The bill, proposed by Essex County Assemblywoman Cleopatra Tucker, would have required riders or their parents to pay $10 a year to register their bikes with the Division of Motor Vehicles.
However, in a new release issued Thursday morning, Tucker said she was withdrawing the bill.
In the statement, she is quoted as saying "My intention was never to impose a burden or additional costs. My goal was to at least begin a discussion of how best to protect elderly pedestrians."
Tucker previously told the Star-Ledger of Newark that she proposed the bill because senior citizens called her to complain about children on bikes.
The seniors told her they had been knocked down but had no way to register a complaint because they couldn't identify the rider.