Directs NJ Infrastructure Bank to establish financing program for electric school buses; allocates $20 million annually in societal benefits charge revenues to NJ Infrastructure Bank for purposes of program.
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Progress
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- Introduced
- Passed Senate
- Passed General Assembly
- To Governor
- Became Law
Overview
This bill directs the New Jersey Infrastructure Bank to create a financing program for electric school buses. It allocates $20 million annually from the societal benefits charge to the bank for this program, allowing school districts to receive loans and other financial assistance to purchase electric buses and charging infrastructure. The bill also establishes criteria for prioritizing applications, particularly for districts in overburdened communities, and requires an annual report on the program's effectiveness.
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