This bill proposes to exempt residential customers from the sales and use tax on purchases of natural gas and electricity. Specifically, it mandates that public utilities providing these services must deduct the amount of sales and use tax from each customer's bill at the end of each monthly billing cycle. The bill also requires the Director of the Division of Taxation, in collaboration with the Board of Public Utilities, to establish necessary rules and regulations for implementing this exemption.

The intent of the bill is to provide financial relief to residents amid increasing costs associated with energy services. By eliminating the sales and use tax on these essential utilities, the legislation aims to ease the financial burden on households, making energy more affordable for New Jersey residents.