Bill > S3251

Introduced Session

This bill would make several changes to P.L.1985, c.334 (C.58:11B-1 et seq.), the enabling act for the New Jersey Infrastructure Bank (I-Bank). Specifically, the bill would add a definition of "cross-investment," in order to standardize the use of the term across the I-Bank's enabling act. As defined by the bill, "cross-investment" means the investment of funds of one financing program established and implemented by the I-Bank in a bond, note, or other obligation issued by another financing program established and implemented by the I-Bank. The bill would also provide that the I-Bank is authorized to purchase bonds, note, and other obligations at its discretion if the purchase is in connection with a cross-investment. The bill would also clarify that a $10 billion statutory limit on the indebtedness of the I-Bank refers to the total outstanding debt of the I-Bank at a given time, not to the cumulative amount of debt that the I-Bank has incurred since its inception. Finally, the bill would clarify that the I-Bank is authorized to provide loans and provide other assistance to wastewater, water supply, and onsite wastewater treatment projects, rather than to provide loans only.

AI Summary

Committee Categories

Linda Greenstein (D)*,  John McKeon (D)*, 

Received in the Assembly, Referred to Assembly Environment and Solid Waste Committee (on 02/24/2026)

Official Document