NJ A4540

Removes existing exemptions in the Commercial Property Assessed Clean Energy (C-PACE) program that excluded C-PACE financing from being classified as "authority financial assistance"

Requires all workers on C-PACE-financed projects to be paid the prevailing wage rate as determined by the Commissioner of Labor and Workforce Development

Applies to direct financing provided by capital providers for C-PACE projects, including renewable energy, energy efficiency, water conservation, and resiliency-related improvements

Amends P.L.2021, c.201 to expressly classify C-PACE financing as "authority financial assistance" under section 1 of P.L.1979, c.303 (C.34:1B-5.1)

Takes effect immediately upon enactment