NJ S4549

Any state revenue from sales and use tax on energy/utility services that exceeds the amount collected in Fiscal Year 2025 must be appropriated to the Board of Public Utilities for deposit into the Universal Service Fund

The Universal Service Fund supports utility assistance programs including the Payment Assistance for Gas and Electric Program, Lifeline Credit Program, and Low Income Housing Energy Assistance Program

Amends existing law to exclude these newly dedicated funds from the "Energy Tax Receipts Property Tax Relief Fund" that provides municipal aid

Based on FY 2026 projections and announced electricity rate increases of 17.2% to 20.2% for residential ratepayers, excess collections could reach approximately $85.2 million in FY 2026

Takes effect immediately and applies to state fiscal years beginning on or after July 1, 2025