NJ S4875

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

Creates a five-member fund board appointed by the Governor, including representatives from the NJ Infrastructure Bank, Division of Investment, Department of Community Affairs, and certificate holders, with fiduciary duties to manage conveyed assets

Requires independent valuation of assets before conveyance, with proceeds deposited into a Common Pension Fund divided between a holding account (certificates of trust) and an investment account managed by the Division of Investment to increase pension funded ratios

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

Establishes enterprise advisory boards composed of affected municipalities to provide input on conveyed assets, though these boards have no voting or veto authority over fund operations