Bill Text: NJ S3384 | 2024-2025 | Regular Session | Introduced
Bill Title: Appropriates funds to DEP for environmental infrastructure projects for FY2025.
Spectrum: Slight Partisan Bill (Democrat 2-1)
Status: (Enrolled) 2024-06-28 - Passed Assembly (Passed Both Houses) (72-0-1) [S3384 Detail]
Download: New_Jersey-2024-S3384-Introduced.html
Sponsored by:
Senator JOHN J. BURZICHELLI
District 3 (Cumberland, Gloucester and Salem)
Senator HOLLY T. SCHEPISI
District 39 (Bergen)
SYNOPSIS
Appropriates funds to DEP for environmental infrastructure projects for FY2025.
CURRENT VERSION OF TEXT
As introduced.
An Act appropriating moneys to the Department of Environmental Protection for the purpose of making zero interest loans or principal forgiveness loans to project sponsors to finance a portion of the costs of environmental infrastructure projects.
Be It Enacted by the Senate and General Assembly of the State of New Jersey:
1. a. (1) There is appropriated to the department from the "Clean Water State Revolving Fund," established pursuant to section 1 of P.L.2009, c.77, an amount equal to the federal fiscal year 2024 capitalization grant made available to the State for clean water project loans and technical assistance pursuant to the "Water Quality Act of 1987," 33 U.S.C. s.1251 et seq., and any amendatory and supplementary acts thereto (hereinafter referred to as the "Federal Clean Water Act") and such sums as are made available to the department from the "Clean Water State Revolving Fund" from funds made available pursuant to the federal "Infrastructure Investment and Jobs Act," Pub.L. 117-58, for clean water project loans and technical assistance.
(2) There is appropriated to the department from the "Interim Environmental Financing Program Fund," established by the New Jersey Infrastructure Bank pursuant to subsection d. of section 9 of P.L.1985, c.334 (C.58:11B-9), such amounts as may be necessary to supplement the sums appropriated from the Clean Water State Revolving Fund for the purposes of clean water project loans and technical assistance and providing the State match as may be required for the award of the capitalization grants made available to the State for clean water projects pursuant to the Federal Clean Water Act.
(3) There is appropriated to the department from the "Disaster Relief Emergency Financing Program Fund," established by the New Jersey Infrastructure Bank pursuant to section 1 of P.L.2013, c.93 (C.58:11B-9.5), such amounts as may be necessary to supplement the sums appropriated from the Clean Water State Revolving Fund for the purposes of clean water project loans and technical assistance and providing the State match as may be required for the award of the capitalization grants made available to the State for clean water projects pursuant to the Federal Clean Water Act.
(4) There is appropriated to the department from the "Drinking Water State Revolving Fund," established pursuant to section 1 of P.L.1998, c.84, an amount equal to the federal fiscal year 2024 capitalization grant made available to the State for drinking water projects pursuant to the "Safe Drinking Water Act Amendments of 1996," Pub.L. 104-182, and any amendatory and supplementary acts thereto (hereinafter referred to as the "Federal Safe Drinking Water Act") and such sums as are made available to the department from the "Drinking Water State Revolving Fund" from funds made available pursuant to the federal "Infrastructure Investment and Jobs Act," Pub.L. 117-58, for drinking water project loans and technical assistance.
The department is authorized to transfer from the Clean Water State Revolving Fund to the Drinking Water State Revolving Fund, pursuant to the "Water Infrastructure Funding Transfer Act," Pub.L.116-63, additional amounts as may be necessary to address a threat to public health, and an amount equal to the maximum amount authorized to be transferred is appropriated to the department for those purposes.
The department is authorized to transfer from the Clean Water State Revolving Fund to the Drinking Water State Revolving Fund an amount up to the maximum amount authorized to be transferred pursuant to the Federal Safe Drinking Water Act to meet present and future needs for the financing of eligible drinking water projects, and an amount equal to that maximum amount is appropriated to the department for those purposes.
The department is authorized to transfer from the Drinking Water State Revolving Fund to the Clean Water State Revolving Fund an amount up to the maximum amount authorized to be transferred pursuant to the Federal Clean Water Act to meet present and future needs for the financing of eligible clean water projects, and an amount equal to that maximum amount is appropriated to the department for those purposes.
Notwithstanding any provision of this act to the contrary, the department is authorized to utilize funds from the Clean Water State Revolving Fund for the purposes of the Drinking Water State Revolving Fund, and may charge interest on loans made with such invested funds to the extent permitted by the Federal Clean Water Act and the Federal Safe Drinking Water Act.
(5) There is appropriated to the department the unappropriated balances from the Clean Water State Revolving Fund, including the balances from the Federal Disaster Relief Appropriations Act, and any repayments of loans and interest therefrom, as may be available on or before June 30, 2025, for the purposes of clean water project loans and technical assistance and providing the State match as may be required for the award of the capitalization grants made available to the State for clean water projects pursuant to the Federal Clean Water Act.
(6) There is appropriated to the department the unappropriated balances from the "Wastewater Treatment Fund," established pursuant to section 15 of the "Wastewater Treatment Bond Act of 1985," P.L.1985, c.329, and any repayments of loans and interest therefrom, as may be available on or before June 30, 2025, for the purposes of clean water project loans and providing the State match as may be required for the award of the capitalization grants made available to the State for clean water projects pursuant to the Federal Clean Water Act.
(7) There is appropriated to the department the unappropriated balances from the "1992 Wastewater Treatment Fund," established pursuant to section 27 of the "Green Acres, Clean Water, Farmland and Historic Preservation Bond Act of 1992," P.L.1992, c.88, and any repayments of loans and interest therefrom, as may be available on or before June 30, 2025, for the purposes of clean water project loans and providing the State match as may be required for the award of the capitalization grants made available to the State for clean water projects pursuant to the Federal Clean Water Act.
(8) There is appropriated to the department the unappropriated balances from the "2003 Water Resources and Wastewater Treatment Fund," established pursuant to subsection a. of section 19 of the "Dam, Lake, Stream, Flood Control, Water Resources, and Wastewater Treatment Project Bond Act of 2003," P.L.2003, c.162, and any repayments of loans and interest therefrom, as may be available on or before June 30, 2025, for the purposes of clean water project loans and providing the State match as may be required for the award of the capitalization grants made available to the State for clean water projects pursuant to the Federal Clean Water Act.
(9) There is appropriated to the department the unappropriated balances from the "Pinelands Infrastructure Trust Fund," established pursuant to section 14 of the "Pinelands Infrastructure Trust Bond Act of 1985," P.L.1985, c.302, and any repayments of loans and interest therefrom, as may be available on or before June 30, 2025, for the purposes of clean water project loans and drinking water project loans and providing the State match as may be required for the award of the capitalization grants made available to the State for clean water projects pursuant to the Federal Clean Water Act and for drinking water projects pursuant to the Federal Safe Drinking Water Act.
(10) There is appropriated to the department the unappropriated balances from the "Stormwater Management and Combined Sewer Overflow Abatement Fund," established pursuant to the "Stormwater Management and Combined Sewer Overflow Abatement Bond Act of 1989," P.L.1989, c.181, and any repayments of loans and interest therefrom, as may be available on or before June 30, 2025, for the purposes of clean water project loans and providing the State match as may be required for the award of the capitalization grants made available to the State for clean water projects pursuant to the Federal Clean Water Act.
(11) There is appropriated to the department the unappropriated balances from the Drinking Water State Revolving Fund and any repayments of loans and interest therefrom, including the balances from the Federal Disaster Relief Appropriations Act as may be available on or before June 30, 2025, for the purposes of drinking water project loans.
(12) There is appropriated to the department such sums as may be needed from loan repayments and interest earnings from the "Water Supply Fund," established pursuant to section 14 of the "Water Supply Bond Act of 1981," P.L.1981, c.261, for the "Drinking Water State Revolving Fund Match Accounts" contained within that fund, for the purpose of providing the State match as may be required for the award of the capitalization grants made available to the State for drinking water projects pursuant to the Federal Safe Drinking Water Act.
(13) There is appropriated to the department from the "Interim Environmental Financing Program Fund," established by the New Jersey Infrastructure Bank pursuant to subsection d. of section 9 of P.L.1985, c.334 (C.58:11B-9), such amounts as may be available on or before June 30, 2025, and any repayments of loans and interest therefrom, as may be necessary to supplement the sums appropriated from the Drinking Water State Revolving Fund for the purposes of drinking water project loans and technical assistance and providing the State match as may be required for the award of the capitalization grants made available to the State for drinking water projects pursuant to the Federal Safe Drinking Water Act.
(14) There is appropriated to the department from the "Disaster Relief Emergency Financing Program Fund," established by the New Jersey Infrastructure Bank pursuant to section 1 of P.L.2013, c.93 (C.58:11B-9.5), such amounts as may be necessary to supplement the sums appropriated from the Drinking Water State Revolving Fund for the purposes of drinking water project loans and providing the State match as may be required for the award of the capitalization grants made available to the State for drinking water projects pursuant to the Federal Safe Drinking Water Act.
(15) There is appropriated to the department such amounts as may be received by the Department of Community Affairs, as the grantee from the United States Department of Housing and Urban Development Community Development Block Grant - Disaster Recovery Program (CDBG-DR), as may be available on or before June 30, 2025, for the purposes of CDBG-DR eligible clean water and drinking water project loans and providing the State match as may be required for the award of the capitalization grants made available to the State for clean water projects pursuant to the Federal Clean Water Act and drinking water projects pursuant to the Federal Safe Drinking Water Act.
(16) There is appropriated to the department such sums as may be available on or before June 30, 2025, as repayments of drinking water project loans and any interest therefrom from the "Water Supply Fund," established pursuant to section 14 of the "Water Supply Bond Act of 1981," P.L.1981, c.261, for the purposes of drinking water project loans and providing the State match as may be required for the award of the capitalization grants made available to the State for drinking water projects pursuant to the Federal Safe Drinking Water Act.
