NJ A4968

Authorizes the New Jersey Infrastructure Bank to expend $61,400,000 in loans to local government units for transportation infrastructure projects in State Fiscal Year 2025

Lists 20 eligible transportation projects across municipalities including bridge replacements, road improvements, pedestrian trails, and street redesigns, with individual loan amounts ranging from $650,000 to $8,450,000

Permits the bank to increase loan amounts to cover capitalized interest, issuance expenses, debt service reserve fund costs, loan origination fees, and administrative expenses associated with federal funding programs

Allows the bank to utilize savings from bond refundings to increase loan amounts for authorized projects, provided savings are achieved

Sets loan terms requiring repayment within 31 years (or maximum TIFIA-allowed period for federal loans) and establishes July 1, 2025 as the expiration date for project eligibility