This bill establishes a 10-year sales and use tax exemption for contractors, subcontractors, or repairmen on materials, supplies, and services used exclusively for completing qualified energy infrastructure projects. The exemption applies to sales made for the construction of new energy generation facilities or significant improvements to existing ones, including the development of new energy storage systems or enhancements to current 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. The Director of the Division of Taxation is tasked with adopting necessary rules and regulations to implement the act in accordance with the Administrative Procedure Act. The bill is set to take effect immediately upon enactment.