New Jersey Senate committee advances bills to provide tax relief to Atlantic City

(The Center Square) – Legislation proponents say will provide Atlantic City with some tax relief has been advanced by the New Jersey Senate State Government, Wagering, Tourism & Historic Preservation Committee.

S-1110 would authorize the Casino Reinvestment Development Authority to work with the state or the New Jersey Transportation Trust Fund Authority to finance a transportation link between Atlantic City International Airport and the city’s tourism district. Currently, the CRDA must dedicate its assets and revenues to Atlantic City community development and the tourism district.

“Travelers from outside the area can easily book a flight to the city but getting to and from the casinos and tourism district is another story,” state Sen. Vince Polistina, R-Atlantic, said in a statement. “Convenient and accessible transportation from the airport would be a boon not only for tourists but the entire Atlantic City community.

“Precipitating meaningful transportation advances and making it easier to navigate between important sections of Atlantic City will help address the pressing social and economic needs of city residents and suits the CRDA’s mission to a ‘T,’” Polistina added.

A second measure, S-854, would redirect a 1.25% tax on sports wagering revenues to reduce how much Atlantic City must raise via property taxes.

“Atlantic City has massive tourist attractions and routinely brings in revenue from casinos. However, local residents are often left at a financial disadvantage,” state Sen. Troy Singleton, D-Burlington, said in an announcement. “By improving the transportation network to Atlantic City, and by dedicating a percentage of sports betting revenues for local property tax relief, we can ensure that residents benefit even further from the gaming and tourism industries.”

This article was published by The Center Square and is republished here with permission. Click here to view the original.

About The Center Square 155 Articles
The Center Square was launched in May 2019 to fulfill the need for high-quality statehouse and statewide news across the United States. The focus of our work is state- and local-level government and economic reporting. A taxpayer sensibility distinguishes our work from other coverage of state and local issues.