Bill Text: NJ A1738 | 2022-2023 | Regular Session | Introduced
Bill Title: Permits developer to qualify for low-interest loan from NJEDA when building a high performance green building.
Spectrum: Partisan Bill (Democrat 3-0)
Status: (Introduced - Dead) 2022-01-11 - Introduced, Referred to Assembly Commerce and Economic Development Committee [A1738 Detail]
Download: New_Jersey-2022-A1738-Introduced.html
STATE OF NEW JERSEY
220th LEGISLATURE
PRE-FILED FOR INTRODUCTION IN THE 2022 SESSION
Sponsored by:
Assemblyman JOHN F. MCKEON
District 27 (Essex and Morris)
Assemblyman CLINTON CALABRESE
District 36 (Bergen and Passaic)
Co-Sponsored by:
Assemblyman Moen
SYNOPSIS
Permits developer to qualify for low-interest loan from NJEDA when building a high performance green building.
CURRENT VERSION OF TEXT
Introduced Pending Technical Review by Legislative Counsel.
An Act concerning the financing of certain high performance green buildings by the New Jersey Economic Development Authority and supplementing P.L.1974, c.80 (C.34:1B-1 et seq.).
Be It Enacted by the Senate and General Assembly of the State of New Jersey:
1. a. In consultation with the Commissioner of Community Affairs, the executive director of the New Jersey Economic Development Authority may establish and administer a program that makes low-interest loans available to a developer or redeveloper who constructs a new building or renovates an existing building that, when completed, qualifies as a high performance green building. The executive director shall adopt rules and regulations, pursuant to the "Administrative Procedure Act," P.L.1968, c.410 (C.52:14B-1 et seq.), necessary to effectuate the purposes of this section.
b. As used in this section, "high performance green building" means a commercial, industrial, or mixed use building having at least 15,000 square feet in total floor area that is designed and constructed in a manner that achieves at least:
(1) a silver rating according to the Leadership in Energy and Environmental Design Green Building Rating System as adopted by the United States Green Building Council;
(2) a silver rating according to the National Green Building Standards as adopted by the International Code Council and the American National Standards Institute;
(3) a two globe rating according to the Green Globes Program as adopted by the Green Building Initiative; or
(4) a comparable numeric rating according to a nationally recognized, accepted, and appropriate numeric sustainable development rating system, guideline, or standard as the Commissioner of Community Affairs, in consultation with the Commissioner of Environmental Protection and the Board of Public Utilities, may designate by regulation.
2. This act shall take effect immediately.
STATEMENT
This bill authorizes the executive director of the New Jersey Economic Development Authority (EDA) in consultation with the Commissioner of Community Affairs, to establish and administer a program to make low-interest loans to developers and redevelopers who construct new buildings or renovate existing buildings which, when completed, qualify as "high performance green buildings." The bill defines "high performance green building" as a commercial, industrial, or mixed use building having at least 15,000 square feet in total floor area that is designed and constructed in a manner that achieves at least:
1) a silver rating according to the Leadership in Energy and Environmental Design ("LEED") Green Building Rating System as adopted by the United States Green Building Council;
2) a silver rating according to the National Green Building Standards as adopted by the International Code Council and the American National Standards Institute;
3) a two globe rating according to the Green Globes Program as adopted by the Green Building Initiative; or
4) a comparable numeric rating according to a nationally recognized, accepted, and appropriate numeric sustainable development rating system, guideline, or standard as the Commissioner of Community Affairs, in consultation with the Commissioner of Environmental Protection and the Board of Public Utilities, may designate by regulation.
