This bill authorizes municipalities in New Jersey to impose a tax on empty ISO shipping containers stored within their boundaries. The governing body of each municipality can establish the tax rate and collection methods through an ordinance. The bill defines "ISO shipping container" and specifies that 75% of the tax revenue collected will be retained by the municipality for funding local infrastructure projects, while the remaining 25% will be remitted to the county for similar purposes or for the maintenance of open space within the municipality.

Additionally, the bill mandates that the Directors of the Division of Local Government Services and the Division of Taxation create a model ordinance within 60 days of enactment to assist municipalities in implementing this tax. The act is set to take effect immediately upon passage.