(17) Of the sums appropriated to the department from the "Water Supply Fund" pursuant to P.L.1999, c.174, P.L.2001, c.222, P.L.2002, c.70, and P.L.2003, c.158, the department is authorized to transfer any unexpended balances and any repayments of loans and interest therefrom as may be available on or before June 30, 2025, in such amounts as needed to the Drinking Water State Revolving Fund accounts contained within the Water Supply Fund established for the purposes of providing drinking water project loans and providing the State match as may be required for the award of the capitalization grants made available to the State for drinking water projects pursuant to the Federal Safe Drinking Water Act.
(18) Of the sums appropriated to the department from the "1992 Wastewater Treatment Fund" pursuant to P.L.1996, c.85, P.L.1997, c.221, P.L.1998, c.84, P.L.1999, c.174, P.L.2000, c.92, P.L.2001, c.222, and P.L.2002, c.70, the department is authorized to transfer any unexpended balances and any repayments of loans and interest therefrom as may be available on or before June 30, 2025, in such amounts as needed to the Clean Water State Revolving Fund accounts contained within the 1992 Wastewater Treatment Fund for the purposes of providing clean water project loans and providing the State match as may be required for the award of the capitalization grants made available to the State for clean water projects pursuant to the Federal Clean Water Act.
(19) Of the sums appropriated to the department from the "2003 Water Resources and Wastewater Treatment Fund" pursuant to P.L.2004, c.109 and P.L.2007, c.139, the department is authorized to transfer any unexpended balances and any repayments of loans and interest therefrom as may be available on or before June 30, 2025, in such amounts as needed to the Clean Water State Revolving Fund accounts contained within the 2003 Water Resources and Wastewater Treatment Fund for the purposes of providing clean water project loans and providing the State match as may be required for the award of the capitalization grants made available to the State for clean water projects pursuant to the Federal Clean Water Act.
(20) There is appropriated to the department the sums deposited by the New Jersey Infrastructure Bank into the Clean Water State Revolving Fund, the "Wastewater Treatment Fund," the "1992 Wastewater Treatment Fund," the "Water Supply Fund," the "Stormwater Management and Combined Sewer Overflow Abatement Fund," established pursuant to the "Stormwater Management and Combined Sewer Overflow Abatement Bond Act of 1989," P.L.1989, c.181, the "2003 Water Resources and Wastewater Treatment Fund," and the Drinking Water State Revolving Fund, as appropriate, pursuant to paragraph (6) of subsection c. of section 1 of P.L.2024, c. (pending before the Legislature as Senate Bill No. 3383 of the 2024-25 session and Assembly Bill No. 4425 of the 2024-25 session), as may be available on or before June 30, 2025, for the purposes of providing clean water project loans and drinking water project loans and providing the State match as may be required for the award of the capitalization grants made available to the State for clean water projects pursuant to the Federal Clean Water Act and for drinking water projects pursuant to the Federal Safe Drinking Water Act.
Any such amounts shall be for the purpose of making zero interest and principal forgiveness financing loans, to the extent sufficient funds are available, to or on behalf of local government units or public water utilities (hereinafter referred to as "project sponsors") to finance a portion of the cost of the construction of clean water projects and drinking water projects listed in sections 2 and 3 of this act, and for the purpose of implementing and administering the provisions of this act, to the extent permitted by the Federal Disaster Relief Appropriations Act, the Federal Clean Water Act, the Federal Safe Drinking Water Act, P.L.2009, c.77, the "Wastewater Treatment Bond Act of 1985." P.L.1985, c.329, the "Water Supply Bond Act of 1981," P.L.1981, c.261, the "Stormwater Management and Combined Sewer Overflow Abatement Bond Act of 1989," P.L.1989, c.181, the "Green Acres, Clean Water, Farmland and Historic Preservation Bond Act of 1992," P.L.1992, c.88, the "Dam, Lake, Stream, Flood Control, Water Resources, and the Wastewater Treatment Project Bond Act of 2003," P.L.2003, c.162, and any amendatory and supplementary acts thereto.
(21) Of the $60 million appropriated to the department for the capital construction of drinking water infrastructure by the State fiscal year 2024 appropriations act, P.L.2023, c.74, plus any appropriated funds designated in State fiscal years 2021, 2022, and 2023, up to $25 million may be transferred to the New Jersey Infrastructure Bank to invest, provide debt service reserve or guarantee, or pay interest on behalf of a sponsor of a drinking water environmental infrastructure project.
(22) Of the funds appropriated or reappropriated to the department for the capital construction of drinking water and clean water infrastructure by the State fiscal year 2025 appropriations act, P.L.2024, c. , the department is authorized to transfer up to $5 million to the trust for technical assistance to disadvantaged communities.
(23) Of the funds appropriated or reappropriated to the department for the capital construction of drinking water and clean water infrastructure by the State fiscal year 2025 appropriations act, P.L.2024, c. , plus any appropriated funds designated in State fiscal years 2021, 2022, and 2023, the department is authorized to utilize up to $60 million for principal forgiveness of up to $2 million per applicant to disadvantaged communities participating in the department's technical assistance program for construction costs associated with clean water or drinking water environmental infrastructure projects.
(24) There is appropriated to the department for the purposes of eligible clean water project grants such amounts as may be received by the department under the Sewer Overflow and Stormwater Reuse Grants Program, as the grantee from the United States Environmental Protection Agency and as may be available on or before June 30, 2025.
(25) Of the funds appropriated or reappropriated to the department for the capital construction of drinking water and clean water infrastructure by the State fiscal year 2025 appropriations act, P.L.2024, c. , plus any appropriated funds designated in State fiscal years 2021, 2022, and 2023, the department is authorized to utilize up to $60 million to provide grants of up to $2 million per applicant to disadvantaged communities participating in the Water Bank's technical assistance program for planning and design costs associated with clean water or drinking water environmental infrastructure projects.
b. The department is authorized to make zero interest and principal forgiveness financing loans to or on behalf of the project sponsors for the environmental infrastructure projects listed in subsection a. of section 2 and subsection a. of section 3 of this act for clean water projects, up to the individual amounts indicated and in the priority stated, to the extent there are sufficient eligible project applications, except that any such amounts may be reduced if a project fails to meet the requirements of sections 4 or 5 of this act, or by the Commissioner of Environmental Protection pursuant to section 7 of this act.
(1) A maximum of $20 million in principal forgiveness, plus any appropriated but unallocated funds designated in State fiscal year 2024 for combined sewer overflow projects, shall be issued as provided in subsection a. of section 3 of this act to communities in combined sewer overflow sewersheds for construction projects that reduce or eliminate discharges from combined sewer overflow outfalls. The amount of principal forgiveness issued pursuant to this paragraph shall not exceed $5 million per borrower whenever practicable. For project costs greater than $5 million, up to and including $10 million, 50 percent of the principal of the loan shall be forgiven and the remaining 50 percent of the loan shall have a blended interest rate of 50 percent of the trust's market rate. For project costs greater than $10 million, the loan shall have a blended interest rate of 25 percent of the trust's market rate. For combined sewer overflow projects that receive no principal forgiveness because principal forgiveness funds allocated to such projects are no longer available, the loan shall have a blended interest rate of 25 percent of the trust's market rate.
(2) A maximum of $30 million in principal forgiveness, plus any appropriated but unallocated funds designated in State fiscal year 2024 for combined sewer overflow projects shall be issued as provided in subsection a. of section 3 of this act to communities in combined sewer overflow sewersheds for construction projects that reduce or eliminate discharges from combined sewer overflow outfalls that meet "Clean Water State Revolving Fund" affordability criteria. The amount of principal forgiveness issued pursuant to this paragraph shall be based on the applicable tier of the department's affordability score. For a borrower satisfying Tier 1 of the department's affordability score and project costs up to and including $8 million, 100 percent of the principal of the loan shall be forgiven. For a borrower satisfying Tier 2 of the department's affordability score and project costs up to and including $7 million, 100 percent of the principal of the loan shall be forgiven. For project costs greater than $8 million in the case of a Tier 1 borrower, and greater than $7 million in the case of a Tier 2 borrower, the loan shall have a blended interest rate of 25 percent of the trust's market rate. For combined sewer overflow projects that reduce or eliminate discharges from combined sewer overflow outfalls that meet "Clean Water State Revolving Fund" affordability criteria that receive no principal forgiveness because principal forgiveness funds allocated to such projects are no longer available, the loan shall have a blended interest rate of 25 percent of the trust's market rate.
(3) A maximum of $10 million in principal forgiveness, plus any appropriated but unallocated funds designated in State fiscal year 2024 for water quality restoration projects, shall be issued as provided in subsection a. of section 3 of this act for water quality restoration projects. The amount of a principal forgiveness loan issued pursuant to this paragraph shall not exceed $2.5 million per borrower whenever practicable. For project costs up to and including $5 million, 50 percent of the principal of the loan shall be forgiven, and the remaining 50 percent of the loan shall have a blended interest rate of 50 percent of the trust's market rate. For project costs greater than $5 million, the loan shall have a blended interest rate of 25 percent of the trust's market rate. For water quality restoration projects that receive no principal forgiveness because principal forgiveness funds allocated to such projects are no longer available, the loan shall have a blended interest rate of 25 percent of the trust's market rate.
(4) A maximum of $40 million in principal forgiveness, plus any appropriated but unallocated funds designated in State fiscal year 2024, for clean water projects sponsored by applicants that meet the "Clean Water State Revolving Fund" affordability criteria as set forth by the department shall be issued as provided in subsection a. of section 3 of this act. The amount of a principal forgiveness loan issued pursuant to this paragraph shall be based on the applicable tier of the department's affordability score. For a borrower satisfying Tier 1 of the department's affordability score and project costs up to and including $3 million, 100 percent of the principal of the loan shall be forgiven. For a borrower satisfying Tier 2 of the department's affordability score and project costs up to and including $2 million, 100 percent of the principal of the loan shall be forgiven. For project costs greater than $3 million in the case of a Tier 1 borrower or greater than $2 million in the case of a Tier 2 borrower, the loan shall have a blended interest rate of 25 percent of the trust's market rate. For clean water projects sponsored by applicants that meet the "Clean Water State Revolving Fund" affordability criteria that receive no principal forgiveness because principal forgiveness funds allocated to such projects are no longer available, the loan shall have a blended interest rate of 25 percent of the trust's market rate.
