"Utility Rate Recovery Fairness Act"; prohibits electric public utilities and gas public utilities from recovering certain costs.

This bill, known as the Utility Rate Recovery Fairness Act, prevents electric and gas public utilities in New Jersey from passing specific operational costs onto their customers. Under the new rules, utilities cannot include charges for legal fees, expert witness costs, employee salaries related to rate disputes, lobbying expenses, trade association dues, or executive travel in the rates they bill consumers. The New Jersey Board of Public Utilities will be responsible for creating regulations to enforce these restrictions, which take effect immediately upon passage.