Imposes additional annual registration fee for electric vehicles; reduces rate of highway fuel taxes; authorizes DOT to conduct alternative revenue feasibility study.

This bill imposes new annual registration fees for electric vehicles in New Jersey: $300 for passenger EVs and $450 for commercial EVs starting July 2025, collected by the Motor Vehicle Commission. It reduces highway fuel tax rates from 10.5¢ to 7¢ per gallon for gasoline and 13.5¢ to 9¢ for diesel fuel. All fees and tax revenues will fund the state's Transportation Trust Fund. The bill also authorizes the Department of Transportation to conduct a study on alternative revenue sources for transportation infrastructure.