New Jersey S 3667: Revises definition of "veteran" for eligibility for veterans' property tax deduction and veterans' property tax exemption.

Bill Text

S3667 

SENATE, No. 3667 

STATE OF NEW JERSEY

222nd LEGISLATURE

� 

INTRODUCED FEBRUARY 24, 2026

Sponsored by:

Senator� CARMEN F. AMATO, JR.

District 9 (Ocean)

Co-Sponsored by:

Senator Tiver

SYNOPSIS

���� Requires offshore wind project escrow funds to be 
remitted to BPU for certain ratepayer relief. 

CURRENT VERSION OF TEXT 

���� As introduced.

�� 

An Act concerning ratepayer relief for electric public 
utility customers.

���� Be It 
Enacted by the Senate and General Assembly of 
the State of New Jersey:

1. 
a.� As used in this section:� 

���� �Board� means the New Jersey 
Board of Public Utilities or any successor agency.

���� �Electric public utility� 
means a public utility, as that term is defined pursuant to R.S.48:2-13, that 
transmits and distributes electricity to end users in the State.

���� �Orsted� means �rsted A/S, Orsted 
North America Inc., Orsted Wind Power North America LLC, Ocean Wind LLC, and 
Ocean Wind II, LLC.

���� b.��� Notwithstanding any law, 
rule, regulation, order, or agreement to the contrary, all unexpended, 
unencumbered, or unobligated funds received by the State from the settlement 
agreement with Orsted entered into as of May 25, 2024, shall be appropriated to 
the Board of Public Utilities.� The board shall use such funds to provide 
ratepayer relief to electric public utility customers.

���� c.���� The board shall adopt, 
pursuant to the �Administrative Procedure Act,� P.L.1968, c.410 (C.52:14B-1 et 
seq.), rules and regulations to implement the provisions of this section by, at 
a minimum, establishing a timeline by which, and the form and manner in which, 
the board shall administer ratepayer relief to electric public utility 
customers pursuant to this section.

���� 2.��� This act shall take 
effect immediately.

STATEMENT

���� This bill requires the State 
to appropriate all unexpended, unencumbered, or unobligated funds received by 
the State from the settlement agreement with Orsted for certain canceled 
offshore wind projects to the Board of Public Utilities (board).� Under the 
bill, the board is required to use these funds to provide ratepayer relief to 
electric public utility customers in a form and manner, and by a certain 
timeline, to be determined by the board through the rulemaking process.