Prohibits public utility from recovering certain administrative costs.

This bill prohibits New Jersey public utilities from including certain administrative costs in their rates charged to customers. It specifically blocks the Board of Public Utilities from approving requests to recover costs like personnel salaries, IT expenses, office supplies, and legal fees through customer bills. The bill defines "administrative costs" as payments made for utility service that aren't recovered as capital expenses. This directly affects utility companies by restricting how they recoup these operational expenses, and it protects ratepayers from potential bill increases tied to these costs. The law takes effect immediately upon passage.