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A4698

Imposes 10 percent electric public utility windfall surtax on taxpayers with allocated taxable net income in excess of $10 million under CBT.

Introduced·3/16/26
Introduced Text

New Jersey A4698 imposes a 10% surtax on electric public utilities with net income over $10 million to fund utility assistance programs.

New Jersey A4698 establishes a 10% electric public utility windfall surtax on electric public utilities with allocated taxable net income exceeding $10 million. The surtax is intended to fund utility assistance programs that support low-income residents and businesses. The bill prohibits the Board of Public Utilities from approving rate increases that include the cost of compliance with its provisions.

Included in complete analysis

  • Overview
  • Core Provisions
  • Implementation
  • Impact
  • Legal Framework
  • Critical Issues

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Where it stands

Current
Telecommunications and Utilities Committee
Next
Committee decision

Sponsors

D
1
0
Democratic CaucusRepublican Caucus

History

Mar 16

Assembly

Introduced, Referred to Assembly Telecommunications and Utilities Committee