NJ S4398

Exempts electric and gas utility service from New Jersey's sales and use tax from June 1, 2025 through September 30, 2025, prohibiting sellers from including the tax in purchase prices during this period

Prohibits electric and gas public utilities from charging customers the societal benefits charge during the same June 1 through September 30, 2025 period

Responds to Board of Public Utilities-announced electricity rate increases of 17.2% to 20.2% for residential customers starting June 2025

Notes that sales and use tax collections from energy sales are expected to increase by up to $85.2 million more than initially anticipated for Fiscal Year 2026 due to rate hikes

References approximately $704.2 million in societal benefits charge revenues transferred to other funds during Fiscal Years 2021-2024 for purposes outside the charge's original intent