On Thursday, March 7, the Assembly Transportation and Independent Authorities Committee favorably released A-4011, which reauthorizes the Transportation Trust Fund (TTF) for five years. This plan includes an annual increase of 1.9 cents per gallon of fuel. Additionally, A-4011 introduces a new annual registration fee of $250 for zero-emission vehicles, which increases by $10 each year throughout the legislation’s term.
The League testified in support of the bill, advocating for robust local transportation funding through the TTF to alleviate the financial burden on local property taxpayers.
S-2931, the bill’s Senate counterpart, is scheduled for consideration by the Senate Budget and Appropriations Committee on Monday, March 11.
For additional information, please refer to our previous news flash.
The League will provide updates as more information becomes available.
Contact: Andrew LaFevre, Legislative Analyst, alafevre@njlm.org, 609-695-3481, x116