(5) A maximum of $18 million in principal forgiveness, plus any appropriated but unallocated funds designated in State fiscal year 2024, for water and energy efficiency projects shall be issued as provided in subsection a. of section 3 of this act to projects that address water and energy efficiency goals that meet the eligibility requirements for water and energy efficiency as defined in the United States Environmental Protection Agency's "Green Project Reserve Guidance." The amount of a principal forgiveness loan issued pursuant to this paragraph shall not exceed $2 million per borrower whenever practicable. For project costs up to and including $4 million, 50 percent of the principal of the loan shall be forgiven and the remaining 50 percent of the loan shall have a blended interest rate of 50 percent of the trust's market rate. For project costs greater than $4 million, the loan shall have a blended interest rate of 25 percent of the trust's market rate. For water and energy efficiency projects that receive no principal forgiveness because principal forgiveness funds allocated to such projects are no longer available, the loan shall have a blended interest rate of 25 percent of the trust's market rate.
(6) A maximum of $18 million in principal forgiveness for emerging contaminant projects shall be issued as provided in subsection a. of section 3 of this act to projects that primarily address substances and microorganisms, which are known or anticipated in the environment, and which may pose newly identified or re-emerging risks to human health, aquatic life, or the environment. For project costs up to and including $10 million, 100 percent of the principal of the loan shall be forgiven, whenever practicable. For project costs greater than $10 million, the loan shall have a blended interest rate of 25 percent of the trust's market rate. For emerging contaminant projects that receive no principal forgiveness because principal forgiveness funds allocated to such projects are no longer available, the loan shall have a blended interest rate of 25 percent of the trust's market rate.
(7) A maximum of $2 million in principal forgiveness, plus any appropriated but unallocated funds designated in State fiscal year 2024, for combined sewer overflow or stormwater management projects shall be issued to finance up to 20 percent of project costs for projects that qualify for a Sewer Overflow and Stormwater Reuse grant. 100 percent of the principal of the loan shall be forgiven, and the remaining project costs shall be financed through a Sewer Overflow and Stormwater Reuse grant from the department.
(8) A maximum of $30 million in principal forgiveness, plus, of the sums appropriated to the department by the federal "American Rescue Plan Act," Pub.L. 117-2, a maximum of $50 million in principal forgiveness, plus any appropriated but unallocated funds designated in State fiscal year 2024, shall be issued as provided in subsection a. of section 3 of this act, to communities in combined sewer overflow sewersheds for construction projects that reduce or eliminate discharges from combined sewer overflow outfalls that are listed on combined sewer outfall long term control plans. Eighty percent of the principal of the loan shall be forgiven and the remaining 20 percent of the loan shall have a blended interest rate of 50 percent of the trust's market rate.
(9) A maximum of $9 million in principal forgiveness, plus, of the sums appropriated to the department by the federal "American Rescue Plan Act," Pub.L. 117-2, a maximum of $11 million in principal forgiveness, shall be issued as provided in subsection a. of section 3 of this act, to improve stormwater resilience. Eighty percent of the principal of the loan shall be forgiven and the remaining 20 percent of the loan shall have a blended interest rate of 50 percent of the trust's market rate. For stormwater resilience projects that receive no principal forgiveness because principal forgiveness funds allocated to such projects are no longer available, the loan shall have a blended interest rate of 25 percent of the trust's market rate.
(10) The projects listed in subsection a. of section 2 of this act and subsection a. of section 3 of this act that were previously identified in P.L.2023, c.120, as amended by P.L.2023, c.344, are granted continued priority status and shall be subject to the provisions of P.L.2023, c.120, as amended by P.L.2023, c.344, provided such projects receive short-term funding prior to June 30, 2024.
c. The department is authorized to make zero interest and principal forgiveness financing loans to or on behalf of the project sponsors for the environmental infrastructure projects listed in subsection b. of section 3 of this act for drinking water projects, up to the individual amounts indicated and in the priority stated, provided:
(1) up to $7 million of Drinking Water State Revolving Fund loans, plus any appropriated but unallocated funds designated in State fiscal year 2024 for drinking water systems serving populations of up to 10,000 residents, shall be available for drinking water systems serving populations of up to 10,000 residents wherein principal forgiveness shall not exceed $1 million in the aggregate and shall not exceed 50 percent of the total loan amount per project sponsor in an amount not to exceed $2 million per project sponsor. Project costs greater than $2 million shall have a loan funded at a blended interest rate of 25 percent of the trust's market rate;
(2) up to $6 million in principal forgiveness shall be available to finance drinking water systems that serve fewer than 1,000 persons. A loan issued pursuant to this paragraph shall have 100 percent principal forgiveness;
(3) a maximum of $34 million of principal forgiveness shall be available for drinking water projects that primarily address emerging contaminants, for which principal forgiveness may be authorized for up to 100 percent of the total fund loan amount of up to $2 million per applicant. For project costs greater than $2 million, the loan shall have a blended interest rate of 25 percent of the trust's market rate. For emerging contaminant projects that receive no principal forgiveness because principal forgiveness funds allocated to such projects are no longer available, the loan shall have a blended interest rate of 25 percent of the trust's market rate;
(4) up to $40 million of the sums appropriated to the department from the federal "Infrastructure Investment and Jobs Act," Pub. L. 117-58, may be issued for principal forgiveness for drinking water projects other than those to address emerging contaminants or lead that meet the affordability criteria of the department. A maximum of $20 million of principal forgiveness pursuant to this paragraph shall be available for up to 100 percent of the total fund loan amount up to and including $10 million for a borrower satisfying the department's affordability criteria whose project is identified as among the department's highest ranked drinking water projects. A maximum of $20 million of principal forgiveness shall be available for up to 100 percent of the total fund loan amount up to and including $4 million for borrowers satisfying the department's Tier 1 affordability score and up to and including $2 million for borrowers satisfying the department's Tier 2 affordability score. For projects that would otherwise qualify under this subsection for principal forgiveness that receive no principal forgiveness because principal forgiveness funds allocated to such projects are no longer available, the loan shall have a blended interest rate of 25 percent of the trust's market rate;
(5) up to $51 million plus any appropriated but unallocated funds designated in State fiscal year 2024, and up to $60.3 million of the sums appropriated to the department by the federal "Infrastructure Investment and Jobs Act," Pub.L. 117-58, may be issued for principal forgiveness loans for drinking water systems that meet the department's affordability criteria pursuant to the State's lead service line replacement program to finance lead service line replacements. The amount of a principal forgiveness loan issued pursuant to this paragraph shall be based on the applicable tier of the department's affordability score. For a borrower satisfying Tier 1 of the department's affordability score, the amount of principal forgiveness shall not exceed 80 percent of the total loan amount of up to $16 million per water system. For project costs up to and including $20 million, 80 percent of the principal of the loan shall be forgiven, and the remaining 20 percent of the loan shall have a blended interest rate of 50 percent of the trust's market rate. For project costs greater than $20 million, the loan shall have a blended interest rate of 25 percent of the trust's market rate. For a borrower satisfying Tier 2 of the department's affordability score, the amount of principal forgiveness shall not exceed 50 percent of the total loan amount of up to $10 million per water system. For project costs up to and including $20 million, 50 percent of the principal of the loan shall be forgiven, and the remaining 50 percent of the loan shall have a blended interest rate of 50 percent of the trust's market rate. For project costs greater than $20 million, the loan shall have a blended interest rate of 25 percent of the trust's market rate. For lead service line replacement projects that receive no principal forgiveness because principal forgiveness funds allocated to such projects are no longer available, the loan shall have a blended interest rate of 20 percent of the trust's market rate; and
(6) A maximum of $20 million of the sums appropriated to the department from the federal "American Rescue Plan Act," Pub.L. 117-2, plus any appropriated but unallocated funds designated in State fiscal year 2024, may be issued to drinking water systems for principal forgiveness loans for projects that address climate change concerns and ensure long-term drinking water resilience in New Jersey, or for projects for the installation of treatment systems to address multiple maximum contaminant level violations at one drinking water system that meets the affordability criteria of the department. For project costs up to and including $25 million, 80 percent of the principal of the loan shall be forgiven, and the remaining 20 percent of the loan shall have a blended interest rate of 50 percent of the trust's market rate. For project costs over $25 million, the loan shall have a blended interest rate of 25 percent of the trust's market rate.
Loans may be made pursuant to this subsection to the extent there are sufficient eligible project applications and as may be required for the award of the capitalization grants made available to the State for drinking water projects pursuant to the Federal Safe Drinking Water Act. Any such amounts may be reduced by the Commissioner of Environmental Protection pursuant to section 7 of P.L.2024, c. (pending before the Legislature as this bill), or if a project fails to meet the requirements of section 4 or 5 of P.L.2024, c. (pending before the Legislature as this bill).
