NJ S345

Establishes the Resiliency and Environmental System Investment Charge (RESIC) Program allowing water and wastewater utilities to recover costs for non-revenue producing infrastructure investments that enhance system resiliency, environmental compliance, safety, and public health

Requires utilities to submit a foundational filing to the Board of Public Utilities containing projected capital expenditures, engineering evaluations, project descriptions, cost estimates, and estimated rate impacts before implementing a RESIC rate

Caps RESIC revenue recovery at 5% of the utility's total annual revenue as established in its most recent base rate decision

Mandates semi-annual RESIC filings beginning six months after foundational filing approval, with the RESIC rate appearing as a separate line item on customer bills

Requires utilities to file a new base rate case within three years of RESIC approval, at which point RESIC rates are incorporated into base rates and reset to zero