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 New Jersey's Infrastructure Bank to create a financing program providing loans to school districts for purchasing electric school buses and charging infrastructure, replacing diesel buses. It allocates $20 million annually from societal benefits charge revenues to fund the program, with priority given to school districts in overburdened communities. School districts must submit applications with energy assessments comparing electric vs. diesel bus costs and environmental benefits, and projects must appear on an annual priority list. The program uses a dedicated fund that can also incorporate federal funds and loan repayments, with borrowers responsible for repaying federal loans.