Bill > A5123

This bill amends the lists of environmental infrastructure projects eligible to receive loans from the New Jersey Infrastructure Bank for fiscal year 2025, making several key changes to the project funding landscape. The bill adjusts the total number and funding amounts for both clean water and drinking water infrastructure projects across various municipalities and utilities in New Jersey. Specifically, the bill reduces the total number of clean water projects from 156 to 152 and decreases the total estimated loan amount, and reduces the number of drinking water projects from 72 to 67 while significantly lowering the total estimated loan amount. The bill adds some new projects, such as a Jersey City MUA clean water project and projects for municipalities like Glen Ridge Borough, Island Heights Borough, and Pompton Lakes MUA, while removing others. The legislation maintains the Infrastructure Bank's authorization to adjust loan amounts based on various factors like capitalized interest, issuance expenses, and reserve capacity expenses. The bill also sets an expiration date of July 1, 2025, for the loan authorizations, after which project sponsors who have not executed a loan agreement will no longer be entitled to their allocated funds. The changes reflect ongoing efforts to manage and prioritize environmental infrastructure investments across New Jersey.

Agriculture and Natural Resources, Budget and Finance

https://www.njleg.state.nj.us/bill-search/2024/A5123