The bill amends N.J.S.18A:18A-42 to enable boards of education to award multiyear contracts for various services and goods, specifically allowing leases for fossil fuel school buses for up to 10 years and electric school buses for a term not exceeding the vehicle's service life. It also permits contracts for goods or services aimed at producing class I renewable energy for a maximum of 15 years, subject to guidelines from the Board of Public Utilities. Additionally, the bill allows for extensions of contracts for non-professional services, with limitations on duration and price adjustments.

Moreover, the bill modifies N.J.S.18A:20-4.2 to enhance school boards' authority regarding real property, permitting lease purchase agreements for school building improvements for terms not exceeding five years. It mandates that these agreements include provisions for annual appropriations and competitive bidding for construction contracts. The New Jersey School Boards Association is authorized to act as a government aggregator for electric generation and gas supply services, with a framework for interim standards for energy aggregation programs. The act will take effect immediately upon approval, which was granted on July 10, 2024.

Statutes affected:
Introduced: 18A:18A-4.1, 48:3-91
Advance Law: 18A:18A-4.1, 48:3-91
Pamphlet Law: 48:3-91