ASSEMBLY, No. 5810 STATE OF NEW JERSEY 220th LEGISLATURE INTRODUCED NOVEMBER 30, 2023
ASSEMBLY, No. 5810
STATE OF NEW JERSEY
220th LEGISLATURE
INTRODUCED NOVEMBER 30, 2023
Sponsored by: Assemblyman WILLIAM B. SAMPSON, IV District 31 (Hudson) SYNOPSIS Amends lists of environmental infrastructure projects approved for long-term funding by DEP under FY 2024 environmental infrastructure funding program. CURRENT VERSION OF TEXT As introduced.
Sponsored by:
Assemblyman WILLIAM B. SAMPSON, IV
District 31 (Hudson)
SYNOPSIS
Amends lists of environmental infrastructure projects approved for long-term funding by DEP under FY 2024 environmental infrastructure funding program.
CURRENT VERSION OF TEXT
As introduced.
An Act concerning the financing of environmental infrastructure projects in Fiscal Year 2024 and amending P.L.2023, c.120. Be It Enacted by the Senate and General Assembly of the State of New Jersey: 1. Section 1 of P.L.2023, c.120 is amended to read as follows: 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 2023 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 2023 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] P.L.2023, c.120, as amended by P.L. , c. (pending before the Legislature as this bill), 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, 2024, 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, 2024, 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, 2024, 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, 2024, 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, 2024, 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, 2024, 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, 2024, 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, 2024, 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, 2024, 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, 2024, 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, 2024, 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, 2024, 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, 2024, 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.2023, c.119, as amended by P.L. , c. (pending before the Legislature as Senate Bill No. of the 2022-23 session and Assembly Bill No. of the 2022-23 session), as may be available on or before June 30, 2024, 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] P.L.2023, c.120, as amended by P.L. , c. (pending before the Legislature as this bill), and for the purpose of implementing and administering the provisions of [this act] P.L.2023, c.120, as amended by P.L. , c. (pending before the Legislature as this bill), 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 2023 appropriations act, P.L.2022, c.49, plus any appropriated funds designated in State fiscal years 2021 and 2022, 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 2024 appropriations act, P.L.2023, c.74, the department is authorized to utilize up to $40 million for principal forgiveness loans to disadvantaged communities for planning and design costs associated with clean water or drinking water environmental infrastructure projects. (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 2024 appropriations act, P.L.2023, c.74, the department is authorized to utilize up to $40 million for project loans to disadvantaged communities participating in the department's technical assistance program. (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, 2024. 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] P.L.2023, c.120, as amended by P.L. , c. (pending before the Legislature as this bill), 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] P.L.2023, c.120, as amended by P.L. , c. (pending before the Legislature as this bill), or by the Commissioner of Environmental Protection pursuant to section 7 of [this act] P.L.2023, c.120, as amended by P.L. , c. (pending before the Legislature as this bill). (1) A maximum of $30 million in principal forgiveness, plus any appropriated but unallocated funds designated in State fiscal year 2023 for combined sewer overflow projects, shall be issued as provided in subsection a. of section 3 of [this act] P.L.2023, c.120, as amended by P.L. , c. (pending before the Legislature as this bill), 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 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 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 for the first $10 million in allowable costs. For project costs greater than $10 million, the loan shall have a blended interest rate of 50 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 2023 for combined sewer overflow projects shall be issued as provided in subsection a. of section 3 of [this act] P.L.2023, c.120, as amended by P.L. , c. (pending before the Legislature as this bill), 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 not exceed $5 million per borrower whenever practicable. For project costs up to and including $5 million, 100 percent of the principal of the loan shall be forgiven. For project costs greater than $5 million and up to and including $10 million, the loan shall have a blended interest rate of 50 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. For project costs greater than $10 million up to and including $20 million, the loan shall have the terms as provided in paragraph (4) of this subsection applicable to clean water projects sponsored by applicants that meet the "Clean Water State Revolving Fund" affordability criteria. (3) A maximum of $6 million in principal forgiveness loans, plus any appropriated but unallocated funds designated in State fiscal year 2023 for water quality restoration projects, shall be issued as provided in subsection a. of section 3 of [this act] P.L.2023, c.120, as amended by P.L. , c. (pending before the Legislature as this bill), 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 and up to and including $10 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 for the first $10 million in allowable costs. For project costs greater than $10 million, the loan shall have a blended interest rate of 50 percent of the trust's market rate. (4) A maximum of $36 million in principal forgiveness loans, plus any appropriated but unallocated funds designated in State fiscal year 2023, 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] P.L.2023, c.120, as amended by P.L. , c. (pending before the Legislature as this bill). 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 $2 million, 100 percent of the principal of the loan shall be forgiven. For project costs greater than $2 million and up to and including $4 million, the loan shall have a blended interest rate of 50 percent of the trust's market rate. For project costs greater than $4 million and up to and including $10 million, 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 for the first $10 million in allowable costs. For project costs greater than $10 million, the loan shall have a blended interest rate of 50 percent of the trust's market rate. (5) A maximum of $18 million in principal forgiveness loans, plus any appropriated but unallocated funds designated in State fiscal year 2023, for water and energy efficiency projects shall be issued as provided in subsection a. of section 3 of [this act] P.L.2023, c.120, as amended by P.L. , c. (pending before the Legislature as this bill), 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 and up to and including $10 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 for the first $10 million in allowable costs. For project costs greater than $10 million, the loan shall have a blended interest rate of 50 percent of the trust's market rate. (6) A maximum of $9 million in principal forgiveness loans for emerging contaminant projects shall be issued as provided in subsection a. of section 3 of [this act] P.L.2023, c.120, as amended by P.L. , c. (pending before the Legislature as this bill), 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. 