Electric School Bus Lease and Purchase Authorization

A school district may enter into lease purchase agreements for electric school buses and related charging equipment that last the service life of the vehicle. School districts may purchase leased school buses and related equipment at any point during the lease or when the lease ends, with credit towards the overall purchase price.

(Reference New Jersey Statutes 18A:18A-42 and 18A:20-4.2 and Assembly Bill 1677, 2024)