The Legislature has approved a bill that includes an annual 2-cent gas tax hike for the next five years and a new registration fee for electric vehicles, sending the measure to the governor’s desk for his approval. According to the Press of Atlantic City, the bill would reauthorize the transportation trust fund, which is used as a funding source for highway and transit projects and was set to expire June 30, until fiscal year 2029. The legislation would change the state’s gas tax formula beginning July 1, with the goal of raising $2.4 billion in new revenue over the next five years.