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Bill > S4285

NJ S4285

NJ S4285
Abolishes BPU; transfers responsibilities to Department of Treasury.

summary

Introduced
03/24/2025
In Committee
03/24/2025
Crossed Over
Passed
Dead
01/12/2026

Introduced Session

2024-2025 Regular Session

Bill Summary

This bill abolishes the Board of Public Utilities and transfers all of its functions, powers, and duties to the Department of the Treasury. Under the bill, the transfer is to be conducted pursuant to the "State Agency Transfer Act." Electricity rates in New Jersey have begun to rapidly increase due to a variety of factors, raising affordability concerns among ratepayers. With this legislation, the sponsor intends to encourage the State to reassess its approach to energy policies, which may impact utility rates, and prioritize energy affordability and reliability for ratepayers.

AI Summary

This bill abolishes the New Jersey Board of Public Utilities (BPU) and transfers all of its functions, powers, and duties to the New Jersey Department of the Treasury. The bill defines key terms, including "Board" as the New Jersey Board of Public Utilities and "Department" as the New Jersey Department of the Treasury. The transfer will be conducted according to the "State Agency Transfer Act," which provides a standard process for moving an agency's responsibilities between government entities. All of the BPU's records, equipment, personal property, appropriations, and unexpended fund balances will also be transferred to the Treasury Department. The legislation is motivated by concerns about rising electricity rates in New Jersey and aims to encourage a reassessment of the state's energy policies to prioritize affordability and reliability for utility ratepayers. The bill will take effect on the first day of the sixth month following its enactment, providing time for an orderly transition of responsibilities.

Committee Categories

Business and Industry

Sponsors (3)

Last Action

Introduced in the Senate, Referred to Senate Economic Growth Committee (on 03/24/2025)

bill text

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Document Type Source Location
State Bill Page https://www.njleg.state.nj.us/bill-search/2024/S4285
BillText https://pub.njleg.gov/Bills/2024/S4500/4285_I1.HTM
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