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 $2 million, 100 percent of the principal of the loan shall be forgiven. For project costs greater than $2 million and up to and including $4 million, the loan shall have a blended interest rate of 50 percent of the trust's market rate. For project costs greater than $4 million and up to and including $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 for the first $10 million in allowable costs. For project costs greater than $10 million, the loan shall have a blended interest rate of 50 percent of the trust's market rate. (7) A maximum of $4 million in principal forgiveness loans, plus any appropriated but unallocated funds designated in State fiscal year 2023, 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) Of the sums appropriated to the department by the federal "American Rescue Plan Act," Pub.L. 117-2, a maximum of $148 million in principal forgiveness loans shall be issued as provided in subsection a. of section 3 of [this act] P.L.2023, c.120, as amended by P.L. , c. (pending before the Legislature as this bill), 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) The projects listed in subsection a. of section 2 of [this act] P.L.2023, c.120, as amended by P.L. , c. (pending before the Legislature as this bill), and subsection a. of section 3 of [this act] P.L.2023, c.120, as amended by P.L. , c. (pending before the Legislature as this bill), that were previously identified in P.L.2022, c.99, as amended by P.L.2023, c.6, are granted continued priority status and shall be subject to the provisions of P.L.2022, c.99, as amended by P.L.2023, c.6, provided such projects receive short-term funding prior to June 30, 2023. 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] P.L.2023, c.120, as amended by P.L. , c. (pending before the Legislature as this bill), for drinking water projects, up to the individual amounts indicated and in the priority stated, provided: (1) up to $4 million of Drinking Water State Revolving Fund loans, plus any appropriated but unallocated funds designated in State fiscal year 2023 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 $500,000 in the aggregate and shall not exceed 50 percent of the total loan amount per project sponsor in an amount not to exceed $1 million per project sponsor; (2) up to $5 million in principal forgiveness loans shall be available for drinking water systems that serve fewer than 1,000 persons, have been assisted by the Community Engineering Corps, and do not meet credit eligibility requirements of the Water Bank Financing Program credit policy. A loan issued pursuant to this paragraph shall have 100 percent principal forgiveness for a loan amount of up to $1 million per applicant; (3) a maximum of $13 million of principal forgiveness loans 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; (4) up to $7 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. 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 $2 million, 100 percent of the principal of the loan shall be forgiven. For project costs greater than $2 million and up to and including $4 million, the loan shall have a blended interest rate of 50 percent of the trust's market rate. For project costs greater than $4 million and up to and including $10 million, the loan shall have a blended interest rate of 25 percent of the trust's market rate; (5) up to $25 million plus any appropriated but unallocated funds designated in State fiscal year 2023, and up to $10 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, for which 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 $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 and up to and including $20 million, the loan shall have a blended interest rate of 25 percent of the trust's market rate. For project costs greater than $20 million and up to and including $40 million, the loan shall have a blended interest rate of 50 percent of the trust's market rate. For project costs over $40 million, the loan may be financed at 100 percent of the trust's market rate, as capacity allows; 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 2023, 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. The amount of principal forgiveness issued pursuant to this paragraph shall not exceed $20 million per borrower whenever practicable. 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. 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 [this act] P.L.2023, c.120, as amended by P.L. , c. (pending before the Legislature as this bill), or if a project fails to meet the requirements of section 4 or 5 of [this act] P.L.2023, c.120, as amended by P.L. , 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] P.L.2023, c.120, as amended by P.L. , c. (pending before the Legislature as this bill), 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, [and] P.L.2022, c.99, as amended by P.L.2023, c.6, and P.L.2023, c.120, as amended by P.L. , 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, [and] P.L.2022, c.99, as amended by P.L.2023, c.6, and P.L.2023, c.120, as amended by P.L. , 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 2023 and State fiscal year 2024 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] P.L.2023, c.120, as amended by P.L. , c. (pending before the Legislature as this bill), 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] P.L.2023, c.120, as amended by P.L. , c. (pending before the Legislature as this bill), or if a project fails to meet the requirements of section 4, 5, or 7 of [this act] P.L.2023, c.120, as amended by P.L. , c. (pending before the Legislature as this bill), 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] P.L.2023, c.120, as amended by P.L. , c. (pending before the Legislature as this bill): "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). (cf: P.L.2023, c.120, s.1) 2. Section 2 of P.L.2023, c.120 is amended to read as follows: 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 [Clinton Town S340924-07R $600,000 $800,000] Hoboken City S340635-06R $30,000,000 $40,000,000 Jersey City MUA S340928-15R $2,625,000 $3,500,000 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 Passaic Valley SC S340689-40R $1,125,000 $1,500,000 Paterson City S340850-03-1 $1,912,500 $2,550,000 Plumsted Township S340607-03R $7,500,000 $10,000,000 Rutgers University S340500-01R $3,150,000 $4,200,000 Somerville Borough S342013-01-1 $1,387,500 $1,850,000 Total Projects: [11] 10 [$71,700,000] $71,100,000 [$95,600,000] $94,800,000 (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] P.L.2023, c.120, as amended by P.L. , c. (pending before the Legislature as this bill), and the loan amounts certified by the Commissioner of Environmental Protection in State fiscal years 2008, [2017, 2018,] 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] P.L.2023, c.120, as amended by P.L. , c. (pending before the Legislature as this bill). (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] P.L.2023, c.120, as amended by P.L. , c. (pending before the Legislature as this bill). 