Bill > S3879

This bill amends the lists of environmental infrastructure projects eligible to receive loans from the New Jersey Infrastructure Bank for fiscal year 2025. Specifically, it provides detailed authorization for the Infrastructure Bank to make loans for two types of projects: clean water projects and drinking water projects. The bill includes comprehensive lists of project sponsors, project numbers, and estimated loan amounts for both clean water (152 projects totaling approximately $1.39 billion) and drinking water (67 projects totaling approximately $442.9 million) infrastructure improvements. The bill authorizes the bank to adjust loan amounts based on final building costs, increase loan amounts for various expenses like capitalized interest and issuance costs, and provides specific conditions for loan eligibility, such as loan repayment periods not exceeding 30-35 years. The legislation also allows the bank to make short-term or temporary loans up to $1.5 billion through its Interim Environmental Financing Program, with projects prioritized on a list submitted to the Legislature. The bill is part of New Jersey's ongoing efforts to fund critical water infrastructure improvements across the state, with a focus on upgrading and maintaining water treatment, supply, and related environmental infrastructure.

Agriculture and Natural Resources

https://www.njleg.state.nj.us/bill-search/2024/S3879