The department is authorized to increase the maximum amounts available for principal forgiveness pursuant to this subsection or subsection b. of this section, to the extent additional funds are available.
d. The department is authorized to make zero interest and principal forgiveness financing loans to or on behalf of the project sponsors for the environmental infrastructure projects listed in sections 2 and 3 of this act under the same terms, conditions and requirements set forth in this section from any unexpended balances of the amounts appropriated pursuant to section 1 of P.L.1987, c.200, section 2 of P.L.1988, c.133, section 1 of P.L.1989, c.189, section 1 of P.L.1990, c.99, section 1 of P.L.1991, c.325, section 1 of P.L.1992, c.38, section 1 of P.L.1993, c.193, section 1 of P.L.1994, c.106, section 1 of P.L.1995, c.219, section 1 of P.L.1996, c.85, section 1 of P.L.1997, c.221, section 2 of P.L.1998, c.84, section 2 of P.L.1999, c.174, section 2 of P.L.2000, c.92, sections 1 and 2 of P.L.2001, c.222, sections 1 and 2 of P.L.2002, c.70, sections 1 and 2 of P.L.2003, c.158, sections 1 and 2 of P.L.2004, c.109, sections 1 and 2 of P.L.2005, c.196, sections 1 and 2 of P.L.2006, c.68, sections 1 and 2 of P.L.2007, c.139, sections 1 and 2 of P.L.2008, c.68, sections 1 and 2 of P.L.2009, c.102, sections 1 and 2 of P.L.2010, c.63, sections 1 and 2 of P.L.2011, c.93, sections 1 and 2 of P.L.2012, c.43, sections 1 and 2 of P.L.2013, c.95, sections 1 and 2 of P.L.2014, c.25, sections 1 and 2 of P.L.2015, c.108, sections 1 and 2 of P.L.2016, c.32, as amended by P.L.2017, c.14, sections 1 and 2 of P.L.2017, c.143, as amended by P.L.2017, c.326, sections 1 and 2 of P.L.2018, c.85, as amended by P.L.2018, c.137 and P.L.2019, c.12, sections 1 and 2 of P.L.2019, c.193, as amended by P.L.2019, c.514, P.L.2020, c.49, as amended by P.L.2021, c.21, P.L.2021, c.203, as amended by P.L.2021, c.328, P.L.2022, c.99, as amended by P.L.2023, c.6, P.L.2023, c.120, as amended by P.L.2023, c.344, and P.L.2024, c. (pending before the Legislature as this bill) including amounts resulting from the low bid and final building cost reductions authorized pursuant to section 6 of P.L.1987, c.200, section 7 of P.L.1988, c.133, section 6 of P.L.1989, c.189, section 6 of P.L.1990, c.99, section 6 of P.L.1991, c.325, section 6 of P.L.1992, c.38, section 6 of P.L.1993, c.193, section 6 of P.L.1994, c.106, section 6 of P.L.1995, c.219, section 6 of P.L. 1996, c.85, section 6 of P.L.1997, c.221, section 7 of P.L.1998, c.84, section 6 of P.L.1999, c.174, section 6 of P.L.2000, c.92, section 6 of P.L.2001, c.222, section 6 of P.L.2002, c.70, section 6 of P.L.2003, c.158, section 6 of P.L.2004, c.109, section 6 of P.L.2005, c.196, section 6 of P.L.2006, c.68, section 6 of P.L.2007, c.139, section 6 of P.L.2008, c.68, section 7 of P.L.2009, c.102, section 6 of P.L.2010, c.63, section 6 of P.L.2011, c.93, section 6 of P.L.2012, c.43, section 6 of P.L.2013, c.95, section 7 of P.L.2014, c.25, section 7 of P.L.2015, c.108, section 7 of P.L.2016, c.32, as amended by P.L.2017, c.14, section 7 of P.L.2017, c.143 as amended by P.L.2017, c.326, section 7 of P.L.2018, c.85, as amended by P.L.2018, c.137 and P.L.2019, c.12, section 7 of P.L.2019, c.193, as amended by P.L.2019, c.514, section 7 of P.L.2020, c.49, as amended by P.L.2021, c.21, P.L.2021, c.203, as amended by P.L.2021, c.328, P.L.2022, c.99, as amended by P.L.2023, c.6, P.L.2023, c.120, as amended by P.L.2023, c.344, and P.L.2024, c. (pending before the Legislature as this bill) and from any repayments of loans and interest from the Clean Water State Revolving Fund, the "Wastewater Treatment Fund," the "Water Supply Fund," the "1992 Wastewater Treatment Fund," the "2003 Water Resources and Wastewater Treatment Fund," and amounts deposited therein during State fiscal year 2024 and State fiscal year 2025 pursuant to the provisions of section 16 of P.L.1985, c.329, and section 2 of P.L.2009, c.77 and any amendatory and supplementary acts thereto, including any Clean Water State Revolving Fund Accounts contained within the "Wastewater Treatment Fund," and from any repayment of loans and interest from the Drinking Water State Revolving Fund.
e. The department is authorized to make zero interest and principal forgiveness Sandy financing loans to or on behalf of the project sponsors for the Sandy environmental infrastructure projects listed in subsection a. of section 3 of this act for clean water projects, in a manner consistent with the Federal Disaster Relief Appropriations Act, up to the individual amounts indicated, except that any such amount may be reduced by the Commissioner of Environmental Protection pursuant to section 7 of this act, or if a project fails to meet the requirements of section 4, 5, or 7 of this act, provided a maximum of $300 million shall be provided for Sandy financing loans for clean water projects to provide financial assistance to communities affected by the Storm Sandy, and for projects whose purpose is to reduce flood damage risk and vulnerability or to enhance resiliency to rapid hydrologic change or a natural disaster.
f. The department is authorized to increase the aggregate sums specified in subsections b. and c. of this section by the amount of interest accrued pursuant to a short-term or temporary loan made to a project sponsor pursuant to the Interim Environmental Financing Program.
g. For the purposes of this act:
"Department" means the Department of Environmental Protection.
"Federal Disaster Relief Appropriations Act" means the "Disaster Relief Appropriations Act, 2013," Pub.L.113-2, and any amendatory and supplementary acts thereto.
"Sandy financing" means grants, zero interest loans or principal forgiveness loans provided by the Department of Environmental Protection from funds made available to the State for clean water or drinking water projects, or clean water or drinking water project match, pursuant to the Federal Disaster Relief Appropriations Act.
"Technical assistance" means all services and assistance provided for the benefit of eligible project sponsors, including, but not limited to, public engagement services, technical assistance and expertise, and community education, for the purposes of identifying and pursuing a clean water or drinking water project, as described in the financial plan developed pursuant to section 21 of P.L.1985, c.334 (C.58:11B-21) or section 25 of P.L.1997, c.224 (C.58:11B-21.1).
"Trust" means the New Jersey Infrastructure Bank created pursuant to section 4 of P.L.1985, c.334 (C.58:11B-4).
2. a. (1) The department is authorized to expend funds for the purpose of making supplemental zero interest loans to or on behalf of the project sponsors listed below for the following clean water environmental infrastructure projects:
|
Project Sponsor |
Project Number |
Estimated Allowable DEP Loan Amount |
Estimated Total Loan Amount |
|
Hoboken City |
S340635-06R |
$30,000,000 |
$40,000,000 |
|
Newark City |
S340815-24R |
$15,750,000 |
$21,000,000 |
|
North Bergen MUA |
S340652-14R |
$6,150,000 |
$8,200,000 |
|
Ocean Township SA |
S340750-14R |
$1,500,000 |
$2,000,000 |
|
Rutgers University |
S340500-01R |
$3,150,000 |
$4,200,000 |
|
Somerville Borough |
S342013-01-1 |
$1,387,500 |
$1,850,000 |
|
Total Projects: 6 |
$57,937,500 |
$77,250,000 |
(2) The loans authorized in this subsection shall be made for the difference between the allowable loan amounts required by these projects based upon final building costs pursuant to section 7 of this act and the loan amounts certified by the Commissioner of Environmental Protection in State fiscal years 2019, 2020, 2021, 2022, and 2023 and for increased allowable costs as defined and determined in accordance with the rules and regulations adopted by the department pursuant to section 4 of P.L.1985, c.329. The loans authorized in this subsection shall be made to or on behalf of the project sponsors listed, up to the individual amounts indicated and in the priority stated, to the extent sufficient funds are available, except as a project fails to meet the requirements of section 4, 5, or 7 of this act.
(3) The zero interest loans for the projects authorized in this subsection shall have priority over projects listed in subsection a. of section 3 of this act.
b. (1) The department is authorized to expend funds for the purpose of making supplemental loans to or on behalf of the project sponsors listed below for the following drinking water environmental infrastructure projects:
|
Project Sponsor |
Project Number |
Estimated Allowable DEP Loan Amount |
Estimated Total Loan Amount |
|
National Park Borough |
0812001-004R |
$750,000 |
$1,000,000 |
|
North Jersey District WSC |
1613001-025R |
$19,125,000 |
$25,500,000 |
|
Total Projects: 2 |
$19,875,000 |
$26,500,000 |
(2) The loans authorized in this subsection shall be made for the difference between the allowable loan amount required by these projects based upon final building costs pursuant to section 7 of this act and the loan amounts certified by the Commissioner of Environmental Protection in State fiscal years 2020 and 2022 and for increased allowable costs as defined and determined in accordance with the rules and regulations adopted by the department pursuant to section 5 of P.L.1981, c.261. The loans authorized in this subsection shall be made to or on behalf of the project sponsors listed, up to the individual amounts indicated and in the priority stated, to the extent sufficient funds are available, except as a project fails to meet the requirements of section 4, 5, or 7 of this act.
(3) The zero interest loans for the projects authorized in this subsection shall have priority over projects listed in subsection b. of section 3 of this act.
c. The department is authorized to adjust the allowable department loan amount for projects authorized in this section to between zero percent and 100 percent of the total allowable loan amount, and, if the department loan amount is adjusted to 100 percent of the total allowable loan amount, the loan shall be provided pursuant to the terms and conditions of the financing program year in which the construction loan component of the project was certified by the department, and for which the trust issued an interim financing program loan for the project, or, in the absence of an interim financing program loan, the terms and conditions of the State fiscal year 2025 financing program.