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] P.L.2023, c.120, as amended by P.L. , c. (pending before the Legislature as this bill), and the loan amounts certified by the Commissioner of Environmental Protection in State fiscal years [2017, 2019 and] 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] P.L.2023, c.120, as amended by P.L. , c. (pending before the Legislature as this bill). (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] P.L.2023, c.120, as amended by P.L. , c. (pending before the Legislature as this bill). 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 2024 financing program. (cf: P.L.2023, c.120, s.2) 3. Section 3 of P.L.2023, c.120 is amended to read as follows: 3. a. (1) The following environmental infrastructure projects shall be known and may be cited as the "Storm Sandy and State Fiscal Year 2024 Clean Water Project Eligibility List": Project Sponsor Project Number Estimated Allowable DEP Loan Amount Estimated Total Loan Amount Musconetcong SA S340384-09 $4,650,000 $6,200,000 Oakland Borough S340418-06 $5,790,000 $7,720,000 Rahway Valley SA S340547-17 [$4,350,000] $4,500,000 [$5,800,000] $6,000,000 Mendham Borough S340159-04 $2,625,000 $3,500,000 Camden County MUA S340640-29 $9,525,000 $12,700,000 Montgomery Township S340130-03 [$16,500,000] $21,750,000 [$22,000,000] $29,000,000 Newark City S340815-26 $3,300,000 $4,400,000 Camden City S340366-15 $9,997,500 $13,330,000 Camden City S230366-14 $7,027,500 $9,370,000 Camden City S340366-07 $7,500,000 $10,000,000 [Camden City S340366-15 $9,997,500 $13,330,000] Middlesex County UA S340699-18 $14,250,000 $19,000,000 Middlesex County UA S340699-17 $19,500,000 $26,000,000 Jersey City MUA S340928-40 $6,000,000 $8,000,000 Jersey City MUA S340928-21 $9,750,000 $13,000,000 Jersey City MUA S340928-24 $93,750,000 $125,000,000 Elizabeth City S340942-20 [$7,725,000] $17,250,000 [$10,300,000] $23,000,000 Elizabeth City S345070-01 $3,000,001 $4,000,001 Camden County MUA S340640-33 $21,750,000 $29,000,000 Bayonne City S340399-31 $3,750,000 $5,000,000 Kearny Town S340259-11 $12,750,000 $17,000,000 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 Mount Laurel Township MUA S340943-06 $7,875,000 $10,500,000 North Hudson SA S340952-40 $17,625,000 $23,500,000 North Hudson SA S340952-33 $20,250,000 $27,000,000 North Hudson SA S340952-39 $13,500,000 $18,000,000 [Riverside SA S340490-01 $630,000 $840,000] Perth Amboy City S340435-19 $300,000 $400,000 Perth Amboy City S345220-01 $2,437,500 $3,250,000 Hackensack City S340923-13 $12,750,000 $17,000,000 Hackensack City S340923-16 $10,500,000 $14,000,000 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 S340689-52 $50,250,000 $67,000,000 Passaic Valley SC S345200-01 $7,500,000 $10,000,000 Passaic Valley SC S340689-49 $222,102,676 $296,136,901 Passaic Valley SC S340689-33 $80,250,000 $107,000,000 Pennsville SA S340870-05 $3,000,000 $4,000,000 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 S340386-21 $5,700,000 $7,600,000 Bergen County UA S340386-23 [$37,500,000] $45,000,000 [$50,000,000] $60,000,000 Bergen County UA S340386-24 $1,462,500 $1,950,000 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 S340689-50 $6,600,000 $8,800,000 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 [$375,000] $562,500 [$500,000] $750,000 Bergen County UA S340386-26 $4,500,000 $6,000,000 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 Wildwood City S340664-06 $12,000,000 $16,000,000 Passaic Valley SC S340689-57 $15,300,000 $20,400,000 New Jersey Water Supply Authority S340421-02 $71,250,000 $95,000,000 Camden County MUA S340640-36 $11,625,000 $15,500,000 Hamilton Township S340898-06 $3,037,500 $4,050,000 Long Branch SA S340336-09 $4,200,000 $5,600,000 Stafford Township S340946-08 $2,625,000 $3,500,000 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 Manasquan River RSA 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 Delanco SA S340956-03 [$1,186,500] $1,725,000 [$1,582,000] $2,300,000 Bergen County UA S340386-25 $3,000,000 $4,000,000 Monmouth County Bayshore Outfall Authority S340325-04 $2,625,000 $3,500,000 Monmouth County Bayshore Outfall Authority S340325-04a $2,625,000 $3,500,000 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 Toms River MUA S340145-08 $1,018,800 $1,358,400 [Two Rivers Water Reclamation Authority S340117-10 $2,475,000 $3,300,000] Pleasantville City S340752-04 $3,246,413 $4,328,550 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 Parsippany Troy Hills Township S340886-05 $8,888,126 $11,850,835 Mount Laurel Township MUA S340943-07 [$2,400,000] $6,000,000 [$3,200,000] $8,000,000 North Brunswick Township S340888-03 $2,475,000 $3,300,000 North Brunswick Township S340888-04 [$1,912,500] $2,625,000 [$2,550,000] $3,500,000 Winslow Township S340895-10 $1,287,750 $1,717,000 Scotch Plains Township S340512-01 $2,025,000 $2,700,000 Hopewell Township S340282-03 $1,230,000 $1,640,000 Princeton S340656-11 $2,944,259 $3,925,678 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 Middlesex Borough S340698-03 $900,000 $1,200,000 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 [North Haledon Borough S340229-02 $75,000 $100,000] 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 Mount Arlington Borough S340451-05 $412,500 $550,000 Highlands Borough S340901-05 $6,375,000 $8,500,000 Medford Lakes Borough S340319-03 $8,250,000 $11,000,000 Mendham Borough S340159-03 $2,775,000 $3,700,000 Hamburg Borough S340149-03 $75,000 $100,000 Hamburg Borough S340149-04 [$600,000] $750,000 [$800,000] $1,000,000 Long Beach Township S340023-09 $4,923,750 $6,565,000 Borough of Wenonah S340531-01 $997,500 $1,330,000 Clinton Township SA S340873-04 $1,875,000 $2,500,000 Ship Bottom Borough S340311-05 $3,750,000 $5,000,000 Fieldsboro Borough S340522-01 [$1,200,000] $1,275,000 [$1,600,000] $1,700,000 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 Montville Township S340931-04 $2,625,000 $3,500,000 Hackensack City S340923-15 $1,200,000 $1,600,000 Camden County MUA S340640-26 $21,150,000 $28,200,000 Lower Township MUA S340810-05 $22,500,000 $30,000,000 Newtown Town S340449-04 $1,875,000 $2,500,000 Little Egg Harbor Township S340579-04 $1,530,000 $2,040,000 Gloucester Township S340364-11 $712,500 $950,000 Gloucester Township S340364-15 $1,087,500 $1,450,000 Northfield City S340508-02 $112,500 $150,000 Jersey City MUA S340928-32 [$9,225,000] $11,250,000 [$12,300,000] $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 Cumberland County Improvement Authority S342015-04 $4,439,778 $5,919,704 Sussex County MUA S342008-06 $32,250,000 $43,000,000 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 [$2,250,000] $3,000,000 [$3,000,000] $4,000,000 Ship Bottom Borough S340311-04 $2,062,500 $2,750,000 Total