Bill > A5122

This bill amends lists of environmental infrastructure projects approved for long-term funding by the Department of Environmental Protection (DEP) under the fiscal year 2025 environmental infrastructure funding program. The bill makes several key changes, including modifying the lists of clean water and drinking water projects eligible for loans, adjusting loan amounts for specific municipalities and utilities, and establishing conditions for loan approvals. Key provisions include: authorizing the DEP to make zero-interest and principal-forgiveness loans to project sponsors for clean water and drinking water infrastructure projects, with loan amounts ranging from partial to full coverage depending on factors like project type, municipal financial status, and affordability; allowing loan adjustments based on final building costs or additional project requirements; setting expiration of project eligibility to July 1, 2025; and providing flexibility for the DEP Commissioner to reduce or increase individual loan amounts within certain parameters. The bill also addresses funding from various sources including state revolving funds, federal infrastructure and disaster relief programs, and allows for loan repayment and administrative fee management by the New Jersey Infrastructure Bank.

Agriculture and Natural Resources, Budget and Finance

https://www.njleg.state.nj.us/bill-search/2024/A5122