3. a. (1) The following environmental infrastructure projects shall be known and may be cited as the "Storm Sandy and State Fiscal Year 2025 Clean Water Project Eligibility List":
|
Project Sponsor |
Project Number |
Estimated Allowable DEP Loan Amount |
Estimated Total Loan Amount |
|
Oakland Borough |
S340418-06 |
$5,790,000 |
$7,720,000 |
|
Camden County MUA |
S340640-19 |
$8,625,000 |
$11,500,000 |
|
Camden County MUA |
S340640-25 |
$10,725,000 |
$14,300,000 |
|
Rahway Valley SA |
S340547-17 |
$4,500,000 |
$6,000,000 |
|
Mendham Borough |
S340159-04 |
$4,125,000 |
$5,500,000 |
|
Newark City |
S340815-25 |
$356,250 |
$475,000 |
|
Camden County MUA |
S340640-32 |
$18,000,000 |
$24,000,000 |
|
Camden County MUA |
S340640-29 |
$9,525,000 |
$12,700,000 |
|
Montgomery Township |
S340130-03 |
$21,750,000 |
$29,000,000 |
|
Newark City |
S340815-26 |
$3,300,000 |
$4,400,000 |
|
Camden City |
S340366-07 |
$7,500,000 |
$10,000,000 |
|
Camden City |
S340366-14 |
$7,027,500 |
$9,370,000 |
|
Middlesex County UA |
S340699-17 |
$19,500,000 |
$26,000,000 |
|
North Bergen MUA |
S340652-16 |
$16,125,000 |
$21,500,000 |
|
Musconetcong SA |
S340384-10 |
$1,875,000 |
$2,500,000 |
|
Hoboken City |
S340635-08 |
$28,500,000 |
$38,000,000 |
|
Paterson City |
S340850-05 |
$1,451,250 |
$1,935,000 |
|
Paterson City |
S340850-07 |
$3,000,000 |
$4,000,000 |
|
Jersey City MUA |
S340928-47 |
$18,750,000 |
$25,000,000 |
|
Jersey City MUA |
S340928-49 |
$24,825,000 |
$33,100,000 |
|
Jersey City MUA |
S340928-40 |
$6,000,000 |
$8,000,000 |
|
Jersey City MUA |
S340928-23 |
$9,750,000 |
$13,000,000 |
|
Jersey City MUA |
S340928-24 |
$93,750,000 |
$125,000,000 |
|
Elizabeth City |
S340942-20 |
$17,250,000 |
$23,000,000 |
|
Elizabeth City |
S345070-01 |
$3,000,001 |
$4,000,001 |
|
Camden County MUA |
S340640-33 |
$21,750,000 |
$29,000,000 |
|
Kearny Town |
S340259-11 |
$12,750,000 |
$17,000,000 |
|
Ridgefield Park Village |
S340688-06 |
$9,150,000 |
$12,200,000 |
|
Ridgefield Park Village |
S340688-07 |
$2,025,000 |
$2,700,000 |
|
Perth Amboy City |
S340435-17 |
$3,313,800 |
$4,418,400 |
|
Long Branch SA |
S340336-08 |
$1,305,525 |
$1,740,700 |
|
Bayshore RSA |
S340697-07 |
$23,625,000 |
$31,500,000 |
|
Ocean County UA |
S340372-64 |
$37,500,000 |
$50,000,000 |
|
Cliffside Park Borough |
S340847-04 |
$3,975,000 |
$5,300,000 |
|
North Hudson SA |
S340952-42 |
$40,125,000 |
$53,500,000 |
|
North Hudson SA |
S340952-40 |
$17,625,000 |
$23,500,000 |
|
North Hudson SA |
S340952-37 |
$9,750,000 |
$13,000,000 |
|
North Hudson SA |
S340952-39 |
$13,500,000 |
$18,000,000 |
|
Perth Amboy City |
S340435-19 |
$300,000 |
$400,000 |
|
Perth Amboy City |
S340435-24 |
$975,000 |
$1,300,000 |
|
Hackensack City |
S340923-13 |
$12,750,000 |
$17,000,000 |
|
Hackensack City |
S340923-16 |
$10,500,000 |
$14,000,000 |
|
Hackensack City |
S340923-17 |
$5,625,000 |
$7,500,000 |
|
Hackensack City |
S340923-18 |
$7,500,000 |
$10,000,000 |
|
Hackensack City |
S340923-21 |
$15,000,000 |
$20,000,000 |
|
Bayonne City |
S340399-33 |
$4,350,000 |
$5,800,000 |
|
Passaic Valley SC |
S340689-37 |
$91,125,000 |
$121,500,000 |
|
Passaic Valley SC |
S340689-44 |
$18,000,000 |
$24,000,000 |
|
Passaic Valley SC |
S340689-53 |
$13,650,000 |
$18,200,000 |
|
Passaic Valley SC |
S345200-01 |
$7,500,000 |
$10,000,000 |
|
Passaic Valley SC |
S345200-51 |
$105,750,000 |
$141,000,000 |
|
Pennsville SA |
S340870-05 |
$4,875,000 |
$6,500,000 |
|
Beach Haven Borough |
S344220-01 |
$2,700,000 |
$3,600,000 |
|
Logan Township MUA |
S340123-02 |
$9,000,000 |
$12,000,000 |
|
Bergen County UA |
S340386-23 |
$45,000,000 |
$60,000,000 |
|
Linden Roselle SA |
S340299-08 |
$20,250,000 |
$27,000,000 |
|
Raritan Township MUA |
S340485-13 |
$1,500,000 |
$2,000,000 |
|
Passaic Valley SC |
S340689-63 |
$66,750,000 |
$89,000,000 |
|
Wanaque Valley RSA |
S340780-05 |
$8,625,000 |
$11,500,000 |
|
Gloucester County UA |
S340902-15 |
$10,875,000 |
$14,500,000 |
|
Stony Brook RSA |
S340400-11 |
$16,500,000 |
$22,000,000 |
|
Evesham MUA |
S340838-09 |
$562,500 |
$750,000 |
|
Long Branch SA |
S340336-09 |
$4,200,000 |
$5,600,000 |
|
Bergen County UA |
S340386-26 |
$4,500,000 |
$6,000,000 |
|
JMEUC - East Orange City |
S340686-09a |
$465,378 |
$620,504 |
|
JMEUC - Elizabeth City |
S340686-09b |
$4,879,407 |
$6,505,876 |
|
JMEUC - Hillside Township |
S340686-09c |
$681,323 |
$908,430 |
|
JMEUC - Irvington Township |
S340686-09d |
$1,689,260 |
$2,252,347 |
|
JMEUC - Newark City |
S340686-09e |
$1,022,282 |
$1,363,042 |
|
JMEUC - South Orange Village Township |
S340686-09f |
$488,105 |
$650,806 |
|
JMEUC - Summit City |
S340686-09g |
$889,742 |
$1,186,322 |
|
JMEUC - Union Township |
S340686-09h |
$1,837,001 |
$2,449,335 |
|
JMEUC - West Orange Township |
S340686-09i |
$1,189,072 |
$1,585,429 |
|
Ocean County |
S344080-10 |
$187,500 |
$250,000 |
|
Ocean County |
S344080-11 |
$262,500 |
$350,000 |
|
Rockaway Valley RSA |
S340821-08 |
$11,625,000 |
$15,500,000 |
|
Rockaway Valley RSA |
S340821-11 |
$10,125,000 |
$13,500,000 |
|
Camden County MUA |
S340640-36 |
$11,625,000 |
$15,500,000 |
|
Hamilton Township |
S340898-06 |
$3,037,500 |
$4,050,000 |
|
Stafford Township |
S340946-09 |
$3,510,000 |
$4,680,000 |
|
Metuchen Borough |
S340360-02 |
$6,750,000 |
$9,000,000 |
|
Somerville Borough |
S340551-01 |
$2,775,000 |
$3,700,000 |
|
Netcong Borough |
S340538-01 |
$75,000 |
$100,000 |
|
Manasquan River Regional SA |
S340911-03 |
$495,000 |
$660,000 |
|
Stafford Township |
S340946-10 |
$6,375,000 |
$8,500,000 |
|
Vernon Township |
S340745-03 |
$2,271,750 |
$3,029,000 |
|
Hightstown Borough |
S340915-08 |
$1,875,000 |
$2,500,000 |
|
Delanco SA |
S340956-03 |
$1,725,000 |
$2,300,000 |
|
Pleasantville City |
S340752-04 |
$3,246,413 |
$4,328,550 |
|
Bergen County UA |
S340386-25 |
$3,000,000 |
$4,000,000 |
|
Monmouth County Bayshore Outfall Authority |
S340325-04 |
$1,500,000 |
$2,000,000 |
|
Monmouth County Bayshore Outfall Authority |
S340325-04a |
$1,500,000 |
$2,000,000 |
|
Camden County MUA |
S340640-30 |
$5,625,000 |
$7,500,000 |
|
Rockaway Valley RSA |
S340821-10 |
$6,375,000 |
$8,500,000 |
|
Toms River MUA |
S340145-07 |
$6,750,000 |
$9,000,000 |
|
Brick Township MUA |
S340448-12 |
$6,750,000 |
$9,000,000 |
|
Brick Township MUA |
S340448-13 |
$3,450,000 |
$4,600,000 |
|
Northwest Bergen County UA |
S340700-19 |
$6,099,338 |
$8,132,450 |
|
Franklin Township SA |
S340839-09 |
$5,700,000 |
$7,600,000 |
|
Franklin Township SA |
S340839-10 |
$7,125,000 |
$9,500,000 |
|
Egg Harbor Township MUA |
S340753-06 |
$937,500 |
$1,250,000 |
|
Hackensack City |
S340923-22 |
$1,200,000 |
$1,600,000 |
|
Mount Laurel Township MUA |
S340943-07 |
$6,000,000 |
$8,000,000 |
|
North Brunswick Township |
S340888-03 |
$2,475,000 |
$3,300,000 |
|
North Brunswick Township |
S340888-04 |
$2,625,000 |
$3,500,000 |
|
Deptford Township MUA |
S340066-03 |
$750,000 |
$1,000,000 |
|
Deptford Township MUA |
S340066-04 |
$750,000 |
$1,000,000 |
|
Hillside Township |
S340686-10 |
$1,950,000 |
$2,600,000 |
|
Hopewell Township |
S340282-03 |
$1,230,000 |
$1,640,000 |
|
Mantua Township MUA |
S340514-01 |
$2,007,375 |
$2,676,500 |
|
Mantua Township MUA |
S340514-03 |
$1,022,625 |
$1,363,500 |
|
Berkeley Heights Township |
S340385-08 |
$525,000 |
$700,000 |
|
Pennsville SA |
S340870-04 |
$1,200,000 |
$1,600,000 |
|
South Monmouth RSA |
S340377-06 |
$1,725,000 |
$2,300,000 |
|
North Haledon Borough |
S340229-02 |
$75,000 |
$100,000 |
|
North Haledon Borough |
S340229-01 |
$1,875,000 |
$2,500,000 |
|
Carneys Point SA |
S340502-08 |
$1,500,000 |
$2,000,000 |
|
Haddon Heights Borough |
S340877-02 |
$487,500 |
$650,000 |
|
Emerson Borough |
S340497-01 |
$75,000 |
$100,000 |
|
Emerson Borough |
S340497-02 |
$525,000 |
$700,000 |
|
Highlands Borough |
S340901-05 |
$6,375,000 |
$8,500,000 |
|
Medford Lakes Borough |
S340319-03 |
$8,250,000 |
$11,000,000 |
|
Hamburg Borough |
S340149-03 |
$75,000 |
$100,000 |
|
Hamburg Borough |
S340149-04 |
$750,000 |
$1,000,000 |
|
Wenonah Borough |
S340531-01 |
$997,500 |
$1,330,000 |
|
Clinton Township SA |
S340873-04 |
$1,875,000 |
$2,500,000 |
|
Long Beach Township |
