Sponsored by:
Assemblyman JOHN J. BURZICHELLI
District 3 (Cumberland, Gloucester and Salem)
Assemblywoman CONNIE WAGNER
District 38 (Bergen and Passaic)
Assemblyman TIMOTHY J. EUSTACE
District 38 (Bergen and Passaic)
Assemblyman THOMAS P. GIBLIN
District 34 (Essex and Passaic)
Assemblyman RONALD S. DANCER
District 12 (Burlington, Middlesex, Monmouth and Ocean)
Co-Sponsored by:
Assemblywoman Riley, Assemblymen Caputo, O'Scanlon and O'Donnell
SYNOPSIS
Establishes grant program to provide rebate of sales and use tax paid for purchase of certain materials and supplies used for construction of certain off-track wagering facilities.
CURRENT VERSION OF TEXT
As reported by the Assembly Appropriations Committee on June 18, 2012, with amendments.
An Act 1[providing] establishing a grant program to provide1 a 1rebate of1 sales and use tax 1[rebate] paid1 for 1[supplies and] the purchase of certain1 materials 1[purchased] and supplies used1 for the construction of 1certain1 off-track wagering facilities, supplementing P.L.1966, c.30 (C.54:32B-1 et seq.).
Be It Enacted by the Senate and General Assembly of the State of New Jersey:
1. a. Notwithstanding the provisions of any law, rule or regulation to the contrary, an amount equal to the tax collected pursuant to the “Sales and Use Tax Act,” P.L.1966, c.30 (C.54:32B-1 et seq.) from the retail sale or use of construction materials and construction supplies used by a contractor of a 1person who is, as of January 1, 2012, a1 lessee of a racetrack owned by the New Jersey Sports and Exposition Authority 1[,]1 or a 1contractor of a1 joint venture 1entered into1 between 1or among two or more persons who are1 lessees, or their affiliates, of the New Jersey Sports and Exposition Authority 1[, as of January 1, 2012]1 for the construction of an off-track wagering facility 1[as defined in section 3 of P.L.2001, c.199 (C.5:5-129)]1 shall be credited by the Director of the Division of Taxation in the Department of the Treasury to a special non-lapsing account in the General Fund as shall be established by the State Treasurer for the purpose prescribed 1[in] by1 subsection c. of this section.
b. A contractor purchasing construction materials and construction supplies for the 1[purposes set forth in subsection a. of this section] construction of an off-track wagering facility1 shall complete a form or certification prescribed by the director. The contractor shall identify the type and location of the construction 1[or reconstruction]1 work and the construction materials, construction supplies, purchase price and New Jersey sales or use tax paid for the purchase of construction materials and construction supplies, and shall provide such other information and documentation as the director may require to verify that New Jersey sales or use tax was paid. The form or certifications shall be filed with the director on a quarterly basis as documentation for determining the amounts to be credited by the director to the special non-lapsing account and the grant that may be made pursuant to subsection c. of this section.
c. Upon certification by the New Jersey Sports and Exposition Authority of the completion of the construction 1[or reconstruction work set forth in subsection a. of this section] of an off-track wagering facility1, the amounts credited by the director to the special non-lapsing account in the General Fund pursuant to this section shall be paid by the State Treasurer in the form of a one-time grant to the lessee or joint venture to rebate to the lessee or joint venture the amounts credited in the account for 1[each] the1 completed construction 1[or reconstruction work set forth in subsection a. of this section] of that off-track wagering facility1. A grant shall not be paid except as shall be appropriated by law. A lessee or joint venture shall not be allowed more than one grant for 1[any] the1 construction 1[or reconstruction work set forth in subsection a. of this section] of each off-track wagering facility1. A grant shall not be paid for 1[any] the1 construction 1[or reconstruction work set forth in subsection a. of this section] of an off-track wagering facility1 that is completed after June 30, 2022.
d. For purposes of this section,
“Construction materials” means items of tangible personal property purchased by a contractor for incorporation into property as a physical component of such property.
“Construction supplies” means items of tangible personal property consumed in the fulfillment of a construction contract, which items do not become a physical component part of the property upon which work is performed.
1“Off-track wagering facility” means a licensed off-track wagering facility at which parimutuel wagering is conducted in accordance with the “Off-Track and Account Wagering Act,” P.L.2001, c.199 (C.5:5-127 et seq.).1
e. Notwithstanding any provision of the “Administrative Procedure Act,” P.L.1968, c.410 (C.52:14B-1 et seq.) to the contrary, the director may adopt immediately upon filing with the Office of Administrative Law such regulations as the director deems necessary to effectuate the purposes of this section, which regulations shall be effective for a period of not more than 180 days following the effective date of P.L. , c. (C. ) (pending before the Legislature as this bill) and may thereafter be amended, adopted, or readopted by the director in accordance with P.L.1968, c.410 (C.52:14B-1 et seq.).
2. This act shall take effect immediately.