Bill > A5252

This bill authorizes the issuance of $400 million in state general obligation bonds to address lead contamination in drinking water infrastructure across New Jersey. Specifically, $200 million will be allocated as grants to homeowners and schools for lead plumbing replacement projects, and $200 million will be established as a revolving loan fund for water systems, schools, and businesses to replace lead service lines and internal plumbing. The bill highlights the significant health risks of lead exposure, noting that 20% of lead exposure comes from drinking water and that over 3,000 New Jersey children were found to have elevated blood lead levels in 2022. The bonds will be issued as serial or term bonds, maturing within 35 years, and will be subject to voter approval through a general election referendum. The Commissioner of Environmental Protection will establish procedures and eligibility criteria for grants and loans, and the state's faith and credit are pledged to repay the bonds. The bill requires annual reporting on fund expenditures and includes provisions for how the bond proceeds will be managed, invested, and used to finance lead plumbing replacement projects across the state.

Agriculture and Natural Resources

https://www.njleg.state.nj.us/bill-search/2024/A5252