S340023-10 |
$3,900,000 |
$5,200,000 |
|
Fieldsboro Borough |
S340522-01 |
$3,750,000 |
$5,000,000 |
|
North Bergen Township |
S340652-17 |
$3,225,000 |
$4,300,000 |
|
Willingboro MUA |
S340132-10 |
$13,650,000 |
$18,200,000 |
|
Passaic Valley SC |
S340689-45 |
$7,657,577 |
$10,210,102 |
|
Passaic Valley SC |
S340689-46 |
$51,750,000 |
$69,000,000 |
|
Passaic Valley SC |
S340689-54 |
$16,950,000 |
$22,600,000 |
|
Ocean gate Borough |
S340151-02 |
$1,125,000 |
$1,500,000 |
|
Ocean County UA |
S340372-65 |
$3,150,000 |
$4,200,000 |
|
Hackensack City |
S340923-15 |
$1,200,000 |
$1,600,000 |
|
Lower Township MUA |
S340810-05 |
$22,500,000 |
$30,000,000 |
|
Boonton Town |
S340265-02 |
$2,475,000 |
$3,300,000 |
|
Runnemede Borough |
S340363-07 |
$8,250,000 |
$11,000,000 |
|
Newton Town |
S340449-04 |
$1,875,000 |
$2,500,000 |
|
Gloucester Township |
S340364-19 |
$1,500,000 |
$2,000,000 |
|
Gloucester Township |
S340364-16 |
$450,000 |
$600,000 |
|
Gloucester Township |
S340364-17 |
$967,649 |
$1,290,198 |
|
Gloucester Township |
S340364-18 |
$1,125,000 |
$1,500,000 |
|
Newton Town |
S340449-10 |
$1,651,125 |
$2,201,500 |
|
Jersey City MUA |
S340928-32 |
$11,250,000 |
$15,000,000 |
|
Trenton City |
S340416-14 |
$18,000,000 |
$24,000,000 |
|
Atlantic City MUA |
S340439-04 |
$2,300,000 |
$3,066,667 |
|
East Orange City |
S340843-03 |
$12,825,000 |
$17,100,000 |
|
Burlington City |
S340140-02 |
$1,950,000 |
$2,600,000 |
|
Bloomfield Township |
S340516-01 |
$5,423,228 |
$7,230,970 |
|
South Orange Village |
S340103-02 |
$2,002,500 |
$2,670,000 |
|
Brick Township MUA |
S340448-14 |
$1,500,000 |
$2,000,000 |
|
West Deptford Township |
S340947-06 |
$3,540,000 |
$4,720,000 |
|
Bordentown City |
S340219-04 |
$3,000,000 |
$4,000,000 |
|
Ship Bottom Borough |
S340311-04 |
$2,062,500 |
$2,750,000 |
|
Total Projects: 156 |
|
$1,420,995,476 |
$1,894,660,629 |
(2) The department is authorized to make clean water and drinking water project loans to the following municipalities receiving funding from the "Pinelands Infrastructure Trust Fund," established pursuant to section 14 of the "Pinelands Infrastructure Trust Bond Act of 1985," P.L.1985, c.302:
|
Project Sponsor |
Project Number |
Estimated Total Loan Amount |
|
Pemberton Twp. |
Pinelands 1 |
$2,929,000 |
|
Manchester Twp./Jackson MUA |
Pinelands 2 |
$7,192,035 |
|
Galloway Twp. |
Pinelands 4 |
$3,493,440 |
|
Winslow Twp. |
Pinelands 5 |
$1,728,940 |
|
Total Pinelands Projects: 4 |
$15,343,415 |
b. The following environmental infrastructure projects shall be known and may be cited as the "Storm Sandy and State Fiscal Year 2025 Drinking Water Project Eligibility List":
|
Project Sponsor |
Project Number |
Estimated Allowable Trust Loan Amount |
Estimated Total Loan Amount |
|
Passaic Valley Water Commission |
1605002-002 |
$54,000,000 |
$72,000,000 |
|
Lakewood Township MUA |
1514002-001 |
$11,250,000 |
$15,000,000 |
|
Orange City |
0717001-013 |
$975,000 |
$1,300,000 |
|
Newark City |
0714001-022 |
$18,000,000 |
$24,000,000 |
|
New Brunswick City |
1214001-005 |
$47,250,000 |
$63,000,000 |
|
Camden City |
0408001-001 |
$41,250,000 |
$55,000,000 |
|
Netcong Borough |
1428001-001 |
$90,000 |
$120,000 |
|
Red Bank Borough |
1340001-004 |
$6,600,000 |
$8,800,000 |
|
Hopatcong Borough |
1912001-002 |
$1,500,000 |
$2,000,000 |
|
Bloomfield Township |
0702001-004 |
$3,000,000 |
$4,000,000 |
|
Ridgewood Village |
0251001-001 |
$30,000,000 |
$40,000,000 |
|
Belleville Township |
0701001-008 |
$2,676,564 |
$3,568,752 |
|
Livingston Township |
0710001-001 |
$9,000,000 |
$12,000,000 |
|
Livingston Township |
0710001-002 |
$3,750,000 |
$5,000,000 |
|
Livingston Township |
0710001-003 |
$13,500,000 |
$18,000,000 |
|
Waldwick Borough |
0264001-003 |
$5,250,000 |
$7,000,000 |
|
Ho-Ho-Kus Borough |
0228001-002 |
$3,000,000 |
$4,000,000 |
|
Essex Fells Borough |
0706001-003 |
$7,500,000 |
$10,000,000 |
|
Lake Stockholm Systems, Inc. |
1911002-001 |
$1,725,000 |
$2,300,000 |
|
Brick Township MUA |
1506001-011 |
$15,667,500 |
$20,890,000 |
|
East Orange City |
0705001-014 |
$24,750,000 |
$33,000,000 |
|
High Bridge Borough |
1014001-004 |
$1,875,000 |
$2,500,000 |
|
Newton Town |
1915001-001 |
$600,000 |
$800,000 |
|
Merchantville Pennsauken Water Commission |
0424001-004 |
$6,525,000 |
$8,700,000 |
|
East Greenwich |
0803001-004 |
$4,500,000 |
$6,000,000 |
|
NJ American Water Company, Incorporated |
2004002-012 |
$48,750,000 |
$65,000,000 |
|
Seaside Heights Borough |
1526001-002 |
$7,500,000 |
$10,000,000 |
|
Old Bridge MUA |
1209002-014 |
$1,312,500 |
$1,750,000 |
|
Hackettstown MUA |
2108001-002 |
$757,500 |
$1,010,000 |
|
Hawthorne Borough |
1604001-003 |
$2,100,000 |
$2,800,000 |
|
Brick Township MUA |
1506001-014 |
$2,700,000 |
$3,600,000 |
|
NJ American Water Company, Inc. |
0323001-005 |
$6,375,000 |
$8,500,000 |
|
Verona Township |
0720001-006 |
$2,625,000 |
$3,500,000 |
|
Hawthorne Borough |
1604001-002 |
$7,500,000 |
$10,000,000 |
|
Upper Deerfield Township |
0613004-002 |
$3,300,000 |
$4,400,000 |
|
Jersey City MUA |
0906001-025 |
$31,500,000 |
$42,000,000 |
|
Willingboro MUA |
0338001-010 |
$5,400,000 |
$7,200,000 |
|
Jersey City MUA |
0906001-009 |
$3,750,000 |
$5,000,000 |
|
NJ American Water Company, Incorporated. |
0712001-016 |
$39,375,000 |
$52,500,000 |
|
Old Bridge MUA |
1209002-005 |
$3,525,000 |
$4,700,000 |
|
Allentown Borough |
1302001-004 |
$1,746,720 |
$2,328,960 |
|
Stone Harbor Borough |
0510001-001 |
$9,000,000 |
$12,000,000 |
|
Newton Town |
1915001-003 |
$138,750 |
$185,000 |
|
Hightstown Borough |
1104001-011 |
$825,000 |
$1,100,000 |
|
Hoboken City |
0905001-003 |
$7,500,000 |
$10,000,000 |
|
Berkeley Township MUA |
1505323-001 |
$1,575,000 |
$2,100,000 |
|
Lakehurst Borough |
1513001-002 |
$900,000 |
$1,200,000 |
|
Shore Water Company |
1505003-001 |
$750,000 |
$1,000,000 |
|
North Brunswick Township |
1215001-008 |
$4,875,000 |
$6,500,000 |
|
Deptford Township MUA |
0802001-002 |
$1,425,000 |
$1,900,000 |
|
Deptford Township MUA |
0802001-003 |
$1,275,000 |
$1,700,000 |
|
East Windsor MUA |
1101002-005 |
$1,500,000 |
$2,000,000 |
|
Little Egg Harbor MUA |
1516001-007 |
$1,875,000 |
$2,500,000 |
|
Clinton Town |
1005001-012 |
$2,625,000 |
$3,500,000 |
|
Long Beach Township |
1517001-015 |
$3,119,401 |
$4,159,201 |
|
Allentown Borough |
1302001-002 |
$411,825 |
$549,100 |
|
Farmingdale Borough |
1314001-002 |
$680,250 |
$907,000 |
|
Roosevelt Borough |
1314001-003 |
$600,000 |
$800,000 |
|
Roosevelt Borough |
1341001-008 |
$750,000 |
$1,000,000 |
|
Robbinsville Township |
1112001-001 |
$1,650,000 |
$2,200,000 |
|
Woodland Heights Homeowners Association |
1615022-001 |
$420,000 |
$560,000 |
|
Willingboro MUA |
0338001-014 |
$2,625,000 |
$3,500,000 |
|
Marlboro Township |
1328002-003 |
$1,285,500 |
$1,714,000 |
|
Brookwood Musconetcong River Property Owners Association |
1904001-005 |
$750,000 |
$1,000,000 |
|
Rosemont Water Company |
1007002-004 |
$75,000 |
$100,000 |
|
Mount Arlington Borough |
1426005-001 |
$1,575,000 |
$2,100,000 |
|
Tuckerton Borough |
1532002-001 |
$225,000 |
$300,000 |
|
Willingboro MUA |
0338001-005 |
$1,500,000 |
$2,000,000 |
|
Hopatcong Borough |
1912001-004 |
$75,000 |
$100,000 |
|
Lavallette Borough |
1515001-002 |
$2,850,000 |
$3,800,000 |
|
Harvey Cedars Borough |
1509001-002 |
$825,000 |
$1,100,000 |
|
High Bridge Borough |
1014001-001 |
$75,000 |
$100,000 |
|
Total Projects: 72 |
|
$536,206,510 |
$714,942,013 |
c. The department is authorized to adjust the allowable department loan amount for projects authorized in this section to between zero percent and 100 percent of the total allowable loan amount, and, if the department loan amount is adjusted to 100 percent of the total allowable loan amount, the loan shall be provided pursuant to the terms and conditions of the financing program year in which the construction loan component of the project was certified by the department, and for which the trust issued an interim financing program loan, or, in the absence of an interim financing program loan, the terms and conditions of the State fiscal year 2025 financing program.
