The Coalition has been getting a lot of comments and questions regarding the new law that was passed regarding transient accommodations in New Jersey. At this time, we are unable to answer many of those questions until Treasury has prepared and released their “guidance” on the new law. Much like when the original tax law was passed last Summer, Treasury’s interpretation of the law and how they plan to enforce it can impact how we all do business in New Jersey. That is why the Coalition, through our Public Affairs Counsel, intends to support the process by sharing with Treasury our concerns, opinions and suggestions regarding legislative intent and regulated community compliance. One of the questions that we will try to answer is about the origin of the “2 unit limit” placed on exempt rentals. The original bill had no limits on the number of units exempted, which did raise some concerns from the Hotel/Motel Lobby. The coalition deliberated with the Hotel/ Motel Lobby who agreed to allow for a total tax exemption of 4 units or less. However, the night before the bill was set for a full vote in the Senate, the New Jersey Restaurant and Hospitality Association, a well funded and politically connected industry trade group, demanded no more than a 2 unit exemption. Ultimately, it was decided, to some lawmakers’ chagrin, that the exemption would be for 2 units or less. Without this final compromise the bill would not have been completed by summer recess and would have carried over into the lame duck session beginning in December. Knowing that there were simply no resources for the Coalition to continue fighting this through December and into 2020, the legislators who supported us opted to get an exemption for as many NJ property owners as they could. We thank Senator Andrzejczak for his leadership. The Coalition recognizes that this puts a number of owners in an “unfair” position and creates a confusing environment for renters in the state of New Jersey. Passing legislation involves a great deal of compromise and unfortunately for some owners in New Jersey this law may not provide the relief we had been working for, but for many owners and renters it is a welcome reprieve. We recommend that everyone consult with an accountant or tax attorney for counsel in order to minimize your tax exposure. Thank you again for all who have supported and continue to support our efforts.