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S.624

Directs NJ Infrastructure Bank to establish financing program for electric school buses; allocates $20 million annually in societal benefits charge revenues to NJ Infrastructure Bank for purposes of program.

Introduced·1/13/26
Introduced Text

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

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Where it stands

Current
Environment and Energy Committee
Next
Committee decision

Sponsors

DD
2
0
Democratic CaucusRepublican Caucus

History

Jan 13

Senate

Introduced in the Senate, Referred to Senate Environment and Energy Committee