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 Senate
- Passed General Assembly
- 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 principal forgiveness for planning and design. Repayments from these loans, along with interest and bond issuance expenses, can be used to fund the NJIB's operating costs. The bill also includes an appropriation of funds from the state’s general fund to support the bank’s activities.
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