This bill mandates that the Governor's annual budget message includes a detailed report on the revenues and expenditures associated with the societal benefits charge. The report must present information in a columnar format for the five most recently completed fiscal years and the current fiscal year, detailing the total revenue collected, allocations for various energy programs, and expenditures from the Universal Services Fund and the Plug-in Electric Vehicle Incentive Fund. The bill aims to enhance transparency regarding how the revenues from the societal benefits charge are generated and utilized.

Additionally, the bill specifies that the New Jersey Board of Public Utilities will assist the Governor in preparing this report. It emphasizes the need for itemized statements regarding the allocation and expenditure of funds for energy efficiency programs, renewable energy initiatives, and energy assistance programs. The bill also highlights that current law does not standardize the societal benefits charge rate across utilities, and it requires the report to include the total charge rate and the revenue retained by each electric and gas public utility. This legislation is set to take effect immediately and will first apply to the fiscal year commencing July 1, 2026.