This bill establishes an annual four-day sales tax holiday in New Jersey, commencing at 12:01 a.m. on the Friday after Thanksgiving and concluding at 11:59 p.m. on the following Monday. During this exemption period, receipts from retail sales of tangible personal property will be exempt from the sales tax imposed under the Sales and Use Tax Act. The bill aims to promote shopping during this peak holiday season, which includes Black Friday, Small Business Saturday, and Cyber Monday, thereby supporting local businesses and stimulating the economy.

Additionally, the bill allows the Director of the Division of Taxation in the Department of the Treasury to adopt necessary regulations to implement the sales tax holiday immediately upon filing with the Office of Administrative Law. These regulations will be effective for up to 180 days and can be amended as needed to ensure compliance with the Streamlined Sales and Use Tax Agreement. The act is set to take effect immediately upon passage.