This bill establishes a 10-year sales and use tax exemption for contractors, subcontractors, or repairmen on materials, supplies, and services used exclusively for the completion of qualified energy infrastructure projects. The exemption applies to sales made for the construction of new energy generation facilities or major improvements to existing ones, including new energy storage systems or enhancements to existing energy storage systems. The exemption period is defined as starting on or after January 1 of the year following the bill's enactment and concluding on December 31 of the tenth year after the exemption period begins.

To facilitate the implementation of this act, the Director of the Division of Taxation is tasked with adopting necessary rules and regulations in accordance with the Administrative Procedure Act. The bill aims to promote investment in energy infrastructure by providing financial incentives through tax exemptions, thereby supporting the development of energy generation and storage capabilities in New Jersey.