ASSEMBLY STATE AND LOCAL GOVERNMENT COMMITTEE

STATEMENT TO

ASSEMBLY, No. 4959

with committee amendments

STATE OF NEW JERSEY

DATED:  JUNE 15, 2026

      The Assembly State and Local Government Committee reports favorably and with committee amendments Assembly Bill No. 4959.

      As amended and reported by the committee, this bill, which is designated as the “Affordable Power Purchase Agreements Extension Act,” amends current law regarding renewable energy power purchase agreements (energy contracts).  Under current law, certain public entities are authorized to enter into energy contracts for a term not to exceed 15 years.  The bill authorizes certain public entities to extend, without public advertising for bids and bidding, existing energy contracts for a term not to exceed 30 years in the aggregate.

COMMITTEE AMENDMENTS:

      The committee amended the bill to make technical changes to reflect current law.