Bill > S3472

This bill makes various changes to the powers and duties of the New Jersey Infrastructure Bank. Key provisions include: - Establishing a "Community Hazard Assistance Mitigation Program" within the Bank to fund hazard mitigation and resilience projects for the State, local government units, and nonprofit organizations in accordance with the federal STORM Act. - Allowing the Bank to provide loans, grants, and other financial assistance for these hazard mitigation and resilience projects, including through a revolving loan fund. - Expanding the Bank's authority to issue bonds, notes, and other obligations to finance a broader range of projects, including transportation, aviation, and marine projects in addition to environmental infrastructure projects. - Increasing the maximum maturity periods for certain loans made by the Bank. - Making other technical and administrative changes to the Bank's operations and financing programs.

Budget and Finance

https://www.njleg.state.nj.us/bill-search/2024/S3472