Establishes "Electric Vehicle Battery Repurposing Fund" to support repurposing, remanufacturing, and recycling of electric vehicle batteries.
The bill establishes the "Electric Vehicle Battery Repurposing Fund" in the General Fund, which will receive $500 for each retail sale of an electric vehicle in New Jersey. The fund will support repurposing, remanufacturing, and recycling of electric vehicle batteries in an environmentally safe manner. This initiative aims to prevent contamination of landfills with toxic chemicals from used batteries and promote sustainable practices.
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