NJ Governor Phil Murphy wants to increase the number of available restaurant liquor licenses in the state.
Objective: Overhaul NJ state’s Prohibition-era liquor license system for restaurants.
Currently, the state’s liquor license laws restrict permits to one for every 3,000 residents. This “purposely created market scarcity”.
Restaurateurs often pay hefty prices for a license — sometimes well into 6 figures.
Small eateries in small towns often can’t afford the cost. They quickly lose bidding wars / auctions.
Murphy wants to expand number of licenses made available until such restrictions are totally eliminated.
Interesting: Gov Murphy wants to compensate those who paid inflated prices for a license. He calls it a ‘targeted tax credit’.
Murphy: I propose that over the next few years, we gradually relax this requirement and expand the number of available licenses until the restriction is eliminated in its entirety and the market can work freely.
Murphy: Remove outdated licensing and operating restrictions on our craft breweries, distilleries, and wineries, which are seeing nothing short of a true renaissance.