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NJ S3881
Bill
Status
1/30/2025
Primary Sponsor
Nilsa Cruz-Perez
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AI Summary
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Amends P.L.2024, c.35 to update the State Fiscal Year 2025 environmental infrastructure financing program, authorizing zero-interest and principal-forgiveness loans for clean water and drinking water projects through the New Jersey Infrastructure Bank
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Approves 152 clean water projects totaling approximately $1.86 billion in estimated total loan amounts, including combined sewer overflow abatement, stormwater management, and water quality restoration projects across numerous municipalities
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Approves 67 drinking water projects totaling approximately $590.5 million in estimated total loan amounts, with provisions for lead service line replacement, emerging contaminant treatment, and small system improvements
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Provides enhanced principal forgiveness for disadvantaged communities based on tiered affordability scores, with up to 100% forgiveness for qualifying projects and up to $60 million available for technical assistance program participants
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Authorizes transfers between Clean Water and Drinking Water State Revolving Funds, extends project eligibility to July 1, 2025, and incorporates funding from federal sources including the Infrastructure Investment and Jobs Act and American Rescue Plan Act
Legislative Description
Amends lists of environmental infrastructure projects approved for long-term funding by DEP under FY2025 environmental infrastructure funding program.
Bills and Joint Resolutions Signed by the Governor
Last Action
Approved P.L.2025, c.10.
1/30/2025