The bill introduces new regulations for the sale, lease, rental, and distribution of low-speed electric bicycles and motorized bicycles in New Jersey, focusing on safety and compliance for their storage batteries and charging systems. It amends the definition of "low-speed electric bicycle" to include "class 1" and "class 2" categories, detailing their motor capabilities and speed limits. The bill also establishes a definition for "motorized bicycle," which cannot have a motor that exclusively propels the bicycle and must not exceed a maximum speed of 28 miles per hour. Key changes include specific conditions for classifying low-speed electric bicycles, such as class 1 bicycles providing assistance only when pedaling and ceasing assistance at 20 miles per hour.

Additionally, the legislation mandates that storage batteries and charging systems used in these bicycles be tested by accredited laboratories to ensure compliance with safety standards, with all certified products required to display the laboratory's logo or label. Compliance deadlines are set for manufacturers and distributors, with requirements to be met by January 1, 2026, for bicycles and batteries, and by January 1, 2028, for rental services. The bill also assigns the State Fire Marshal the responsibility of creating regulations to enhance fire and electrical safety for these vehicles and their batteries, ultimately aiming to improve safety standards in the electric and motorized bicycle market while protecting consumers from hazardous products.