NJ A5980

Establishes the Citizens Fund as a state instrumentality to receive revenue-producing assets (infrastructure, utilities, property) from municipalities, counties, and other public entities, with the goal of maximizing asset value to benefit public pension and post-employment benefit plans

Creates a 5-member fund board appointed by the Governor, including representatives from the NJ Infrastructure Bank, Division of Investment, Department of Community Affairs, and certificate holders, to manage assets and oversee conveyances

Requires independent valuation of assets before conveyance and establishes a Common Pension Fund within the Division of Investment with two subaccounts: a holding account for certificates of trust and an investment account for distributing proceeds to retirement systems

Amends the Water Infrastructure Protection Act to allow municipalities with water/wastewater systems under emergent conditions (regulatory violations, infrastructure deficiencies, lack of financial capacity) to convey assets to the Citizens Fund as an alternative to private sale or lease

Beneficial interests of 25% or more in fund-held assets cannot be granted to private entities until at least 5 years after the asset is conveyed to the fund