Revises Energy Tax Receipts Property Tax Relief Aid program; requires all energy taxes to be paid directly to municipalities.

This bill (A1498) changes how energy tax revenues are distributed by requiring energy taxpayers (such as utility companies) to pay energy taxes directly to municipalities instead of through the State. It revises the Energy Tax Receipts Property Tax Relief Aid program, directing the State Treasurer to calculate each municipality's share based on historical payments and equalized property valuations, then instruct energy taxpayers to pay that amount directly to the municipality. The bill ensures municipalities receive either the full amount of energy taxes collected or the amount they would have received under current law, whichever is greater, preventing the State from retaining any portion of these tax collections for other purposes. This change would take effect starting in Fiscal Year 2022, fundamentally altering the revenue distribution mechanism for energy taxes in New Jersey.