Bill Text: NJ A3951 | 2024-2025 | Regular Session | Introduced


Bill Title: Appropriates $28,670,924 in 2003 and 1992 bond act monies for loans for dam restoration and repair projects and inland waters projects.

Spectrum: Partisan Bill (Republican 4-0)

Status: (Introduced) 2024-03-04 - Introduced, Referred to Assembly Environment, Natural Resources, and Solid Waste Committee [A3951 Detail]

Download: New_Jersey-2024-A3951-Introduced.html

ASSEMBLY, No. 3951

STATE OF NEW JERSEY

221st LEGISLATURE

 

INTRODUCED MARCH 4, 2024

 


 

Sponsored by:

Assemblywoman  DAWN FANTASIA

District 24 (Morris, Sussex and Warren)

 

Co-Sponsored by:

Assemblyman Inganamort

 

 

 

 

SYNOPSIS

     Appropriates $28,670,924 in 2003 and 1992 bond act monies for loans for dam restoration and repair projects and inland waters projects.

 

CURRENT VERSION OF TEXT

     As introduced.

  


An Act appropriating $22,431,294 from the "Dam, Lake, Stream, Flood Control, Water Resources, and Wastewater Treatment Project Bond Act of 2003," P.L.2003, c.162, and $6,239,630 from the "Green Acres, Clean Water, Farmland and Historic Preservation Bond Act of 1992," P.L.1992, c.88, to provide loans for dam restoration and repair projects and inland waters projects.

 

     Be It Enacted by the Senate and General Assembly of the State of New Jersey:

 

     1.    a.  There is appropriated to the Department of Environmental Protection from the "2003 Dam, Lake and Stream Project Revolving Loan Fund," established pursuant to section 17 of the "Dam, Lake, Stream, Flood Control, Water Resources, and Wastewater Treatment Project Bond Act of 2003," P.L.2003, c.162, the sum of $22,431,294, made available due to project cancellations, withdrawals, cost savings, interest earnings, and loan repayments, for the purpose of providing loans to owners of private dams, or private lake associations or similar organizations, as co-applicants with local government units, or to local government units that own dams, to finance the costs of dam restoration and repair projects and inland waters projects undertaken by, or on behalf of, the owners of dams or lakes.  This sum shall include administrative costs and shall be allocated as follows:

 

Dam Name

Applicant

       Loan

  Amount

 

High Crest Lake Dam

High Crest Lake Lodge, Inc.

$1,250,000

Mount Glen Dam

Mount Glen Lakes Assoc.

$3,000,000

Lake Winona Dam

Lake Winona Civic Assoc.

$4,700,000

Cooper River Pkwy. Dam

Camden County

$2,000,000

Giffords Mill Dam

Pinelands Regional School District

$707,319

Upper & Lower Farm Crest

Farm Crest Acres Assoc.

$350,000

Lake Plymouth Dam

Lake Plymouth Comm. Assoc.

$1,200,000

Braddock Mill Lake Dam

Braddocks Mill Conservation Assoc.

$1,046,800

Fawn Lake Dam

Deer Trail Lake Comm. Club

$2,420,000

Camp Karney Dam

Salem County

$3,400,000

Pine Mill Lake Dam

Pemberton Township

$545,000

Holiday Pond Dam

Community Corp. of Highpoint, Inc.

$750,000

High Crest Lake

High Crest Lake Lodge, Inc.

$500,000

Administrative Costs

 

$562,175

 

      b.   Any unexpended funds remaining after completion of the projects listed in subsection a. of this section shall be returned to the "2003 Dam, Lake and Stream Project Revolving Loan Fund" for re-appropriation to fund additional projects authorized by law.

     c.     Any transfer of any funds, or change in project sponsor or project site, listed in subsection a. of this section shall require the approval of the Joint Budget Oversight Committee or its successor.

     d.    There is appropriated to the Department of Environmental Protection such sums as may be, or may become, available on or before June 30, 2023, due to interest earnings or loan repayments to the "2003 Dam, Lake and Stream Project Revolving Loan Fund," to fund the projects listed in subsection a. of this section, and additional projects authorized by law.

     e.     The expenditures of sums appropriated by this section are subject to the provisions and conditions set forth in P.L.2003, c.162.

 

     2.    a.  There is appropriated to the Department of Environmental Protection from the "1992 Dam Restoration and Clean Water Trust Fund," established pursuant to section 26 of the "Green Acres, Clean Water, Farmland and Historic Preservation Bond Act of 1992," P.L.1992, c.88, the sum of $6,239,630 made available due to project cancellations, withdrawals, cost savings, interest earnings, and loan repayments, for the purpose of providing loans to assist local government units, and private lake associations or similar organizations or owners of private dams, as co-applicants with local government units, to meet the costs of dam restoration and inland waters projects.  This sum shall be allocated as follows:

 

Project Name

Applicant

        Loan

   Amount

 

Mountain Creek Lake Dam

Mountain Creek Resort

$3,000,000

Silver Lake Dam

Silver Lake Assoc.

$289,630

Lake Garrison Dam

Lake Garrison, Inc.

$2,850,000

Swannanoa Lake Dam

Lake Swannanoa

     Homeowners Assoc.

$100,000

 

     b.    Any unexpended funds remaining after completion of the projects listed in subsection a. of this section shall be returned to the "1992 Dam Restoration and Clean Water Trust Fund" for re-appropriation to fund additional projects authorized by law.

     c.     Any transfer of any funds, or change in project sponsor or project site, listed in subsection b. of this section shall require the approval of the Joint Budget Oversight Committee or its successor.

     d.    There is appropriated to the Department of Environmental Protection such sums as may be, or may become, available on or before June 30, 2023, due to interest earnings or loan repayments to the "1992 Dam Restoration and Clean Water Trust Fund," to fund the projects listed in subsection a. of this section, and additional projects authorized by law.

     e.     The expenditures of sums appropriated by this section are subject to the provisions and conditions set forth in P.L.1992, c.88.

 

     3.    This act shall take effect immediately.

STATEMENT

 

     This bill appropriates $28,670,924 in 2003 and 1992 bond act monies for loans for dam restoration and repair projects and inland waters projects, including administrative costs, for 17 projects identified in the bill.

     Of this funding:  $22,431,294 is from the "2003 Dam, Lake and Stream Project Revolving Loan Fund," established pursuant to section 17 of the "Dam, Lake, Stream, Flood Control, Water Resources, and Wastewater Treatment Project Bond Act of 2003," P.L.2003, c.162; and $6,239,630 is from the "1992 Dam Restoration and Clean Water Trust Fund," established pursuant to section 26 of the "Green Acres, Clean Water, Farmland and Historic Preservation Bond Act of 1992," P.L.1992, c.88.  These monies are made available due to project cancellations, withdrawals, cost savings, interest earnings, and loan repayments. 

     The funds from the 2003 bond act will provide 13 loans to owners of private dams, or private lake associations or similar organizations, as co-applicants with local government units, or to local government units that own dams, to finance the costs of dam restoration and repair projects undertaken by, or on behalf of, the owners of dams and to an inland waters project.  The funds from the 1992 bond act will provide four loans to assist private lake associations or similar organizations or owners of private dams, as co-applicants with local government units, to meet the costs of dam restoration projects. 

     In addition, the bill appropriates monies that may be, or may become, available on or before June 30, 2023, due to interest earnings or loan repayments to the 2003 and 1992 fund, as appropriate, to fund projects listed in the bill and additional projects authorized by law.

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