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

This bill exempts fuel used for school buses transporting students to or from school or school events from New Jersey's petroleum products gross receipts tax and motor fuel tax. It directly affects school districts, religious/charitable organizations operating school buses, and contractors providing school transportation services under public agency contracts. To qualify, organizations must pay the tax at purchase and apply for a refund with proof of payment, following the same process required for other exempt fuel uses. The exemption applies to buses defined as "school buses" under New Jersey law (R.S.39:1-1), which includes specific types of school transportation vehicles. The bill takes effect immediately but applies to fuel used starting the first day of the month following enactment.