Adjusts price threshold for titling fee for new luxury vehicles.

This bill increases New Jersey's price threshold for a luxury vehicle titling fee from $45,000 to $70,000 for new passenger automobiles. The fee remains a 0.4% charge on the sales or lease price before rebates, collected at the time of title registration. The fee will now be adjusted annually based on the Consumer Price Index for new vehicles, with updates published online by December 1 each year. Vehicles meeting fuel efficiency standards (40+ MPG) or certified as zero-emission are exempt from the fee. The change directly affects new luxury car buyers and dealers handling titles for vehicles over $70,000.