Bill > S3539

Introduced Session

This bill would authorize the New Jersey Environmental Infrastructure Trust (NJEIT) to expend additional sums to make loans for environmental infrastructure projects for Fiscal Year 2018. In July 2017, P.L.2017, c.142 was enacted into law, which authorized the NJEIT to expend up to $539.52 million, and any unexpended balances from previous authorizations, to provide low-interest and market-rate loans to project sponsors (primarily local governments, public authorities, or public water utilities) for a portion of the total costs of 77 eligible environmental infrastructure projects for Fiscal Year 2018. This included 42 projects from the "Storm Sandy and State Fiscal Year 2018 Clean Water Project Eligibility List" and 28 projects from the "Storm Sandy and State Fiscal Year 2018 Drinking Water Project Eligibility List." The NJEIT was also authorized under P.L.2017, c.142 to provide supplemental loans to six clean water projects and one drinking water project that received loans in the past and which require supplemental loans in order to meet actual costs. This bill would amend the lists of environmental infrastructure projects for which the NJEIT is authorized to make loans in P.L.2017, c.142 to include new projects and revise allowable loan amounts for already approved projects. Thus, under the bill, the NJEIT would be authorized to expend up to $833.10 million, and any unexpended balances from previous authorizations, to provide loans to project sponsors for a total of 130 eligible environmental infrastructure projects for Fiscal Year 2018. This would include 77 projects on the "Storm Sandy and State Fiscal Year 2018 Clean Water Project Eligibility List" and 46 projects on the "Storm Sandy and State Fiscal Year 2018 Drinking Water Project Eligibility List." The NJEIT would also be authorized to make supplemental loans to six clean water environmental infrastructure projects and one drinking water environmental infrastructure project. Certain projects have been removed from the list of projects for which the NJEIT is authorized to make loans either because they have already received long-term funding or because the projects will not be ready to receive funding before the end of Fiscal Year 2018 under NJEIT program requirements.

AI Summary

Committee Categories

Daniel Benson (D)*,  Ralph Caputo (D)*,  Annette Chaparro (D)*,  Nicholas Chiaravalloti (D)*,  Richard Codey (D)*,  Angelica Jimenez (D)*,  R. Bruce Land (D)*,  Bob Smith (D)*,  John Wisniewski (D)*,  Christopher Bateman (R),  Jon Bramnick (R),  Chris Brown (R),  Jack Ciattarelli (R),  Robert Clifton (R),  Ronald Dancer (R),  BettyLou DeCroce (R),  John DiMaio (R),  DiAnne Gove (R),  Amy Handlin (R),  Joe Howarth (R),  Sean Kean (R),  Greg McGuckin (R),  Nancy Muñoz (R),  Declan O'Scanlon (R),  Erik Peterson (R),  Maria Rodriguez-Gregg (R),  Kevin Rooney (R),  David Russo (R),  Parker Space (R),  Samuel Thompson (D),  Edward Thomson (R),  Shirley Turner (D),  Jay Webber (R),  David Wolfe (R), 

Passed Senate (Passed Both Houses) (37-0) (on 01/08/2018)

Official Document