NJ S4285

Abolishes the New Jersey Board of Public Utilities (BPU), which was established under Reorganization Plan No. 001-1994 and currently allocated within the Department of the Treasury

Transfers all functions, powers, and duties of the BPU to the Department of the Treasury, including all records, equipment, personal property, appropriations, and unexpended funds

Transfer must be conducted pursuant to the State Agency Transfer Act (P.L.1971, c.375)

Takes effect on the first day of the sixth month following enactment

Sponsors cite rising electricity rates and affordability concerns as motivation, aiming to encourage reassessment of energy policies that may impact utility rates