4. Any financing loan made by the department pursuant to this act shall be subject to the following requirements:
a. The Commissioner of Environmental Protection has certified that the project is in compliance with the provisions of P.L.1977, c.224, P.L.1985, c.329, P.L.1992, c.88, P.L.1997, c.223, P.L.1997, c.225, or P.L.2003, c.162, and any rules and regulations adopted pursuant thereto;
b. Except as otherwise provided in this subsection, a loan for an environmental infrastructure project listed in section 2 or 3 of this act shall be subject to the terms and conditions of the financing program year in which the construction loan component of the project was certified by the department, and for which the trust issued an interim financing program loan, or, in the absence of an interim financing program loan, the terms and conditions of the State fiscal year 2025 financing program;
c. Notwithstanding the provisions of sections 2 and 3 of this act, the department allowable loan amount may be 100 percent of the total allowable loan amount for:
(1) clean water project and drinking water project loans to (a) municipalities that do not satisfy the New Jersey Infrastructure Bank credit policy but are subject to State financial supervision and oversight pursuant to the "Local Government Supervision Act (1947)," P.L.1947, c.151 (C.52:27BB-1 et seq.), or (b) municipal, county, or regional sewerage authorities, or utilities authorities, that do not satisfy the New Jersey Infrastructure Bank credit policy but where the municipal participant through its service agreement with the authority or utility is under State financial supervision and oversight pursuant to the "Local Government Supervision Act (1947)," P.L.1947, c.151 (C.52:27BB-1 et seq.), and the repayment obligation of the authority or utility is secured by the full faith and credit of the participating municipality pursuant to the service agreement;
(2) clean water and drinking water loans to municipalities receiving funding under the United States Department of Housing and Urban Development Community Development Block Grant - Disaster Recovery Program (CDBG-DR); and
(3) clean water loans to municipal, county, or regional sewerage authorities that qualify for Sewer Overflow and Stormwater Reuse grants for combined sewer overflows or stormwater management projects;
d. With the exception of a loan for which the department issues 100 percent of the loan amount pursuant to subsection b. of section 2, subsection c. of section 3, and subsection c. of this section, the loan shall be conditioned upon approval of a loan from the New Jersey Infrastructure Bank pursuant to P.L.2024, c. (pending before the Legislature as Senate Bill No. 3383 of the 2024-25 session and Assembly Bill No. 4425 of the 2024-25 session);
e. The loan shall be repaid within a period not to exceed 30 years, or 35 years for loans funded pursuant to the federal "Water Infrastructure Finance and Innovation Act of 2014," 33 U.S.C. s.3901 et seq. as amended and supplemented, or 45 years for combined sewer overflow abatement projects, of the making of the loan; and
f. The loan shall be subject to any other terms and conditions as may be established by the commissioner and approved by the State Treasurer, which may include, notwithstanding any other provision of law to the contrary, subordination of a loan authorized in this act to loans made by the New Jersey Infrastructure Bank pursuant to P.L.2024, c. (pending before the Legislature as Senate Bill No. 3383 of the 2024-25 session and Assembly Bill No. 4425 of the 2024-25 session), or to administrative fees payable to the trust pursuant to subsection o. of section 5 of P.L.1985, c.334 (C.58:11B-5).
g. Notwithstanding the provisions of any applicable law or regulation to the contrary, drinking water projects may be funded by the "Pinelands Infrastructure Trust Fund" established pursuant to section 14 of the "Pinelands Infrastructure Trust Bond Act of 1985," P.L.1985, c.302. Drinking water projects financed by the Pinelands Infrastructure Trust Fund shall be funded in accordance with the regulations applicable to the financing of wastewater projects by the Pinelands Infrastructure Trust Fund unless and until regulations specific to the financing of drinking water projects are promulgated.
5. Any Sandy financing loan made by the department pursuant to this act shall be subject to the following requirements:
a. The commissioner has certified that the project is in compliance with the provisions of Title X, Chapter 7 of the Federal Disaster Relief Appropriations Act;
b. The commissioner has certified that the project is in compliance with the provisions of P.L.1977, c.224, P.L.1985, c.329, P.L.1992, c.88, P.L.1997, c.223, P.L.1997, c.225 or P.L.2003, c.162, and any rules and regulations adopted pursuant thereto; and
c. The loan shall be subject to any other terms and conditions as may be established by the commissioner and approved by the State Treasurer, which may include, notwithstanding any other provision of law to the contrary, subordination of a loan authorized in this act to loans made by the trust pursuant to P.L.2024, c. (pending before the Legislature as Senate Bill No. 3383 of the 2024-25 session and Assembly Bill No. 4425 of the 2024-25 session), or to administrative fees payable to the trust pursuant to subsection o. of section 5 of P.L.1985, c.334 (C.58:11B-5).
6. The eligibility lists and authorization for the making of loans pursuant to sections 2 and 3 of this act shall expire on July 1, 2025, and any project sponsor which has not executed and delivered a loan agreement with the department for a loan authorized in this act shall no longer be entitled to that loan.
7. The Commissioner of Environmental Protection is authorized to reduce or increase the individual amount of loan funds made available to or on behalf of project sponsors pursuant to sections 2 and 3 of this act based upon final or low bid building costs defined in and determined in accordance with rules and regulations adopted by the commissioner pursuant to section 4 of P.L.1985, c.329, section 2 of P.L.1999, c.362 (C.58:12A-12.2), or section 5 of P.L.1981, c.261, provided that the total loan amount does not exceed the estimated total allowable loan amount. The commissioner is authorized to reduce or increase the individual amount of loan funds made available to or on behalf of project sponsors pursuant to sections 2 and 3 of this act in an amount not to exceed 10 percent of the total allowable loan amount based upon additional project costs to comply with the department's guidance for asset management, emergency response, flood protection, and auxiliary power.
8. The expenditure of the funds appropriated by this act is subject to the provisions and conditions of P.L.1977, c.224, P.L.1085, c.302, P.L.1985, c.329, P.L.1989, c.181, P.L.1992, c.88, P.L.1997, c.223, P.L.1997, c.225 or P.L.2003, c.162, and the rules and regulations adopted by the Commissioner of Environmental Protection pursuant thereto, and the provisions of the Federal Disaster Relief Appropriations Act, the Federal Clean Water Act, and the Federal Safe Drinking Water Act, and any amendatory and supplementary acts thereto.
9. The department shall provide general technical assistance to any project sponsor requesting assistance regarding environmental infrastructure project development or applications for funds for a project.
10. a. Prior to repayment to the Clean Water State Revolving Fund pursuant to sections 1 and 2 of P.L.2009, c.77 and any amendatory and supplementary acts thereto, prior to repayment to the "Wastewater Treatment Fund" pursuant to the provisions of section 16 of P.L.1985, c.329, prior to repayment to the "1992 Wastewater Treatment Fund" pursuant to the provisions of section 28 of P.L.1992, c.88, prior to repayment to the Drinking Water State Revolving Fund, prior to repayment to the "Stormwater Management and Combined Sewer Overflow Abatement Fund" pursuant to the provisions of section 15 of P.L.1989, c.181, prior to repayment to the "2003 Water Resources and Wastewater Treatment Fund" pursuant to the provisions of section 20 of P.L.2003, c.162, prior to repayment to the "Water Supply Fund" pursuant to the provisions of section 15 of P.L.1981, c.261, or prior to the repayment to the "Pinelands Infrastructure Trust Fund" pursuant to the provisions of section 5 of P.L.1985, c.302, repayments of loans made pursuant to these acts may be utilized by the New Jersey Infrastructure Bank established pursuant to P.L.1985, c.334 (C.58:11B-1 et seq.), as amended and supplemented by P.L.1997, c.224, under terms and conditions established by the commissioner and trust, approved by the State Treasurer, and consistent with the provisions of P.L.1985, c.334 (C.58:11B-1 et seq.) and federal tax, environmental or securities law, to the extent necessary to secure repayment of trust bonds issued to finance loans approved pursuant to P.L.2024, c. (pending before the Legislature as Senate Bill No. 3383 of the 2024-25 session and Assembly Bill No. 4425 of the 2024-25 session), and to secure the administrative fees payable to the trust pursuant to subsection o. of section 5 of P.L.1985, c.334 (C.58:11B-5) by the project sponsors receiving trust loans.
