Directs NJ Infrastructure Bank to establish financing program for electric school buses; allocates $20 million annually in societal benefits charge revenues to NJ Infrastructure Bank for purposes of program.

This bill directs the New Jersey Infrastructure Bank to establish an Electric School Bus Financing Program that provides loans and financial assistance to school districts for purchasing electric school buses and related charging infrastructure. It allocates $20 million annually from societal benefits charge revenues to fund the program, with priority given to school districts located in overburdened communities. School districts seeking funding must perform an energy assessment comparing the costs, environmental benefits, and long-term savings of electric versus diesel buses before applying. The program requires annual reports tracking environmental benefits and effectiveness, with funds available to help schools transition from diesel to electric buses.