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Bill > A595
NJ A595
NJ A595Prioritizes investment of State administered pension funds in in-state infrastructure project investments over comparable out-of-state infrastructure project investments.
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 requires the Director of the Division of Investment in the Department of Treasury to prioritize the investment or reinvestment of the assets of any pension or annuity fund under the jurisdiction of the division in an in-state infrastructure project over a comparable out-of-state project. The condition of infrastructure in the US, including New Jersey, is deteriorating. While the US is facing major challenges in maintaining investments in infrastructure across the country, some states are investing pension funds in in-state infrastructure projects. In 2014, the California Public Employees' Retirement System invested $107 million in seven California-based infrastructure projects, which supported 1,300 jobs in California. California prioritizes these in-state investments only if the investment is a prudent investment. Currently in New Jersey, the Director of the Division of Investment is authorized to invest State administered pension funds in infrastructure. With this bill, if the State is to invest in infrastructure, the State would prioritize in-state infrastructure projects instead of investing those funds in comparable out-of-state projects. The bill provides an opportunity for the State to not only receive a comparable return on its investments in in-state infrastructure, but would improve the condition of State infrastructure in doing so.
AI Summary
This bill requires the Director of the Division of Investment in the Department of the Treasury to prioritize investing state-administered pension funds in infrastructure projects located within the state over similar projects located outside the state, provided these investments are prudent and align with the director's fiduciary duties, which means acting in the best financial interest of the pension fund beneficiaries. Infrastructure is broadly defined to include tangible physical systems like utilities, energy, transportation, airports, environmental, technological, and educational facilities. This change aims to improve the condition of New Jersey's infrastructure while potentially generating comparable investment returns, similar to how other states like California have invested their pension funds in local projects to support jobs and development.
Committee Categories
Government Affairs
Sponsors (1)
Last Action
Introduced, Referred to Assembly State and Local Government 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/A595 |
| BillText | https://pub.njleg.gov/Bills/2026/A1000/595_I1.HTM |
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