Exempts fuel used for operation of certain school buses from petroleum products gross receipts tax and motor fuel tax.

This bill (A4050) exempts fuel used for certain school buses from New Jersey's petroleum products gross receipts tax and motor fuel tax. The exemption applies to school buses operated by religious or charitable organizations, or by individuals under contract with public agencies, for transporting students to or from school or school events. To claim the exemption, organizations must pay the tax at purchase and then file for a refund with the Division of Taxation, providing proof of payment and confirming no prior refund was issued. This change would reduce operating costs for these school bus operators while excluding the exemption from review by a three-member council monitoring tax implementation.