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  • NJ A3883
  • Authorizes New Jersey Environmental Infrastructure Trust to expend certain sums to make loans for environmental infrastructure projects for FY2017.
Introduced
(6/20/2016)
In Committee
(6/23/2016)
Crossed Over
(6/27/2016)
Passed
(6/27/2016)
Signed
(8/18/2016)
Dead/Failed/Vetoed
2016-2017 Regular Session
This bill authorizes the New Jersey Environmental Infrastructure Trust (Trust) to expend up to $411.35 million and any unexpended balances from previous authorizations to provide loans with an interest rate at or below the prevailing market rate to project sponsors (primarily local governments, public authorities, or public water utilities) for a portion of the total costs of 80 eligible environmental infrastructure projects. The eligible projects are those included in the "Storm Sandy and State Fiscal Year 2017 Clean Water Project Eligibility List" and the "Storm Sandy and State Fiscal Year 2017 Drinking Water Project Priority List," as well as six clean water projects and two drinking water environmental infrastructure projects that received loans in the past and which now require supplemental loans in order to meet actual costs. In addition to the use of prior unused allocations, this bill also permits the Trust to use any loan repayments received to date, and the amounts for capitalized interest, bond issuance expenses and related amounts, to fund the State Fiscal Year 2017 New Jersey Environmental Infrastructure Financing Program (NJEIFP). Since its creation in 1985, the Trust in partnership with the Department of Environmental Protection have provided low‑cost NJEIFP loans for the construction of environmental infrastructure projects that enhance and protect ground and surface water resources, ensure the safety of drinking water supplies, and make possible responsible and sustainable economic development. Since 1985, NJEIFP loans to local government units and some private water companies have totaled more than $6.5 billion of which the Trust has provided more than $2.7 billion in loans to finance wastewater systems, combined sewer overflow abatement, nonpoint source pollution control and safe drinking water supplies generating more than 130,000 construction projects throughout the State.
2nd Reading in the Assembly, Bills and Joint Resolutions Signed by the Governor, Budget, Passed both Houses
Approved P.L.2016, c.31.  (on 8/18/2016)
 
 

Date Chamber Action Description
8/18/2016 S Approved P.L.2016, c.31.
6/27/2016 S Passed Senate (Passed Both Houses) (39-0)
6/27/2016 S Substituted for S2292 (2R)
6/27/2016 S Received in the Senate without Reference, 2nd Reading
6/27/2016 A Passed by the Assembly (78-0-0)
6/23/2016 A Reported out of Assembly Comm. with Amendments, 2nd Reading
6/23/2016 Assembly Budget Hearing (10:00 6/23/2016 Committee Room 11, 4th Floor)
6/20/2016 A Introduced, Referred to Assembly Budget Committee
Date Motion Yea Nay Other
Detail 6/27/2016 Assembly Floor: Third Reading - Final Passage 78 0 2
Detail 6/27/2016 Senate Floor: Third Reading - Final Passage 39 0 1
Detail 6/27/2016 Senate Floor: Substitute For S2292 (Voice Vote) 0 0 0
Detail 6/23/2016 Assembly Budget Committee: Reported with Amendments 13 0 0