Withdraws New Jersey's participation in Regional Greenhouse Gas Initiative; repeals "Global Warming Response Act" and related sections of Regional Greenhouse Gas Initiative implementing law.

This bill removes New Jersey from the Regional Greenhouse Gas Initiative and repeals the state's Global Warming Response Act. It directs money currently held in the Global Warming Solutions Fund to the General Fund for use in providing relief to ratepayers. Additionally, the legislation amends existing laws to establish a Forest Stewardship Incentive Fund for managing state forests and creates a three-year program to test the reliability and cost of electric school buses.