Authorizes NJ Infrastructure Bank to expend certain sums to make loans for transportation infrastructure projects for FY2027; makes appropriation.
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Progress
Where this bill stands in the legislative process.
- Introduced
- Passed General Assembly
- Passed Senate
- To Governor
- Became Law
Overview
This bill allows the New Jersey Infrastructure Bank (NJIB) to lend money to local governments for transportation projects in Fiscal Year 2027. Specifically, the NJIB is authorized to spend up to $65.55 million on these loans, and can also offer loans with some principal forgiveness for planning and design. The bill also directs the NJIB to use loan repayments and other funds to cover its operating expenses and fund the transportation infrastructure financing program. Finally, it includes an appropriation from the state’s general fund to support the bank’s activities.
Bill text
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Sponsors
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12 on record
Primary sponsors
Cosponsors
Anthony Bucco
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