Projects: [116] 137 [$913,836,380] $1,563,683,971 [$1,218,448,507] $2,084,911,958 (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 2024 Drinking Water Project Eligibility List": Project Sponsor Project Number Estimated Allowable DEP Loan Amount Estimated Total Loan Amount Trenton City 1111001-011 $15,255,000 $20,340,000 Passaic Valley Water Commission 1605002-002 $54,000,000 $72,000,000 [Orange City 0717001-011 $1,162,500 $1,550,000] Orange City 0717001-013 [$525,000] $975,000 [$700,000] $1,300,000 Newark City 0714001-022 [$17,250,000] $18,000,000 [$23,000,000] $24,000,000 Bloomfield Township 0702001-003 $823,796 $1,098,395 Red Bank Borough 1340001-004 $6,600,000 $8,800,000 Trenton City 1111001-005 $23,328,750 $31,105,000 Hopatcong Borough 1912001-002 [$1,050,000] $1,500,000 [$1,400,000] $2,000,000 Bloomfield Township 0702001-004 $3,000,000 $4,000,000 Bloomfield Township 0702001-005 $6,000,000 $8,000,000 Jersey City MUA 0906001-035 $116,250,000 $155,000,000 National Park Borough 0812001-005 $1,350,000 $1,800,000 Ridgewood Village 0251001-001 $60,000,000 $80,000,000 Belleville Township 0701001-008 $2,676,564 $3,568,752 Livingston Township 0710001-003 $13,500,000 $18,000,000 Livingston Township 0710001-001 $9,000,000 $12,000,000 Livingston Township 0710001-002 $3,750,000 $5,000,000 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 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 $1,500,000 $2,000,000 Merchantville Pennsauken Water Commission 0424001-004 $6,525,000 $8,700,000 East Greenwich 0803001-004 $4,500,000 $6,000,000 Jersey City MUA 0906001-017 $1,305,180 $1,740,240 NJ American Water Company, Incorporated 2004002-012 [$15,000,000] $71,250,000 [$20,000,000] $95,000,000 Hackettstown MUA 2108001-002 $757,500 $1,010,000 Jersey City MUA 0906001-019 $5,025,000 $6,700,000 Wildwood City 0514001-006 $4,637,403 $6,183,204 Lower Township MUA 0505002-004 $9,000,000 $12,000,000 [Seaside Park Borough 1527001-004 $1,125,000 $1,500,000] Brick Township MUA 1506001-014 $2,700,000 $3,600,000 Hawthorne Borough 1604001-002 [$3,750,000] $7,500,000 [$5,000,000] $10,000,000 Hightstown Borough 1104001-009 $712,500 $950,000 Jersey City MUA 0906001-025 $26,250,000 $35,000,000 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 $21,210,000 $28,280,000 Old Bridge MUA 1209002-005 [$2,025,000] $2,925,000 [$2,700,000] $3,900,000 Clinton Town 1005001-010 [$1,980,000] $3,000,000 [$2,640,000] $4,000,000 Point Pleasant Beach Borough 1525001-002 $2,625,000 $3,500,000 Jersey City MUA 0906001-020 $4,965,000 $6,620,000 Jersey City MUA 0906001-021 $8,250,000 $11,000,000 Allentown Borough 1302001-004 $1,746,720 $2,328,960 Jersey City MUA 0906001-015 $2,691,950 $3,589,266 Brick Township MUA 1506001-008 $4,912,500 $6,550,000 Stone Harbor Borough 0510001-001 $9,000,000 $12,000,000 Hightstown Borough 1104001-011 $825,000 $1,100,000 Hoboken City 0905001-003 $7,500,000 $10,000,000 Shore Water Company 1505003-001 $750,000 $1,000,000 Ship Bottom Borough 1528001-004 $3,150,000 $4,200,000 Lakehurst Borough 1513001-002 $900,000 $1,200,000 East Windsor MUA 1101002-005 $1,500,000 $2,000,000 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 1314001-008 $750,000 $1,000,000 Robbinsville Township 1112001-001 $1,650,000 $2,200,000 Marlboro Township 1328002-003 $1,285,500 $1,714,000 Clinton Town 1005001-013 $2,250,000 $3,000,000 Washington Township MUA 1438004-001 $3,750,000 $5,000,000 Winslow Township 0436007-010 [$2,868,750] $3,000,000 [$3,825,000] $4,000,000 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 High Bridge Borough 1014001-001 $75,000 $100,000 Total Projects: [48] 70 [$320,030,299] $645,362,339 [$426,707,065] $860,483,118 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 2024 financing program. (cf: P.L.2023, c.120, s.3) 4. Section 4 of P.L.2023, c.120 is amended to read as follows: 4. Any financing loan made by the department pursuant to [this act] P.L.2023, c.120, as amended by P.L. , c. (pending before the Legislature as this bill), 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] P.L.2023, c.120, as amended by P.L. , c. (pending before the Legislature as this bill), 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 2024 financing program; c. Notwithstanding the provisions of sections 2 and 3 of [this act] P.L.2023, c.120, as amended by P.L. , c. (pending before the Legislature as this bill), 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.2023, c.119, as amended by P.L. , c. (pending before the Legislature as Senate Bill No. of the 2022-23 session and Assembly Bill No. of the 2022-23 session), prior to June 30, [2023] 2024; 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] P.L.2023, c.120, as amended by P.L. , c. (pending before the Legislature as this bill), to loans made by the New Jersey Infrastructure Bank pursuant to P.L.2023, c.119, as amended by P.L. , c. (pending before the Legislature as Senate Bill No. of the 2022-23 session and Assembly Bill No. of the 2022-23 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); and 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 Fund 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. (cf: P.L.2023, c.120, s.4) 5. Section 5 of P.L.2023, c.120 is amended to read as follows: 5. Any Sandy financing loan made by the department pursuant to [this act] P.L.2023, c.120, as amended by P.L. , c. (pending before the Legislature as this bill), 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] P.L.2023, c.120, as amended by P.L. , c. (pending before the Legislature as this bill), to loans made by the trust pursuant to P.L.2023, c.119, as amended by P.L. , c. (pending before the Legislature as Senate Bill No. of the 2022-23 session and Assembly Bill No. of the 2022-23 session), prior to June 30, 2024, 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). (cf: P.L.2023, c.120, s.5) 6. Section 6 of P.L.2023, c.120 is amended to read as follows: 6. The eligibility lists and authorization for the making of loans pursuant to sections 2 and 3 of [this act] P.L.2023, c.120, as amended by P.L. , c. (pending before the Legislature as this bill), shall expire on July 1, 2024, and any project sponsor which has not executed and delivered a loan agreement with the department for a loan authorized in [this act] P.L.2023, c.120, as amended by P.L. , c. (pending before the Legislature as this bill), shall no longer be entitled to that loan. (cf: P.L.2023, c.120, s.6) 7. Section 7 of P.L.2023, c.120 is amended to read as follows: 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] P.L.2023, c.120, as amended by P.L. , c. (pending before the Legislature as this bill), 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] P.L.2023, c.120, as amended by P.L. , c. (pending before the Legislature as this bill), 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. (cf: P.L.2023, c.120, s.7) 8. Section 8 of P.L.2023, c.120 is amended to read as follows: 8. The expenditure of the funds appropriated by [this act] P.L.2023, c.120, as amended by P.L. , c. (pending before the Legislature as this bill), 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. (cf: P.L.2023, c.120, s.8) 9. Section 10 of P.L.2023, c.120 is amended to read as follows: 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.2023, c.119, as