Exempts fuel used for operation of certain school buses from petroleum products gross receipts tax and motor fuel tax; clarifies tax treatment of certain dyed fuel thereunder; clarifies determination of taxable estates of certain decedents.

This bill exempts fuel used to operate school buses for transporting students to and from school or school activities from two state taxes: the petroleum products gross receipts tax and the motor fuel tax. It specifically applies to school buses operated by public school districts, religious or charitable organizations, or contractors working with government agencies. The bill also clarifies how certain dyed fuel (used for non-highway purposes) is taxed and updates rules for determining taxable estates of some residents. These changes directly affect school districts, nonprofit organizations, and contractors managing student transportation services in New Jersey.