N.J. governor signs tax cut on new boat sales

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Boating enthusiasts and the maritime industry got a boost Wednesday when Gov. Chris Christie signed into law a bill that slashes sales taxes on boats bought in New Jersey by 50 percent.

The law won the universal support of the state Legislature as a means to lift the industry that is still struggling to gain its sea legs three years after the devastation left in Hurricane Sandy's wake.

"The production of boats and other vessels has declined in recent years due to a range of factors, including the economic recession and the impact of Superstorm Sandy," said Sen. Jeff Van Drew (D-Cape May), a sponsor of the bill.

Click here for the full report by NJ.com.