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Home Source documents Assembly Commerce and Economic Development Committee Statement to [First Reprint] Senate, No. 505, Dated December 11, 2023

Assembly Commerce and Economic Development Committee Statement to [First Reprint] Senate, No. 505, Dated December 11, 2023

Summary

Statement of the Assembly Commerce and Economic Development Committee of the State of New Jersey, dated December 11, 2023, reporting Senate Bill 505 (First Reprint) favorably. The bill changes the definitions used for the State's transient accommodation taxes and fees. An accommodation is obtained through a transient space marketplace when its rental is arranged through a means provided by the marketplace or travel agency, regardless of whether payment is made through that means. A transient space marketplace is redefined as one that provides the service in exchange for a fee. As reported, the bill is identical to Assembly Bill 2237.

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ASSEMBLY COMMERCE AND ECONOMIC DEVELOPMENT COMMITTEE

STATEMENT TO

[First Reprint]

SENATE, No.
505

STATE
OF NEW JERSEY

DATED: DECEMBER
11, 2023

The Assembly Commerce and Economic Development
Committee reports favorably Senate Bill No. 505 (1R).

This bill modifies certain definitions that are
applicable to the State’s transient accommodation taxes and fees.
Specifically, the bill alters the definitions of “obtained through a transient
marketplace” and “transient space marketplace.”

Under current law, “obtained through a transient space
marketplace” means that payment for the accommodation is made through a means
provided by the marketplace or travel agency, either directly or indirectly,
regardless of which person or entity receives the payment, and where the
contracting for the accommodation is made through the marketplace or travel agency.
The bill, as amended, changes this definition to specify that the rental of the
accommodation is arranged through a means provided by the marketplace or travel
agency, regardless of whether payment for the accommodation is made through a
means provided by the marketplace or travel agency.

Further, the bill modifies the definition of “transient
space marketplace.” Under current law, a transient space marketplace means a
marketplace or travel agency through which a person may offer transient
accommodations to customers and through which customers may arrange for
occupancies of transient accommodations. The bill changes the definition to
specify that a marketplace or travel agency provides the service in exchange
for a fee.

As reported by the committee, Senate Bill No. 505 (1R)
is identical to Assembly Bill No. 2237 which was also reported, as amended, by
the committee on this date.

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