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NJ S446
Bill
Status
1/9/2024
Primary Sponsor
James Holzapfel
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AI Summary
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Prohibits public utilities from directly billing individual customers for infrastructure upgrade costs resulting from "qualified construction projects" - construction performed on customer property to mitigate damage from previous or future natural disasters
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Requires customers who complete qualified construction projects to submit contractor certification to the Board of Public Utilities and their utility companies within 90 days of project completion
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Allows utilities to recover infrastructure upgrade costs through their rate base, spreading costs across all ratepayers rather than charging individual customers who performed disaster mitigation construction
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Permits utilities to bill customers only for their pro rata share of any rate base increase approved by the Board of Public Utilities
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Customers who fail to provide required certification within the 90-day window may be held liable for the full infrastructure upgrade costs incurred by the utility
Legislative Description
Prohibits utility from billing customer for costs incurred for certain upgrades to utility infrastructure; allows costs for certain upgrades to utility infrastructure be recovered in utility's rate base.
Economic Growth
Last Action
Introduced in the Senate, Referred to Senate Economic Growth Committee
1/9/2024