to establish a place of business to be used principally for both the servicing and display of motor vehicles.

      The bill also amends current law to permit applicants to utilize space attached to the applicant’s place of business, to utilize a separate space on the same property as the applicant’s place of business, or to establish an off-site facility within the relevant market area of the applicant’s place of business within the State for the servicing of motor vehicles.

      As amended and reported, Assembly Bill No. 4050 (1R) is identical to Senate Bill No. 1423, which was also amended and reported by the committee on this date.

COMMITTEE AMENDMENTS:

      The committee amended the bill to:

      (1)  remove the requirement that the Chief Administrator of the New Jersey Motor Vehicle Commission is to issue a provisional license upon the substantial completion of the new motor vehicle dealer license application;

      (2)  revise the bill’s synopsis; and

      (3)  make technical changes.

FISCAL IMPACT:

      This bill, as amended, is not certified as requiring a fiscal note.