New Jersey bill S624 establishes a financing program for electric school buses, allocating $20 million annually from societal benefits charge.
New Jersey bill S624 directs the New Jersey Infrastructure Bank (NJIB) to create the Electric School Bus Financing Program, offering loans and financial assistance to school districts for purchasing electric school buses and related charging infrastructure. The program prioritizes school districts in overburdened communities. The Board of Public Utilities (BPU) will transfer $20 million annually from societal benefits charge revenues to the NJIB for this purpose.
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