New Jersey § 48:25-7

§ 48:25-7.

a. There is established in the Board of Public Utilities a special, nonlapsing fund

to be known as the Plug-in Electric Vehicle Incentive Fund. The fund shall be administered by the board and shall be credited with: (1) moneys deposited into the fund by the board pursuant to subsection b. of this

section; (2) moneys that are appropriated by the Legislature; and (3) any return on investment of moneys deposited in the fund. b. (1) The board shall deposit into the fund, each year, $30 million of moneys received

from the societal benefits charge established pursuant to section 12 of P.L.1999, c. 23 ( C.48:3-60 ), moneys made available to the board pursuant to the implementation of the Regional

Greenhouse Gas Initiative and P.L.2007, c. 340 ( C.26:2C-45 et seq. ), and moneys available from other funding sources, as determined by the board, to

make disbursements under the light duty plug-in electric vehicle incentive program

established pursuant to section 4 of P.L.2019, c. 362 ( C.48:25-4 ). (2) The board may deposit into the fund, each year, such additional amounts from the

societal benefits charge, as the board deems necessary, to make disbursement under

an incentive program for in-home electric vehicle service equipment established pursuant

to section 6 of P.L.2019, c. 362 ( C.48:25-6 ). c. Moneys in the fund shall be used by the board solely for the purpose of disbursing

the incentives established pursuant to sections 4 and 6 of P.L.2019, c. 362 ( C.48:25-4 and C.48:25-6 ). The board shall recover any administrative costs incurred in connection with P.L.2019, c. 362 ( C.48:25-1 et al.) separately from moneys received from the societal benefits charge. d. The board shall provide no less than $30 million in disbursements under the light

duty plug-in electric vehicle incentive program established pursuant to section 4

of P.L.2019, c. 362 ( C.48:25-4 ) each year for 10 years.