S 3251
Makes various changes to New Jersey Infrastructure Bank's enabling act.
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Bill overview
This bill modifies the New Jersey Infrastructure Bank’s enabling act to provide greater clarity and flexibility in its operations. It defines ‘cross-investment,’ which refers to the I-Bank investing in its own financing programs, and clarifies that the bank’s debt limit is based on current outstanding debt, not cumulative debt. The bill also expands the types of projects the I-Bank can support to include wastewater, water supply, and onsite wastewater treatment, broadening its lending authority beyond just loans.
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