TRENTON – A pair of related bills that would exempt flooring work from sales taxes under certain conditions was not recommended for approval today by the state Sales and Use Tax Review Commission.
The bills, S2840/A3966, sponsored by Sen. Paul Sarlo, (D-36), Wood-Ridge, and Assemblyman Lou Greenwald, (D-6), Camden, would exempt from sales taxes the installation of carpeting and other flooring such as linoleum, tile, or hardwood if it constitutes a capital improvement.
The Commission pointed out that according to fiscal estimates, over the next three fiscal years the bills would cost the state anywhere from $56 million to $64 million in revenue.
Given the economic climate, the Commission could not recommend support for this bill.
UEZ bill held
A bill that would tighten regulations and funding for the Urban Enterprise Zone program was held from consideration today.
A fiscal analysis is needed, and the Commission reported it has until Sept. 21 to render a decision.