This bill amends the existing law regarding the allocation of revenues collected from hotel and motel occupancy fees, specifically updating the minimum funding levels and the associated poison pill provisions. It establishes that starting in Fiscal Year 2027, the State must allocate not less than $31,900,000 to the New Jersey State Council on the Arts, $5,500,000 to the New Jersey Historical Commission, $17,600,000 to the Division of Travel and Tourism for tourism advertising and promotion, and $720,000 to the New Jersey Cultural Trust. The bill clarifies that if these minimum amounts are not appropriated in any fiscal year, the poison pill provision will be triggered, which suspends the collection of the occupancy fee.

Additionally, the bill appropriates $1,000,000 from the General Fund to the Division of Travel and Tourism for tourism advertising and promotion, ensuring that a total of $17,600,000 is allocated for this purpose in Fiscal Year 2026. This funding is intended to support tourism initiatives and clarify the financial commitments required from the State in relation to the hotel and motel occupancy fee revenues.

Statutes affected:
Introduced: 54:32D-2