NJ A4478

Authorizes the New Jersey Infrastructure Bank to expend $53,883,706 to make loans to local governments for transportation infrastructure projects in State Fiscal Year 2025

Funds 14 specific transportation projects across New Jersey, including bridge replacements, road improvements, pedestrian infrastructure, and traffic signal upgrades in municipalities such as Bayonne, Hoboken, Princeton, and Atlantic County

Permits the bank to increase loan amounts to cover capitalized interest, bond issuance expenses, debt service reserve fund costs, and loan origination fees

Requires loans to be repaid within 31 years and to bear interest at or below the rate paid by the bank on bonds issued to fund the loans

Establishes that project eligibility and loan authorization expires on July 1, 2025, and appropriates funds for the Disaster Relief Emergency Financing Program to provide short-term loans for transportation projects