S 3400
Directs EDA to establish New Jersey Energy Independence Bank.
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- Passed Senate
- Passed General Assembly
- To Governor
- Became Law
Bill overview
This bill directs the New Jersey Economic Development Authority (EDA) to establish the New Jersey Energy Independence Bank. This bank will provide financial assistance to support environmentally beneficial energy projects, such as renewable energy facilities, energy efficiency upgrades, and electric vehicle infrastructure. The bank will be a subsidiary of the EDA and will leverage public funds to attract private investment in these projects. It also transfers the Green Bank’s assets and staff to the new bank.
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