When traveling you should have a CURRENT list of laws in all the states you will be traveling through. (printed out and in a folder) You should know each states laws. New Jersey had at one time a Felony charge for non LEO persons carrying Jacketed Hollow Points or so a teaching retired Ohio police chief told me. (when John Corizine was Govenor of New Jersey????) Some people think if they have a CCW they can just travel across the country and some even try to enter Canada, what a mess that can turn into.
The hollow point statute has been in effect for nearly two decades, when NJ passed a series of laws to mimic the Clinton ban, and added some of their own little extras. While hollow points are legal to possess in your home and at the range, they are illegal elsewhere, unless you are going to and from a range, competitive event, or hunting trip. Most of this doesn't matter since CCW is "may issue" (by county judges) and the only one's who get them are politicians, celebrities, and organized crime figures. They DO NOT honor any other state's CCW permits/license.
Hunting is limited to shotgun and muzzleloader only, as well, so centerfire rifle and handgun hunting with hollow points is also moot.
Finally, God help you if you shoot an intruder in your home with a hollow point! Most NJ residents in the know load FMJ and lead solids, or use the Glaser Safety Slug equivalents to limit penetration issues. The shotgun option is also popular (no slugs or buck shot, of course).
The "logic" of this statute probably came out of the NATO, etc. rules mandating FMJ ammo for "humanitarian" reasons. The "cop-killer" moniker also entered into this as well. The issue of penetration never entered the minds of those who created this.
Law enforcement in NJ, BTW, may still use HP ammo, thank goodness. The crooks, of course, ignore all of this, until they're shot with one while in the act of robbing/threatening you in your home. Then they sue you for your use of those "cruel bullets".