Bill > S4308

Introduced Session

This bill authorizes the New Jersey Infrastructure Bank (NJIB) to expend up to $65,550,000 in Fiscal Year 2027 (FY2027) to provide low-interest loans to certain local government units that undertake one of 15 eligible transportation infrastructure projects set forth in the bill. The bill also authorizes the NJIB to make a maximum of $1 million in principal-forgiveness financing loans to project sponsors for planning and design costs. Under the bill, up to $100,000 of a loan, per borrower, is to be forgiven for a project where a principal amount of at least $250,000 is financed by the Transportation Infrastructure Financing Program through completion of the project's construction. Additionally, the bill permits the NJIB to use any loan repayments received to date, and the amounts for capitalized interest, interest accrued pursuant to a short-term or temporary loan made to a project sponsor pursuant to the Interim Transportation Financing Program, bond issuance expenses, and related amounts, to fund the FY2027 New Jersey Transportation Infrastructure Financing Program (NJTIB). The bill also authorizes the NJIB to utilize certain funds generated by the operation of the bank, including, but not limited to, proceeds from the sale of bonds, the revenues derived from investments, and loan repayments, to defray the NJIB's FY2027 operating expenses. Finally, the bill appropriates certain funds from the General Fund to the NJIB. Since its creation in 2018, the NJIB, in partnership with the Department of Transportation, has provided low-cost NJTIB loans for the construction of critical transportation infrastructure projects with the mission of reducing the cost of financing for New Jersey counties and municipalities and making possible responsible and sustainable economic development.

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Patrick Diegnan (D)*,  Raj Mukherji (D)*, 

Reported from Senate Committee, 2nd Reading (on 06/01/2026)

Official Document