NJ S1619

Dedicates excess state sales and use tax revenues from energy and utility services above fiscal year 2025 levels to the Universal Service Fund for utility assistance programs, including the Payment Assistance for Gas and Electric Program.

Uses fiscal year 2025 collections (approximately $980 million projected) as the baseline, with any revenue exceeding this amount in subsequent years appropriated to the Board of Public Utilities.

Takes effect immediately for state fiscal years beginning on or after July 1, 2025.

Amends existing law that currently directs energy sales tax revenues to the Energy Tax Receipts Property Tax Relief Fund and General Fund, carving out the excess revenues for utility assistance instead.

Could generate up to $85.2 million in additional utility assistance funding in fiscal year 2026, based on anticipated electricity rate increases of 17.2 to 20.2 percent for residential customers.