Bill > A760

This bill amends the Local Bond Law to eliminate the requirement for local governments to set aside a five percent down payment when issuing bonds for hazard mitigation and resilience projects, which are initiatives aimed at protecting communities from natural disasters and improving their ability to withstand them. Additionally, local governments will no longer need to seek approval from the Local Finance Board, a state agency that oversees municipal finance, regarding the repayment schedule (maturity and annual installment payments) for these specific types of projects when financed through loans from the "New Jersey Infrastructure Bank" or the State Department of Environmental Protection. The bill also includes minor technical corrections to existing laws.

Government Affairs

https://www.njleg.state.nj.us/bill-search/2026/A760