Revises "New Jersey Transportation Trust Fund Authority Act," revises calculation of gas tax rate, and establishes annual fee for zero emission vehicles.
This New Jersey bill extends the Transportation Trust Fund Authority's bond issuance capacity from $12 billion to $15.6 billion through 2029 and establishes an annual fee of $250 for zero emission vehicle owners starting July 1, 2024 (increasing by $10 annually to $290 by 2028). It also modifies the gas tax rate calculation to gradually increase annual revenue targets from $2.032 billion in 2025 to $2.366 billion in 2029. The fee revenues and adjusted gas tax collections will be credited to the Transportation Trust Fund to support transportation infrastructure projects, with the zero emission vehicle fees specifically going to the fund's capital reserves.
Bill status
signed
all 5 stages cleared
Introduction
Mar 2024
Committee Review
Mar 2024
General Assembly Passage
Mar 2024
Senate Passage
Mar 2024
Signed into Law
Mar 2024
Introduced Mar 4, 2024
Signed Mar 26, 2024
Floor votes · Senate Mar 18, 2024 · General Assembly Mar 18, 2024
How they voted
24–14
Passed · 2 other
Total votes 40
Mar 18, 2024
D
Democratic25
84% Yea
R
Republican15
73% Nay
Vote distribution
All Yea
All Nay
Mixed
No data
Full legislative history
Actions timeline
Total actions
10
Key actions
4
Committee
2
Mar 26, 2024
Signed into law
Approved P.L.2024, c.7.
executive
Mar 18, 2024
Upper · Passed
Passed Senate (Passed Both Houses) (24-14)
upper
Mar 18, 2024
Lower · Passed
Passed Assembly (49-28-0)
lower
Mar 14, 2024
Lower · Passed
Reported out of Assembly Committee, 2nd Reading
lower
Mar 7, 2024
Committee
Reported and Referred to Assembly Appropriations Committee
lower
Mar 4, 2024
Introduced
Introduced in the Assembly, Referred to Assembly Transportation and Independent Authorities Committee
lower
6 primary · 2 co-sponsors
Sponsors
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