Adjusts price threshold for titling fee for new luxury vehicles.

This bill (A 923) increases the price threshold for New Jersey's luxury vehicle titling fee from $45,000 to $70,000. It applies a 0.4% fee on new passenger cars priced at or above $70,000 (before rebates/trade-ins) or with fuel efficiency under 19 MPG. The fee is collected at purchase, separate from sales tax, and will be adjusted for inflation annually using the Consumer Price Index for "New Vehicles." It directly affects buyers of new luxury cars in New Jersey, reducing the fee's scope by raising the price threshold.