This bill establishes the NJ SHARES Fund within the Department of the Treasury, allowing taxpayers to voluntarily contribute to the fund through their New Jersey gross income tax returns. Taxpayers can indicate a portion of their tax refund or make an enclosed contribution to be deposited in the NJ SHARES Fund. The bill also stipulates that any administrative costs incurred by the Division of Taxation for the collection of these contributions may be deducted from the receipts, with the net contributions being deposited into the fund. Furthermore, the Legislature is required to annually appropriate all funds deposited for distribution to New Jersey SHARES, Inc. (NJ SHARES), which assists households in need of temporary help with energy bills due to short-term financial crises.

The NJ SHARES program specifically targets individuals and families in New Jersey who are experiencing financial difficulties and are not eligible for welfare or other income-based energy assistance programs. To qualify for assistance, recipients must demonstrate a history of good-faith payments on their utility bills. The bill is set to take effect immediately and will apply to taxable years beginning on or after January 1 following its enactment.