b. Prior to repayment to the Clean Water State Revolving Fund pursuant to section 1 and 2 of P.L.2009, c.77 and any amendatory and supplementary acts thereto, prior to repayment to the "Wastewater Treatment Fund" pursuant to the provisions of section 16 of P.L.1985, c.329, prior to repayment to the "1992 Wastewater Treatment Fund" pursuant to the provisions of section 28 of P.L.1992, c.88, prior to repayment to the "Water Supply Fund" pursuant to the provisions of section 15 of P.L.1981, c.261, prior to repayment to the Drinking Water State Revolving Fund, prior to repayment to the "2003 Water Resources and Wastewater Treatment Fund" pursuant to the provisions of section 20 of P.L.2003, c.162, prior to repayment to the "Stormwater Management and Combined Sewer Overflow Abatement Fund" pursuant to the provisions of section 15 of P.L.1989, c.181, or prior to repayment to the "Pinelands Infrastructure Trust Fund" pursuant to the provisions of section 5 of P.L.1985, c.302, the trust is further authorized to utilize repayments of loans made pursuant to P.L.1989, c.189, P.L.1990, c.99, P.L.1991, c.325, P.L.1992, c.38, P.L.1993, c.193, P.L.1994, c.106, P.L.1995, c.219, P.L.1996, c.85, P.L.1997, c.221, P.L.1998, c.84, P.L.1999, c.174, P.L.2000, c.92, P.L.2001, c.222, P.L.2002, c.70, P.L.2003, c.158, P.L.2004, c.109, P.L.2005, c.196, P.L.2006, c.68, P.L.2007, c.139, P.L.2008, c.68, P.L.2009, c.102, P.L.2010, c.63, P.L.2011, c.93, P.L.2012, c.43, P.L.2013, c.95, P.L.2014, c.25, P.L.2015, c.108, P.L.2016, c.32, P.L.2017, c.143, as amended by P.L.2017, c.326, P.L.2018, c.85, as amended by P.L.2018, c.137, P.L.2019, c.12, P.L.2019, c.193, as amended by P.L.2019, c.514, P.L.2020, c.49, as amended by P.L.2021, c.21, P.L.2021, c.203, as amended by P.L.2021, c.328, P.L.2022, c.99, as amended by P.L.2023, c.6, P.L.2023, c.120, as amended by P.L.2023, c.344, or P.L.2024, c. (pending before the Legislature as this bill) to secure repayment of trust bonds issued to finance loans approved pursuant to P.L.1995, c.218, P.L.1996, c.87, P.L.1997, c.222, P.L.1998, c.85, P.L.1999, c.173, P.L.2000, c.93, P.L.2001, c.224, P.L.2002, c.71, P.L.2003, c.159, P.L.2004, c.110, P.L.2005, c.197, P.L.2006, c.67, P.L.2007, c.140, P.L.2008, c.67, P.L.2009, c.101, P.L.2010, c.62, P.L.2011, c.95, P.L.2012, c.38, P.L.2013, c.94, P.L.2014, c.26, P.L.2015, c.107, P.L.2016, c.31, P.L.2017, c.142, as amended by P.L.2017, c.327, P.L.2018, c.84, as amended by P.L.2019, c.30, P.L.2019, c.192, as amended by P.L.2019, c.515, P.L.2020, c.48, as amended by P.L.2021, c.22, P.L.2021, c.204, as amended by P.L.2021, c.316, P.L.2022, c.100, as amended by P.L.2023, c.5, P.L.2023, c.119, as amended by P.L.2023, c.343, or P.L.2024, c. (pending before the Legislature as Senate Bill No. 3383 of the 2024-25 session and Assembly Bill No. 4425 of the 2024-25 session), and to secure the administrative fees payable to the trust under these loans pursuant to subsection o. of section 5 of P.L.1985, c.334 (C.58:11B-5).
c. To the extent that any loan repayment sums are used to satisfy any trust bond repayment or administrative fee payment deficiencies, the trust shall repay such sums to the department for deposit into the Clean Water State Revolving Fund, the "Wastewater Treatment Fund," the "1992 Wastewater Treatment Fund," the "Water Supply Fund," the Drinking Water State Revolving Fund, the "2003 Water Resources and Wastewater Treatment Fund," the "Stormwater Management and Combined Sewer Overflow Abatement Fund," or the "Pinelands Infrastructure Trust Fund," as appropriate, from amounts received by or on behalf of the trust from project sponsors causing any such deficiency.
11. The Commissioner of Environmental Protection is authorized to enter into capitalization grant agreements as may be required pursuant to the Federal Disaster Relief Appropriations Act, the Federal Clean Water Act, or the Federal Safe Drinking Water Act.
12. There is appropriated to the New Jersey Infrastructure Bank established pursuant to P.L.1985, c.334 (C.58:11B-1 et seq.) from repayments of loans and interest deposited in any account, on or before June 30, 2025, including the "Clean Water State Revolving Fund," the "1992 Wastewater Treatment Fund," the "Water Supply Fund," the "Stormwater Management and Combined Sewer Overflow Abatement Fund," the "2003 Water Resources and Wastewater Treatment Fund," or the Drinking Water State Revolving Fund, as appropriate, and from any net earnings received from the investment and reinvestment of such deposits, such sums as the chairperson or secretary of the trust shall certify to the Commissioner of Environmental Protection to be necessary and appropriate for deposit into one or more reserve funds or accounts established by the trust pursuant to section 11 of P.L.1985, c.334 (C.58:11B-11).
13. There is appropriated to
the New Jersey Infrastructure Bank established pursuant to P.L.1985, c.334
(C.58:11B-1 et seq.), funds from the Federal Disaster Relief Appropriations Act
deposited in any account including the Clean Water State Revolving Fund, the "Water
Supply Fund," or the Drinking Water State Revolving Fund, as appropriate,
funds transferred by the department to the New Jersey Infrastructure Bank
pursuant to paragraph (21) of subsection a. of section 1 of P.L.2024,
c. (pending before the Legislature as this bill), and funds
from any net earnings received from the investment and reinvestment of such
deposits, such sums as the chairperson of the trust certifies to the
Commissioner of Environmental Protection to be necessary and appropriate for
deposit into one or more reserve funds or accounts established by the trust
pursuant to section 11 of P.L.1985, c.334 (C.58:11B-11).
14. This act shall take effect immediately.
STATEMENT
This bill appropriates certain federal and State moneys to the Department of Environmental Protection (DEP) for the purpose of implementing the State Fiscal Year 2025 New Jersey Environmental Infrastructure Financing Program (NJEIFP). The bill would appropriate these funds for the purpose of making loans to local governments and privately-owned water companies (project sponsors) for a portion of the costs of water infrastructure projects. A companion bill, Senate Bill No. 3383 of this session, would authorize the New Jersey Infrastructure Bank (NJIB) to execute loans using the funds appropriated to the DEP by this bill to finance a portion of the costs of the clean water and drinking water projects enumerated by the bill.
The bill would authorize the DEP to use the moneys appropriated by the bill to fund the following projects:
(1) in subsection a. of section 2 of the bill, a list of six projects to improve water discharge and treatment systems that had previously received a loan and require supplemental loans, representing $77.3 million in estimated total loan amounts;
(2) in subsection b. of section 2 of the bill, a list of two projects to improve drinking water systems that had previously received a loan and require supplemental loans, representing $26.5 million in estimated total loan amounts;
(3) in paragraph (1) of subsection a. of section 3 of the bill, the "Storm Sandy and State Fiscal Year 2025 Clean Water Project Eligibility List," a list of 156 projects to improve water discharge and treatment systems, representing $1.9 billion in estimated total loan amounts;
(4) in paragraph (2) of subsection a. of section 3 of the bill, a list of four projects in the Pinelands area that are receiving funding under the "Pinelands Infrastructure Trust Bond Act of 1985," P.L.1985, c.302, to improve water discharge and treatment systems, representing $15.3 million in estimated total loan amounts; and
(5) in subsection b. of section 3 of the bill, the "Storm Sandy and State Fiscal Year 2025 Drinking Water Project Eligibility List," a list of 72 projects to improve drinking water systems, representing $714.9 million in estimated total loan amounts.
The bill would also appropriate the unexpended balances from various funds to the DEP, and allow the DEP to transfer moneys between various State funds, for the purpose of funding the NJEIFP and providing the State match for federal funding provided under the federal laws, including the Clean Water Act and Safe Drinking Water Act, as detailed in subsection a. of section 1 of the bill. In addition, the bill would appropriate to the DEP funds deposited in the "Clean Water State Revolving Fund" and the "Drinking Water State Revolving Fund" pursuant to the federal "Infrastructure Investment and Jobs Act," Pub. L. 117-58.
The bill would authorize loans to certain project sponsors to include zero interest or principal forgiveness, subject to certain funding limits and restrictions detailed in subsections b. through e. of section 1 of the bill. Projects designated for zero interest or principal forgiveness loans include projects that reduce or eliminate discharges from combined sewer overflow outfalls, water quality restoration projects, water and energy efficiency projects, and emerging contaminant projects.
The bill would establish certain requirements on loans to project sponsors made by the DEP pursuant to the bill, as enumerated in section 4 of the bill. The bill would also establish additional restrictions, described in section 5 of the bill, for "Sandy financing loans," which are those loans that utilize federal funding provided pursuant to the federal "Disaster Relief Appropriations Act, 2013," Pub.L. 113-2. Under the bill, the project lists and the DEP's authorization to utilize the funds appropriated by the bill would expire on July 1, 2025.
The bill would also authorize the NJIB to utilize repayments of loans made using moneys from various State funds, enumerated in subsections a. and b. of section 10 of the bill, to recoup trust bond repayments and administrative fees that have not been paid by project sponsors instead of redepositing the money into the funds. However, the bill would also require the NJIB to make a compensatory deposit into certain State funds, enumerated in subsection c. of section 10 of the bill, when the NJIB receives the deficient payments or fees from the project sponsor. Finally, the bill would appropriate to the NJIB, from repayments of loans, interest payments, certain federal funds, and any earnings received from the investment of those funds, as enumerated in sections 12 and 13 of the bill, such amounts as the chairperson or secretary of the NJIB certifies are necessary and appropriate for deposit into one or more reserve funds established by the NJIB.
