New Jersey Statutes 40:54D-21.1. Entrance into a marketing partnership; qualified business, authority
Terms Used In New Jersey Statutes 40:54D-21.1
- Contract: A legal written agreement that becomes binding when signed.
- Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
b. An authority may establish and enter into marketing partnership contracts with a qualified business outside the district for participation in events or other services or programs administered by the authority. A qualified business electing to participate in those services of programs shall enter into a marketing partnership contract with the authority. Under the contract the authority shall agree to provide the business with all the rights and privileges applicable to that type of business located within the district, and the business shall agree to pay directly to the authority an amount equal to the tourism development fees and tourism assessments payable by that type of business as if located within the district.
c. For the purposes of this section, “qualified business” means a hotel, motel or other business collecting receipts, sales or charges subject to the “Sales and Use Tax Act,” P.L.1966, c.30 (C. 54:32B-1 et seq.).
L.2002, c.72, s.11.