Establishes Renewable and Efficient Energy Financing Program; authorizes BPU to transfer up to $20 million annually in societal benefits charge revenues to New Jersey Infrastructure Bank for purposes of program.
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Progress
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- Introduced
- Passed Senate
- Passed General Assembly
- To Governor
- Became Law
Overview
This bill establishes the Renewable and Efficient Energy Financing (REEF) program within the New Jersey Infrastructure Bank. The program aims to provide loans and financial assistance to State entities, local units, and school districts for cost-effective energy efficiency improvements in buildings and property. It also authorizes the New Jersey Board of Public Utilities to transfer up to $20 million annually from societal benefits charges to the NJIB to fund the program, and establishes a dedicated fund for REEF program activities.
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