Bill
Bill > S1608
NJ S1608
NJ S1608Requires DEP and New Jersey Infrastructure Bank to provide priority for principal forgiveness on environmental infrastructure project loans to municipalities in coastal areas.
summary
Introduced
01/13/2026
01/13/2026
In Committee
01/13/2026
01/13/2026
Crossed Over
Passed
Dead
Introduced Session
2026-2027 Regular Session
Bill Summary
This bill would requires the Department of Environmental Protection (DEP) and the New Jersey Infrastructure Bank (I-Bank) to provide priority for principal forgiveness on environmental infrastructure project loans to municipalities in coastal areas. The DEP and the I-Bank finance the State's Water Bank program, which provides financing, in the form of low-interest loans, often with a certain amount of principal forgiveness, in support of wastewater and drinking water projects throughout the State.
AI Summary
This bill requires the Department of Environmental Protection (DEP) and the New Jersey Infrastructure Bank (I-Bank), which together manage the State's Water Bank program that provides low-interest loans for wastewater and drinking water projects, to prioritize principal forgiveness for municipalities located in coastal areas. Principal forgiveness means that a portion of the loan amount does not need to be repaid. The bill defines "coastal area" by referencing an existing definition in state law, ensuring clarity on which municipalities are eligible for this priority.
Committee Categories
Agriculture and Natural Resources
Sponsors (1)
Last Action
Introduced in the Senate, Referred to Senate Environment and Energy Committee (on 01/13/2026)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://www.njleg.state.nj.us/bill-search/2026/S1608 |
| BillText | https://pub.njleg.gov/Bills/2026/S2000/1608_I1.HTM |
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