Bill > S2594

This bill appropriates a total of $28,670,924 from two separate bond acts to provide loans for dam restoration and repair projects and inland waters projects across New Jersey. Specifically, the bill allocates $22,431,294 from the 2003 "Dam, Lake, Stream, Flood Control, Water Resources, and Wastewater Treatment Project Bond Act" and $6,239,630 from the 1992 "Green Acres, Clean Water, Farmland and Historic Preservation Bond Act". The funds will be used to provide loans to local government units, private lake associations, and private dam owners to help finance dam restoration, repair, and inland waters projects. The bill includes a detailed list of specific projects receiving funding, such as dams at High Crest Lake, Mount Glen, Lake Winona, and others, with loan amounts ranging from $100,000 to $4,700,000. The bill also stipulates that any unexpended funds will be returned to their respective trust funds for future projects, and any changes to project sponsors or sites require approval from the Joint Budget Oversight Committee. The bill extends the availability of these funds until June 30, 2024, and takes effect immediately upon enactment.

Agriculture and Natural Resources

https://www.njleg.state.nj.us/bill-search/2024/S2594