amended by P.L. , c. (pending before the Legislature as Senate Bill No. of the 2022-23 session and Assembly Bill No. of the 2022-23 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, or P.L.2023, c.120, as amended by P.L. , 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, or P.L.2023, c.119, as amended by P.L. , c. (pending before the Legislature as Senate Bill No. of the 2022-23 session and Assembly Bill No. of the 2022-23 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. (cf: P.L.2023, c.120, s.10) 10. Section 13 of P.L.2023, c.120 is amended to read as follows: 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.2023, c.120, as amended by P.L. , 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). (cf: P.L.2023, c.120, s.13) 11. This act shall take effect immediately. STATEMENT This bill would amend P.L.2023, c.120 to amend the lists of environmental infrastructure projects for which the Legislature has appropriated funds to the Department of Environmental Protection (DEP) for State fiscal year 2024. In July 2023, P.L.2023, c.120 was enacted into law, which appropriated funds to the DEP for the purpose of financing approximately $1.78 billion in Storm Sandy and other environmental infrastructure projects through the New Jersey Infrastructure Bank (NJIB) in FY 2024. This bill would amend the lists of environmental infrastructure projects for which the DEP is appropriated funds pursuant to P.L.2023, c.120 to include new projects, remove projects, modify the priority of certain projects, and modify the loan amounts for certain projects, as enumerated in subsections a. and b. of section 3 of the bill. As amended by the bill, P.L.2023, c.120 would appropriate to the DEP up to $3.08 billion, and any unexpended balances from previous authorizations, to provide loans to project sponsors for a total of 223 eligible environmental infrastructure projects for FY 2024. This would include 137 projects on the "Storm Sandy and State Fiscal Year 2024 Clean Water Project Eligibility List" and 70 projects on the "Storm Sandy and State Fiscal Year 2024 Drinking Water Project Eligibility List." The bill would also give the DEP the explicit authority to use funds in the "Pinelands Infrastructure Trust Fund" established pursuant to section 14 of the "Pinelands Infrastructure Trust Bond Act of 1985," P.L.1985, c.302, for drinking water projects. The bill would require such drinking water projects to 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.
An Act concerning the financing of environmental infrastructure projects in Fiscal Year 2024 and amending P.L.2023, c.120.
Be It Enacted by the Senate and General Assembly of the State of New Jersey:
1. Section 1 of P.L.2023, c.120 is amended to read as follows:
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 2023 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 2023 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] P.L.2023, c.120, as amended by P.L. , c. (pending before the Legislature as this bill), 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, 2024, 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, 2024, 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, 2024, 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, 2024, 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, 2024, 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, 2024, 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, 2024, 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, 2024, 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, 2024, 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, 2024, 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, 2024, 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, 2024, 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, 2024, 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.2023, c.119, as amended by P.L. , c. (pending before the Legislature as Senate Bill No. of the 2022-23 session and Assembly Bill No. of the 2022-23 session), as may be available on or before June 30, 2024, 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] P.L.2023, c.120, as amended by P.L. , c. (pending before the Legislature as this bill), and for the purpose of implementing and administering the provisions of [this act] P.L.2023, c.120, as amended by P.L. , c. (pending before the Legislature as this bill), 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 2023 appropriations act, P.L.2022, c.49, plus any appropriated funds designated in State fiscal years 2021 and 2022, 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 2024 appropriations act, P.L.2023, c.74, the department is authorized to utilize up to $40 million for principal forgiveness loans to disadvantaged communities for planning and design costs associated with clean water or drinking water environmental infrastructure projects.
(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 2024 appropriations act, P.L.2023, c.74, the department is authorized to utilize up to $40 million for project loans to disadvantaged communities participating in the department's technical assistance program.
(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, 2024.
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] P.L.2023, c.120, as amended by P.L. , c. (pending before the Legislature as this bill), 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] P.L.2023, c.120, as amended by P.L. , c. (pending before the Legislature as this bill), or by the Commissioner of Environmental Protection pursuant to section 7 of [this act] P.L.2023, c.120, as amended by P.L. , c. (pending before the Legislature as this bill).
(1) A maximum of $30 million in principal forgiveness, plus any appropriated but unallocated funds designated in State fiscal year 2023 for combined sewer overflow projects, shall be issued as provided in subsection a. of section 3 of [this act] P.L.2023, c.120, as amended by P.L. , c. (pending before the Legislature as this bill), 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 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 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 for the first $10 million in allowable costs. For project costs greater than $10 million, the loan shall have a blended interest rate of 50 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 2023 for combined sewer overflow projects shall be issued as provided in subsection a. of section 3 of [this act] P.L.2023, c.120, as amended by P.L. , c. (pending before the Legislature as this bill), 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 not exceed $5 million per borrower whenever practicable. For project costs up to and including $5 million, 100 percent of the principal of the loan shall be forgiven. For project costs greater than $5 million and up to and including $10 million, the loan shall have a blended interest rate of 50 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. For project costs greater than $10 million up to and including $20 million, the loan shall have the terms as provided in paragraph (4) of this subsection applicable to clean water projects sponsored by applicants that meet the "Clean Water State Revolving Fund" affordability criteria.
