Bill > S3314

Introduced Session

This bill directs the New Jersey Infrastructure Bank (NJIB) (formerly the New Jersey Environmental Infrastructure Trust) to establish incentives for entities that, where feasible, employ applicants that reside in the municipality in which an environmental infrastructure project is located or in the service area for the project. The incentive may include, but is not limited to, priority in the ranking criteria or prioritization methodology for projects or a financial incentive such as principal forgiveness. Under current law, the NJIB requires a local government unit which receives a loan or guarantee for a project to establish an affirmative action program for the hiring of minority workers in the performance of any construction contract for that project and to establish a program to provide opportunities for socially and economically disadvantaged contractors and vendors to supply materials and services for the contract, consistent with the provisions of the "Law Against Discrimination." Since its creation in 1985, the NJIB, in partnership with the Department of Environmental Protection, has provided low-cost New Jersey Environmental Infrastructure Financing Program (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 $7.13 billion of which the NJIB has provided more than $2.9 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.

AI Summary

Committee Categories

Nellie Pou (D)*,  Troy Singleton (D)*,  Teresa Ruiz (D),  Shirley Turner (D), 

Substituted by A5018 (2R) (on 12/20/2021)

Official Document