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  • NJ A2402
  • "Stormwater Management and Combined Sewer Overflow Abatement Bond Act of 2016," authorizes bonds for $50,000,000, and appropriates $5,000.
Introduced
(2/4/2016)
In Committee
(2/4/2016)
Crossed OverPassedSignedDead/Failed/Vetoed
2016-2017 Regular Session
This bill, entitled the "Stormwater Management and Combined Sewer Overflow Abatement Bond Act of 2016," authorizes the issuance of $50,000,000 in State general obligation bonds for the purpose of providing grants or loans to local government units to finance the costs of stormwater management and combined sewer overflow abatement projects. The Commissioner of Environmental Protection is required to prepare an annual priority list of eligible projects. Of the $50 million in bonds authorized under this bill: (1) Not less than $45 million is allocated to the Department of Environmental Protection for the purposes of providing grants or low or zero interest loans to local government units for the costs of stormwater management and combined sewer overflow abatement projects; and (2) No more than $5 million is allocated for payment to, and use by, the New Jersey Environmental Infrastructure Trust in establishing reserves and providing loan guarantees for the financing of stormwater management and combined sewer overflow abatement projects under the annual New Jersey Environmental Infrastructure Financing Program. The Commissioner must develop, on or before January 15 of each year, a priority system for stormwater management system and combined sewer overflow abatement projects and submit a project priority list to the Legislature. The Commissioner must set forth a stormwater management system and combined sewer overflow abatement project priority list for funding for each fiscal year and include the aggregate amount of funds to be authorized for these purposes. No bond moneys may be expended for grants or loans in a fiscal year for any stormwater management system or combined sewer overflow abatement project unless the expenditure is authorized pursuant to a legislative appropriations act. The bill provides that the bond act is to be submitted to the people for approval at the general election to be held at least 70 days after enactment and appropriates $5,000 to the Department of State for expenses in connection with the publication of the public question.
Environment and Solid Waste
Introduced, Referred to Assembly Environment and Solid Waste Committee  (on 2/4/2016)
 
 
Date Chamber Action Description
2/4/2016 A Introduced, Referred to Assembly Environment and Solid Waste Committee
Date Motion Yea Nay Other
None specified