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Bill > A4478
NJ A4478
NJ A4478Authorizes NJ Infrastructure Bank to expend certain sums to make loans for transportation infrastructure projects for FY2025; makes appropriation.
summary
Introduced
06/03/2024
06/03/2024
In Committee
06/24/2024
06/24/2024
Crossed Over
06/28/2024
06/28/2024
Passed
06/28/2024
06/28/2024
Dead
Signed/Enacted/Adopted
07/10/2024
07/10/2024
Introduced Session
2024-2025 Regular Session
Bill Summary
An Act authorizing the expenditure of funds by the New Jersey Infrastructure Bank for the purpose of making loans to eligible project sponsors to finance the cost to construct transportation infrastructure projects, and making an appropriation.
AI Summary
This bill authorizes the New Jersey Infrastructure Bank to expend up to $53,883,706 to make loans for various transportation infrastructure projects in fiscal year 2025. The bill also allows the bank to increase the loan amounts to cover certain expenses like capitalized interest, issuance costs, reserve capacity, and loan origination fees. The bill specifies the eligible transportation projects and sets out the requirements for the loans, such as the repayment period and interest rates. The bill also appropriates funds to the bank for a Disaster Relief Emergency Financing Program to provide short-term or temporary loans to the project sponsors.
Committee Categories
Budget and Finance, Transportation and Infrastructure
Sponsors (14)
John Burzichelli (D)*,
Clinton Calabrese (D)*,
Robert Karabinchak (D)*,
Benjie Wimberly (D)*,
Linda Carter (D),
Mitchelle Drulis (D),
Roy Freiman (D),
Carol Murphy (D),
Verlina Reynolds-Jackson (D),
Shanique Speight (D),
Sterley Stanley (D),
Shavonda Sumter (D),
Lisa Swain (D),
Chris Tully (D),
Last Action
Approved P.L.2024, c.43. (on 07/10/2024)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://www.njleg.state.nj.us/bill-search/2024/A4478 |
| BillText | https://pub.njleg.gov/Bills/2024/PL24/43_.HTM |
| BillText | https://pub.njleg.gov/Bills/2024/AL24/43_.HTM |
| Analysis - Statement AAP 6/24/24 | https://pub.njleg.gov/Bills/2024/A4500/4478_S2.PDF |
| Analysis - Statement ATR 6/6/24 | https://pub.njleg.gov/Bills/2024/A4500/4478_S1.PDF |
| BillText | https://pub.njleg.gov/Bills/2024/A4500/4478_I1.HTM |
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