Revises and updates public utility franchise process; allows State's political subdivisions to revoke franchises; increases certain penalties.
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Progress
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- Introduced
- Passed General Assembly
- Passed Senate
- To Governor
- Became Law
Overview
This bill revises and updates the process for public utility franchises in New Jersey. It allows state and local governments to revoke existing franchises and increases penalties for utility violations. Specifically, new franchises are capped at seven years, and local governments can revoke a franchise if a utility fails to meet terms. The bill also establishes a fund to credit utility customers with penalties collected.
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