Bill > A5977

This bill amends the state's environmental infrastructure funding program for fiscal year 2026, updating the lists of clean water and drinking water projects eligible for loans and adjusting loan amounts and project priorities. The bill revises the original law passed in July 2025 that appropriated funds to the Department of Environmental Protection (DEP) for financing environmental infrastructure projects. The total appropriation is increased from $2.4 billion to $2.69 billion, with funding for 225 eligible environmental infrastructure projects, including 142 clean water projects and 76 drinking water projects. The bill allows for zero-interest and principal-forgiveness loans to project sponsors, with various provisions for reducing loan interest rates based on project type, municipal affordability, and specific project characteristics such as addressing emerging contaminants, combined sewer overflows, or lead service line replacements. The loans can be used for projects ranging from water quality restoration and stormwater management to drinking water system improvements and lead service line replacements. The bill provides flexibility for the DEP to adjust loan amounts, prioritize projects, and establish specific terms and conditions for loan disbursement, with loans to be repaid within 30 to 45 years depending on the project type. The funding aims to support infrastructure improvements, environmental protection, and water system upgrades across various municipalities and utilities in New Jersey.

Agriculture and Natural Resources, Budget and Finance

https://www.njleg.state.nj.us/bill-search/2024/A5977