Authorizes NJ Infrastructure Bank to expend certain sums to make loans for environmental infrastructure projects for FY2027.
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Progress
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- Introduced
- Passed General Assembly
- Passed Senate
- To Governor
- Became Law
Overview
This bill authorizes the New Jersey Infrastructure Bank (NJIB) to lend up to $3.85 billion to local governments and water companies for environmental infrastructure projects in fiscal year 2027. Specifically, it will fund 12 water discharge/treatment projects needing supplemental loans, 4 drinking water system projects, projects in the Pinelands area, and a large number of projects listed as eligible under the Storm Sandy and State Fiscal Year 2027 Clean Water Project Eligibility List. The bill also provides funding for short-term loans and establishes requirements for loan terms and transfers between state funds to support federal environmental programs.
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