Establishes clean heat standard for natural gas utilities and other heating fuel suppliers.

This bill requires natural gas utilities and other heating fuel suppliers in New Jersey to annually purchase "clean heat credits" representing greenhouse gas emissions reductions from qualifying clean heating measures. Suppliers must cover 5% of emissions in the first year after implementation, increasing to 20% by 2030, 50% by 2040, and 80% by 2050. Property owners who install eligible measures - such as heat pumps, energy efficiency upgrades, or renewable energy systems - generate credits for each ton of avoided emissions, which they sell to suppliers. Suppliers may also pay an alternative compliance fee into the Global Warming Solutions Fund instead of buying credits.