This bill introduces a temporary surtax on corporation business taxpayers who receive certain tariff refunds, specifically imposing a surtax equal to 90 percent of the apportioned tariff refunds received during the privilege periods from January 1, 2026, to January 1, 2031. The surtax is in addition to the existing corporation business tax and is designed to generate revenue that will be dedicated to consumer price relief. The bill defines key terms such as "apportioned tariff refund" and "qualified tariff refund," clarifying that the latter includes refunds mandated by the United States Customs and Border Protection for tariffs imposed under specific presidential orders related to economic threats.

Additionally, the bill establishes the New Jersey Consumer Tariff Relief Fund, a special nonlapsing account within the General Fund, where all revenues from the surtax will be deposited. The funds will be allocated annually by the Legislature for grants to small businesses affected by price increases due to qualified tariffs, rebates for low- and moderate-income households, and enforcement of consumer protection laws. The Director of the Division of Taxation is tasked with adopting necessary regulations to implement the bill's provisions.