Imposes 30 percent electric public utility windfall surtax on certain taxpayers with allocated taxable net income in excess of 20 percent above five-year average income under CBT.

This bill (S 4592) imposes a 30% surtax on electric public utilities in New Jersey that earn "windfall profits" - defined as taxable income exceeding 20% above their five-year average. The surtax applies to utilities subject to New Jersey's Corporation Business Tax and is calculated on the excess income amount. All revenue collected from this surtax must be distributed back to the utility's ratepayers (customers) proportionally, with no credits allowed against the surtax except for specific payment adjustments. This policy directly affects electric utilities and returns funds to their customers, rather than adding to state general revenue.