Loading chat...
NJ S1923
Bill
Status
Introduced
1/13/2026
Primary Sponsor
Latham Tiver
Click for details
AI Summary
- Suspends New Jersey sales and use tax on electric and gas utility service from June 1, 2025 through September 30, 2025
- Prohibits electric and gas public utilities from charging customers the societal benefits charge during the same four-month period
- Responds to announced electricity rate increases of 17.2% to 20.2% for residential ratepayers starting June 2025
- Anticipated sales tax collections from utility sales expected to increase by $85.2 million more than initially projected for Fiscal Year 2026
- Notes that approximately $704.2 million in societal benefits charge revenues were transferred to other funds during Fiscal Years 2021-2024
Legislative Description
Suspends sales and use tax and societal benefits charge on electric and gas public utility bills during four-month period.
Economic Growth
Last Action
Introduced in the Senate, Referred to Senate Economic Growth Committee
1/13/2026
Committee Referrals
Economic Growth1/13/2026
Full Bill Text
No bill text available