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Bill > A4581
NJ A4581
NJ A4581Authorizes NJ Infrastructure Bank to expend certain sums to make loans for Community Hazard Assistance Mitigation Program projects for FY 2025.
summary
Introduced
06/13/2024
06/13/2024
In Committee
06/26/2024
06/26/2024
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 of certain hazard mitigation and resilience projects.
AI Summary
This bill authorizes the New Jersey Infrastructure Bank (NJIB) to expend up to $7.2 million to make loans for the Community Hazard Assistance Mitigation Program (CHAMP) projects in fiscal year 2025. The bill lists the specific CHAMP projects eligible for these loans, including hazard mitigation and resilience projects in Jersey City, Hoboken, Stafford Township, Bergen County, Rochelle Park Township, and Marlboro Township. The bill also outlines the terms and conditions for the loans, such as the loan repayment period, interest rates, and the bank's ability to adjust loan amounts as needed. Additionally, the bill allows the NJIB to use various funds generated from its operations to cover the bank's annual operating expenses.
Committee Categories
Agriculture and Natural Resources
Sponsors (6)
Shama Haider (D)*,
Raj Mukherji (D)*,
Declan O'Scanlon (R)*,
William Sampson (D)*,
Chris Tully (D)*,
Shanique Speight (D),
Last Action
Approved P.L.2024, c.45. (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/A4581 |
| BillText | https://pub.njleg.gov/Bills/2024/PL24/45_.HTM |
| BillText | https://pub.njleg.gov/Bills/2024/AL24/45_.HTM |
| Analysis - Statement ABU 6/26/24 | https://pub.njleg.gov/Bills/2024/A5000/4581_S1.PDF |
| BillText | https://pub.njleg.gov/Bills/2024/A5000/4581_I1.HTM |
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