Bill to Boost NJ’s Boating, Marina Industry Advances

Senator Jeff Van Drew and Assemblyman Bob Andrzejczak issued the following statements on approval by the Senate of changes to legislation they sponsored, supported by Gov. Christie, to boost New Jersey’s boating and marina industry.
The legislation (S-2784/A-3856) would reduce the sales tax imposed for sales and uses of boats and vessels. The Senate today approved changes Christie proposed revising the bill by providing a 50 percent reduction in the sales and use tax on all boats and other vessels sold in New Jersey. Contained in the approved changes was a provision lowering the grace period for the use tax exemption from 90 to 30 days.
“New Jersey’s boating industry has lost business because other states simply have better deals for our consumers. We have to update and change our tax policies, otherwise sales will continue to go to dealers elsewhere and our business owners and jobs will suffer,” said Senator Van Drew (D-Atlantic/Cape May/Cumberland). “This bill will help to level the playing field with states like Pennsylvania, Maryland, and Delaware, bringing business back to New Jersey and strengthening the boating and marina industry. This vote was a major step toward making this bill law, and creating more business and consumer friendly tax regulations in the state.”
“If we don’t change our tax structure to attract sales, we will continue to see consumers and our tax dollars go out of state. I am pleased that we’ve moved forward with this bill under an agreement to get this into law,” said Andrzejczak (D-Atlantic/Cape May/Cumberland). “This bill will boost the marina and boating industry and create both jobs and economic development in the region. We are grateful for the support the changes received by the Senate and look forward to taking up the bill in the Assembly.”
The Senate approved the changes by a vote of 33-1. The amended bill must be approved by the Senate, before heading to the Assembly