NJ A5622

Appropriates federal and state funds to the Department of Environmental Protection (DEP) for the State Fiscal Year 2026 New Jersey Environmental Infrastructure Financing Program to provide loans to local governments and water companies for water infrastructure projects

Authorizes approximately $2.4 billion in total estimated loans across 220 projects, including 151 clean water projects ($1.7 billion), 59 drinking water projects ($651.7 million), and supplemental loans for previously funded projects

Provides zero-interest or principal forgiveness loans for qualifying projects addressing combined sewer overflows, water quality restoration, water/energy efficiency, emerging contaminants, and lead service line replacements, with forgiveness amounts based on project type and affordability criteria

Allows transfer of funds between various State revolving funds (Clean Water, Drinking Water, Wastewater Treatment) and appropriates federal Infrastructure Investment and Jobs Act funds deposited in state accounts

Authorizes the New Jersey Infrastructure Bank to use loan repayments to secure trust bonds and administrative fees, with project eligibility expiring July 1, 2026