(3) A maximum of $6 million in principal forgiveness loans, plus any appropriated but unallocated funds designated in State fiscal year 2023 for water quality restoration projects, shall be issued as provided in subsection a. of section 3 of [this act] P.L.2023, c.120, as amended by P.L. , c. (pending before the Legislature as this bill), 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 and up to and including $10 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 for the first $10 million in allowable costs. For project costs greater than $10 million, the loan shall have a blended interest rate of 50 percent of the trust's market rate.
(4) A maximum of $36 million in principal forgiveness loans, plus any appropriated but unallocated funds designated in State fiscal year 2023, 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] P.L.2023, c.120, as amended by P.L. , c. (pending before the Legislature as this bill). 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 $2 million, 100 percent of the principal of the loan shall be forgiven. For project costs greater than $2 million and up to and including $4 million, the loan shall have a blended interest rate of 50 percent of the trust's market rate. For project costs greater than $4 million and up to and including $10 million, 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 for the first $10 million in allowable costs. For project costs greater than $10 million, the loan shall have a blended interest rate of 50 percent of the trust's market rate.
(5) A maximum of $18 million in principal forgiveness loans, plus any appropriated but unallocated funds designated in State fiscal year 2023, for water and energy efficiency projects shall be issued as provided in subsection a. of section 3 of [this act] P.L.2023, c.120, as amended by P.L. , c. (pending before the Legislature as this bill), 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 and up to and including $10 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 for the first $10 million in allowable costs. For project costs greater than $10 million, the loan shall have a blended interest rate of 50 percent of the trust's market rate.
(6) A maximum of $9 million in principal forgiveness loans for emerging contaminant projects shall be issued as provided in subsection a. of section 3 of [this act] P.L.2023, c.120, as amended by P.L. , c. (pending before the Legislature as this bill), 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. 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 $2 million, 100 percent of the principal of the loan shall be forgiven. For project costs greater than $2 million and up to and including $4 million, the loan shall have a blended interest rate of 50 percent of the trust's market rate. For project costs greater than $4 million and up to and including $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 for the first $10 million in allowable costs. For project costs greater than $10 million, the loan shall have a blended interest rate of 50 percent of the trust's market rate.
(7) A maximum of $4 million in principal forgiveness loans, plus any appropriated but unallocated funds designated in State fiscal year 2023, 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) Of the sums appropriated to the department by the federal "American Rescue Plan Act," Pub.L. 117-2, a maximum of $148 million in principal forgiveness loans shall be issued as provided in subsection a. of section 3 of [this act] P.L.2023, c.120, as amended by P.L. , c. (pending before the Legislature as this bill), 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) The projects listed in subsection a. of section 2 of [this act] P.L.2023, c.120, as amended by P.L. , c. (pending before the Legislature as this bill), and subsection a. of section 3 of [this act] P.L.2023, c.120, as amended by P.L. , c. (pending before the Legislature as this bill), that were previously identified in P.L.2022, c.99, as amended by P.L.2023, c.6, are granted continued priority status and shall be subject to the provisions of P.L.2022, c.99, as amended by P.L.2023, c.6, provided such projects receive short-term funding prior to June 30, 2023.
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] P.L.2023, c.120, as amended by P.L. , c. (pending before the Legislature as this bill), for drinking water projects, up to the individual amounts indicated and in the priority stated, provided:
(1) up to $4 million of Drinking Water State Revolving Fund loans, plus any appropriated but unallocated funds designated in State fiscal year 2023 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 $500,000 in the aggregate and shall not exceed 50 percent of the total loan amount per project sponsor in an amount not to exceed $1 million per project sponsor;
(2) up to $5 million in principal forgiveness loans shall be available for drinking water systems that serve fewer than 1,000 persons, have been assisted by the Community Engineering Corps, and do not meet credit eligibility requirements of the Water Bank Financing Program credit policy. A loan issued pursuant to this paragraph shall have 100 percent principal forgiveness for a loan amount of up to $1 million per applicant;
(3) a maximum of $13 million of principal forgiveness loans 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;
(4) up to $7 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. 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 $2 million, 100 percent of the principal of the loan shall be forgiven. For project costs greater than $2 million and up to and including $4 million, the loan shall have a blended interest rate of 50 percent of the trust's market rate. For project costs greater than $4 million and up to and including $10 million, the loan shall have a blended interest rate of 25 percent of the trust's market rate;
(5) up to $25 million plus any appropriated but unallocated funds designated in State fiscal year 2023, and up to $10 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, for which 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 $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 and up to and including $20 million, the loan shall have a blended interest rate of 25 percent of the trust's market rate. For project costs greater than $20 million and up to and including $40 million, the loan shall have a blended interest rate of 50 percent of the trust's market rate. For project costs over $40 million, the loan may be financed at 100 percent of the trust's market rate, as capacity allows; 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 2023, 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. The amount of principal forgiveness issued pursuant to this paragraph shall not exceed $20 million per borrower whenever practicable. 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.
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 [this act] P.L.2023, c.120, as amended by P.L. , c. (pending before the Legislature as this bill), or if a project fails to meet the requirements of section 4 or 5 of [this act] P.L.2023, c.120, as amended by P.L. , 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] P.L.2023, c.120, as amended by P.L. , c. (pending before the Legislature as this bill), 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, [and] P.L.2022, c.99, as amended by P.L.2023, c.6, and P.L.2023, c.120, as amended by P.L. , 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, [and] P.L.2022, c.99, as amended by P.L.2023, c.6, and P.L.2023, c.120, as amended by P.L. , 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 2023 and State fiscal year 2024 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] P.L.2023, c.120, as amended by P.L. , c. (pending before the Legislature as this bill), 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] P.L.2023, c.120, as amended by P.L. , c. (pending before the Legislature as this bill), or if a project fails to meet the requirements of section 4, 5, or 7 of [this act] P.L.2023, c.120, as amended by P.L. , c. (pending before the Legislature as this bill), 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] P.L.2023, c.120, as amended by P.L. , c. (pending before the Legislature as this bill):
"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).
