ASSEMBLY BUDGET COMMITTEE

STATEMENT TO

ASSEMBLY, No. 5325

STATE OF NEW JERSEY

DATED:  JUNE 28, 2026

      The Assembly Budget Committee reports favorably Assembly Bill No. 5325.

      As reported, this bill reduces business formation fees for certain business structures in the State.  Specifically, the bill provides for a $25 reduction in business formation fees.

      The Governor’s Fiscal Year 2027 budget recommendations include enactment of this bill.  The Department of the Treasury estimates that this proposal will reduce revenues by $4.1 million.

FISCAL IMPACT:

      Fiscal information for this bill is unavailable.