Permits counties and municipalities to bond for passenger cars and station wagons solely fueled by electric or renewable power sources.

This bill (S 2660) allows New Jersey counties and municipalities to issue bonds specifically for purchasing electric or renewable-powered passenger cars and station wagons. It amends bond accounting rules by adding a new 5-year lifespan category for "alternative fuel automotive vehicles" (including electric vehicles) in municipal bond records, distinct from standard gasoline/diesel vehicles. This change directly affects local governments seeking to finance EV fleets through municipal bonds. The key mechanism adjusts how these vehicles are counted in bond repayment calculations, recognizing their unique energy source without altering vehicle purchase requirements.