(cf: P.L.2023, c.120, s.1)
2. Section 2 of P.L.2023, c.120 is amended to read as follows:
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
[Clinton Town S340924-07R $600,000 $800,000]
Hoboken City S340635-06R $30,000,000 $40,000,000
Jersey City MUA S340928-15R $2,625,000 $3,500,000
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
Passaic Valley SC S340689-40R $1,125,000 $1,500,000
Paterson City S340850-03-1 $1,912,500 $2,550,000
Plumsted Township S340607-03R $7,500,000 $10,000,000
Rutgers University S340500-01R $3,150,000 $4,200,000
Somerville Borough S342013-01-1 $1,387,500 $1,850,000
Total Projects: [11] 10 [$71,700,000] $71,100,000 [$95,600,000] $94,800,000
Project Sponsor
Project Number
Estimated Allowable DEP Loan Amount
Estimated Total Loan Amount
[Clinton Town
S340924-07R
$600,000
$800,000]
Hoboken City
S340635-06R
$30,000,000
$40,000,000
Jersey City MUA
S340928-15R
$2,625,000
$3,500,000
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
Passaic Valley SC
S340689-40R
$1,125,000
$1,500,000
Paterson City
S340850-03-1
$1,912,500
$2,550,000
Plumsted Township
S340607-03R
$7,500,000
$10,000,000
Rutgers University
S340500-01R
$3,150,000
$4,200,000
Somerville Borough
S342013-01-1
$1,387,500
$1,850,000
Total Projects: [11] 10
[$71,700,000] $71,100,000
[$95,600,000] $94,800,000
(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] P.L.2023, c.120, as amended by P.L. , c. (pending before the Legislature as this bill), and the loan amounts certified by the Commissioner of Environmental Protection in State fiscal years 2008, [2017, 2018,] 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] P.L.2023, c.120, as amended by P.L. , c. (pending before the Legislature as this bill).
(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] P.L.2023, c.120, as amended by P.L. , c. (pending before the Legislature as this bill).
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
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] P.L.2023, c.120, as amended by P.L. , c. (pending before the Legislature as this bill), and the loan amounts certified by the Commissioner of Environmental Protection in State fiscal years [2017, 2019 and] 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] P.L.2023, c.120, as amended by P.L. , c. (pending before the Legislature as this bill).
(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] P.L.2023, c.120, as amended by P.L. , c. (pending before the Legislature as this bill).
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 2024 financing program.
(cf: P.L.2023, c.120, s.2)
3. Section 3 of P.L.2023, c.120 is amended to read as follows:
3. a. (1) The following environmental infrastructure projects shall be known and may be cited as the "Storm Sandy and State Fiscal Year 2024 Clean Water Project Eligibility List":
Project Sponsor Project Number Estimated Allowable DEP Loan Amount Estimated Total Loan Amount
Musconetcong SA S340384-09 $4,650,000 $6,200,000
Oakland Borough S340418-06 $5,790,000 $7,720,000
Rahway Valley SA S340547-17 [$4,350,000] $4,500,000 [$5,800,000] $6,000,000
Mendham Borough S340159-04 $2,625,000 $3,500,000
Camden County MUA S340640-29 $9,525,000 $12,700,000
Montgomery Township S340130-03 [$16,500,000] $21,750,000 [$22,000,000] $29,000,000
Newark City S340815-26 $3,300,000 $4,400,000
Camden City S340366-15 $9,997,500 $13,330,000
Camden City S230366-14 $7,027,500 $9,370,000
Camden City S340366-07 $7,500,000 $10,000,000
[Camden City S340366-15 $9,997,500 $13,330,000]
Middlesex County UA S340699-18 $14,250,000 $19,000,000
Middlesex County UA S340699-17 $19,500,000 $26,000,000
Jersey City MUA S340928-40 $6,000,000 $8,000,000
Jersey City MUA S340928-21 $9,750,000 $13,000,000
Jersey City MUA S340928-24 $93,750,000 $125,000,000
Elizabeth City S340942-20 [$7,725,000] $17,250,000 [$10,300,000] $23,000,000
Elizabeth City S345070-01 $3,000,001 $4,000,001
Camden County MUA S340640-33 $21,750,000 $29,000,000
Bayonne City S340399-31 $3,750,000 $5,000,000
Kearny Town S340259-11 $12,750,000 $17,000,000
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
Mount Laurel Township MUA S340943-06 $7,875,000 $10,500,000
North Hudson SA S340952-40 $17,625,000 $23,500,000
North Hudson SA S340952-33 $20,250,000 $27,000,000
North Hudson SA S340952-39 $13,500,000 $18,000,000
[Riverside SA S340490-01 $630,000 $840,000]
Perth Amboy City S340435-19 $300,000 $400,000
Perth Amboy City S345220-01 $2,437,500 $3,250,000
Hackensack City S340923-13 $12,750,000 $17,000,000
Hackensack City S340923-16 $10,500,000 $14,000,000
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 S340689-52 $50,250,000 $67,000,000
Passaic Valley SC S345200-01 $7,500,000 $10,000,000
Passaic Valley SC S340689-49 $222,102,676 $296,136,901
Passaic Valley SC S340689-33 $80,250,000 $107,000,000
Pennsville SA S340870-05 $3,000,000 $4,000,000
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 S340386-21 $5,700,000 $7,600,000
Bergen County UA S340386-23 [$37,500,000] $45,000,000 [$50,000,000] $60,000,000
Bergen County UA S340386-24 $1,462,500 $1,950,000
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 S340689-50 $6,600,000 $8,800,000
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 [$375,000] $562,500 [$500,000] $750,000
Bergen County UA S340386-26 $4,500,000 $6,000,000
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
Wildwood City S340664-06 $12,000,000 $16,000,000
