Bill Text: NJ S981 | 2018-2019 | Regular Session | Introduced
Bill Title: Requires projects financed by NJ Environmental Infrastructure Financing Program to use iron and steel products produced in U.S.
Spectrum: Partisan Bill (Democrat 1-0)
Status: (Failed) 2018-03-08 - Withdrawn from Consideration [S981 Detail]
Download: New_Jersey-2018-S981-Introduced.html
Sponsored by:
Senator TROY SINGLETON
District 7 (Burlington)
SYNOPSIS
Requires projects financed by NJ Environmental Infrastructure Financing Program to use iron and steel products produced in U.S.
CURRENT VERSION OF TEXT
As introduced.
An Act concerning iron and steel products used in environmental infrastructure projects and supplementing P.L.1985, c.334 (C.58:11B-1 et seq.).
Be It Enacted by the Senate and General Assembly of the State of New Jersey:
1. a. Notwithstanding the provisions of any law, or any rule or regulation adopted pursuant thereto, to the contrary, the New Jersey Environmental Infrastructure Financing Program shall not finance any environmental infrastructure project, in whole or in part, unless all of the iron and steel products used in the project are produced in the United States.
b. This section shall not apply if:
(1) the project sponsor certifies in writing to the trust that iron and steel products are not produced in the United States in sufficient and reasonably available quantities or are not of satisfactory quality;
(2) inclusion of iron and steel products produced in the United States would increase the cost of the overall project by more than 10 percent; or
(3) the commissioner determines that application of this section would be inconsistent with the public interest.
c. For the purposes of this section, "iron and steel products" means the following products made primarily of iron and steel: lined or unlined pipes and fittings, manhole covers and other municipal castings, hydrants, tanks, flanges, pipe clamps and restraints, valves, structural steel, reinforced precast concrete, and construction materials.
2. This act shall take effect immediately, but shall not apply to any project for which financing has been approved by the trust prior to the effective date of this act.
STATEMENT
This bill would require projects financed by the New Jersey Environmental Infrastructure Financing Program (NJEIFP) to use iron and steel products produced in the United States. The NJEIFP would be prohibited from financing a project that does not meet the requirements of this bill. However, the requirements would not apply if: (1) the project sponsor certifies in writing to the trust that iron and steel products are not produced in the U.S. in sufficient and reasonably available quantities or are not of satisfactory quality; (2) inclusion of iron and steel products produced in the U.S. would increase the cost of the overall project by more than 10 percent; or (3) the Commissioner of Environmental Protection determines that application of the bill would be inconsistent with the public interest. The bill would not apply to any project approved for financing prior to the effective date of the bill.
