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NJ A760

Bill

Official Source

Status

Passed

1/13/2026

Primary Sponsor

Al Abdelaziz

Click for details

Origin

General Assembly

2026-2027 Regular Session

AI Summary

  • Eliminates the 5% down payment requirement for local government bond ordinances financing hazard mitigation and resilience projects funded through the New Jersey Infrastructure Bank
  • Exempts local governments from applying to the Local Finance Board regarding maturity schedules and annual installment payments for bonds related to hazard mitigation and resilience projects
  • Amends N.J.S.40A:2-11 and N.J.S.40A:2-26 of the Local Bond Law to add hazard mitigation and resilience projects to the list of exempt project types alongside environmental infrastructure and transportation projects
  • Takes effect immediately upon enactment

Legislative Description

Eliminates five percent down payment requirement for local bond ordinances involving hazard mitigation and resilience projects.

Withdrawn Because Approved

Last Action

Withdrawn Because Approved P.L.2025, c.164.

1/13/2026

Committee Referrals

State and Local Government1/13/2026

Full Bill Text

No bill text available