Revises "New Jersey Transportation Trust Fund Authority Act"; extends process for calculating gas tax rate until Fiscal Year 2032; imposes sales and use tax and additional registration fee on electric vehicles; appropriates $2.5 billion.

This bill extends the process for calculating gas tax rates through Fiscal Year 2032 and imposes an additional $300 annual registration fee for passenger electric vehicles and $450 for commercial electric vehicles in New Jersey. It repeals the sales tax exemption for electric vehicles, dedicating the resulting revenue (up to $100 million annually) to transportation projects. The bill appropriates $2.5 billion total, including $1 billion for New Jersey Transit Corporation capital projects and operating expenses, and $1.5 billion from the Debt Defeasance and Prevention Fund to the Transportation Trust Fund. These funds are intended to support transportation infrastructure projects through 2032, with specific restrictions on how the money can be used.