Bill > A3951

This bill appropriates a total of $28,670,924 from two different bond act funds to provide loans for dam restoration, repair, and inland waters projects in New Jersey. Specifically, $22,431,294 is allocated from the 2003 Dam, Lake and Stream Project Revolving Loan Fund for 11 different dam-related projects, including loans to private dam owners, lake associations, and local government units for projects at locations like High Crest Lake Dam, Mount Glen Dam, and Lake Winona Dam. An additional $6,239,630 is allocated from the 1992 Dam Restoration and Clean Water Trust Fund for four more dam projects, including loans to entities like Mountain Creek Resort and Lake Garrison, Inc. The bill allows for administrative costs, requires any unused funds to be returned to their respective funds, and stipulates that any significant changes to project sponsors or sites must be approved by the Joint Budget Oversight Committee. The funds can be used to help local government units and private organizations finance the costs of dam restoration, repair, and related inland waters projects. The appropriations are valid through June 30, 2024, and the act takes effect immediately upon passage.

Agriculture and Natural Resources

https://www.njleg.state.nj.us/bill-search/2024/A3951