Requires Petroleum Products Gross Receipts Tax rate reduction if certain Legislative action is taken that includes increases in other State tax rates and revenue; dedicates revenues from certain sales and use tax increases to "Transportation Trust Fund Account."

This bill links changes to New Jersey's petroleum products tax rate to concurrent increases in other state taxes. If the legislature raises sales or use tax rates, the bill requires a corresponding reduction in the petroleum products gross receipts tax rate, calculated based on the revenue impact of the new sales tax. The revenues generated from the increased sales tax rates must be dedicated exclusively to the state's "Transportation Trust Fund Account." It directly affects petroleum companies (refiners/distributors) and state transportation funding, creating a mechanism to offset tax increases on consumers with lower taxes on fuel. The bill does not change current tax rates but establishes a conditional adjustment process tied to legislative action.