This bill proposes a reduction in the excise tax rates for cider and low-percentage alcohol by volume (ABV) liquors in New Jersey. Specifically, the tax rate for cider will be lowered from $0.15 a gallon to $0.12 a gallon, aligning it with the current tax rate for beer. Additionally, the bill establishes that liquors containing less than 9.9 percent ABV will also be taxed at $0.12 a gallon, significantly reducing their tax burden from the existing rate of $5.50 a gallon for standard liquors.

The amendments to the current law include the deletion of outdated tax rates and the insertion of the new tax rates for both cider and low-percentage ABV liquors. The bill aims to create a more equitable tax structure for these beverages, potentially encouraging their consumption and supporting local producers. The changes will take effect four months after the bill is enacted.