New Jersey S2821 imposes an additional annual registration fee on electric vehicles, reduces highway fuel taxes, and mandates a study on alternative.

New Jersey S2821 introduces an additional annual registration fee for electric vehicles starting from July 1, 2025. The fee is set at $300 for passenger electric vehicles and $450 for commercial electric vehicles. The bill also reduces the rate of highway fuel taxes by 33 percent, effective from the same date. Furthermore, it mandates the Department of Transportation to conduct a study on alternative revenue sources for the Transportation Trust Fund, aiming to offset future revenue reductions from the Motor Fuels Tax and the Petroleum Products Gross Receipts Tax due to decreased consumption.

New Jersey S2821 imposes an additional annual registration fee on electric vehicles, reduces highway fuel taxes, and mandates a study on alternative.

New Jersey S2821 introduces an additional annual registration fee for electric vehicles starting from July 1, 2025. The fee is set at $300 for passenger electric vehicles and $450 for commercial electric vehicles. The bill also reduces the rate of highway fuel taxes by 33 percent, effective from the same date. Furthermore, it mandates the Department of Transportation to conduct a study on alternative revenue sources for the Transportation Trust Fund, aiming to offset future revenue reductions from the Motor Fuels Tax and the Petroleum Products Gross Receipts Tax due to decreased consumption.