Passaic Valley SC S340689-57 $15,300,000 $20,400,000
New Jersey Water Supply Authority S340421-02 $71,250,000 $95,000,000
Camden County MUA S340640-36 $11,625,000 $15,500,000
Hamilton Township S340898-06 $3,037,500 $4,050,000
Long Branch SA S340336-09 $4,200,000 $5,600,000
Stafford Township S340946-08 $2,625,000 $3,500,000
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
Manasquan River RSA 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
Delanco SA S340956-03 [$1,186,500] $1,725,000 [$1,582,000] $2,300,000
Bergen County UA S340386-25 $3,000,000 $4,000,000
Monmouth County Bayshore Outfall Authority S340325-04 $2,625,000 $3,500,000
Monmouth County Bayshore Outfall Authority S340325-04a $2,625,000 $3,500,000
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
Toms River MUA S340145-08 $1,018,800 $1,358,400
[Two Rivers Water Reclamation Authority S340117-10 $2,475,000 $3,300,000]
Pleasantville City S340752-04 $3,246,413 $4,328,550
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
Parsippany Troy Hills Township S340886-05 $8,888,126 $11,850,835
Mount Laurel Township MUA S340943-07 [$2,400,000] $6,000,000 [$3,200,000] $8,000,000
North Brunswick Township S340888-03 $2,475,000 $3,300,000
North Brunswick Township S340888-04 [$1,912,500] $2,625,000 [$2,550,000] $3,500,000
Winslow Township S340895-10 $1,287,750 $1,717,000
Scotch Plains Township S340512-01 $2,025,000 $2,700,000
Hopewell Township S340282-03 $1,230,000 $1,640,000
Princeton S340656-11 $2,944,259 $3,925,678
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
Middlesex Borough S340698-03 $900,000 $1,200,000
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
[North Haledon Borough S340229-02 $75,000 $100,000]
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
Mount Arlington Borough S340451-05 $412,500 $550,000
Highlands Borough S340901-05 $6,375,000 $8,500,000
Medford Lakes Borough S340319-03 $8,250,000 $11,000,000
Mendham Borough S340159-03 $2,775,000 $3,700,000
Hamburg Borough S340149-03 $75,000 $100,000
Hamburg Borough S340149-04 [$600,000] $750,000 [$800,000] $1,000,000
Long Beach Township S340023-09 $4,923,750 $6,565,000
Borough of Wenonah S340531-01 $997,500 $1,330,000
Clinton Township SA S340873-04 $1,875,000 $2,500,000
Ship Bottom Borough S340311-05 $3,750,000 $5,000,000
Fieldsboro Borough S340522-01 [$1,200,000] $1,275,000 [$1,600,000] $1,700,000
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
Montville Township S340931-04 $2,625,000 $3,500,000
Hackensack City S340923-15 $1,200,000 $1,600,000
Camden County MUA S340640-26 $21,150,000 $28,200,000
Lower Township MUA S340810-05 $22,500,000 $30,000,000
Newtown Town S340449-04 $1,875,000 $2,500,000
Little Egg Harbor Township S340579-04 $1,530,000 $2,040,000
Gloucester Township S340364-11 $712,500 $950,000
Gloucester Township S340364-15 $1,087,500 $1,450,000
Northfield City S340508-02 $112,500 $150,000
Jersey City MUA S340928-32 [$9,225,000] $11,250,000 [$12,300,000] $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
Cumberland County Improvement Authority S342015-04 $4,439,778 $5,919,704
Sussex County MUA S342008-06 $32,250,000 $43,000,000
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 [$2,250,000] $3,000,000 [$3,000,000] $4,000,000
Ship Bottom Borough S340311-04 $2,062,500 $2,750,000
Total Projects: [116] 137 [$913,836,380] $1,563,683,971 [$1,218,448,507] $2,084,911,958
Project Sponsor
Project Number
Estimated Allowable DEP Loan Amount
Estimated Total Loan Amount
Musconetcong SA
S340384-09
$4,650,000
$6,200,000
Oakland Borough
S340418-06
$5,790,000
$7,720,000
Rahway Valley SA
S340547-17
[$4,350,000] $4,500,000
[$5,800,000] $6,000,000
Mendham Borough
S340159-04
$2,625,000
$3,500,000
Camden County MUA
S340640-29
$9,525,000
$12,700,000
Montgomery Township
S340130-03
[$16,500,000] $21,750,000
[$22,000,000] $29,000,000
Newark City
S340815-26
$3,300,000
$4,400,000
Camden City
S340366-15
$9,997,500
$13,330,000
Camden City
S230366-14
$7,027,500
$9,370,000
Camden City
S340366-07
$7,500,000
$10,000,000
[Camden City
S340366-15
$9,997,500
$13,330,000]
Middlesex County UA
S340699-18
$14,250,000
$19,000,000
Middlesex County UA
S340699-17
$19,500,000
$26,000,000
Jersey City MUA
S340928-40
$6,000,000
$8,000,000
Jersey City MUA
S340928-21
$9,750,000
$13,000,000
Jersey City MUA
S340928-24
$93,750,000
$125,000,000
Elizabeth City
S340942-20
[$7,725,000] $17,250,000
[$10,300,000] $23,000,000
Elizabeth City
S345070-01
$3,000,001
$4,000,001
Camden County MUA
S340640-33
$21,750,000
$29,000,000
Bayonne City
S340399-31
$3,750,000
$5,000,000
Kearny Town
S340259-11
$12,750,000
$17,000,000
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
Mount Laurel Township MUA
S340943-06
$7,875,000
$10,500,000
North Hudson SA
S340952-40
$17,625,000
$23,500,000
North Hudson SA
S340952-33
$20,250,000
$27,000,000
North Hudson SA
S340952-39
$13,500,000
$18,000,000
[Riverside SA
S340490-01
$630,000
$840,000]
Perth Amboy City
S340435-19
$300,000
$400,000
Perth Amboy City
S345220-01
$2,437,500
$3,250,000
Hackensack City
S340923-13
$12,750,000
$17,000,000
Hackensack City
S340923-16
$10,500,000
$14,000,000
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
S340689-52
$50,250,000
$67,000,000
Passaic Valley SC
S345200-01
$7,500,000
$10,000,000
Passaic Valley SC
S340689-49
$222,102,676
$296,136,901
Passaic Valley SC
S340689-33
$80,250,000
$107,000,000
Pennsville SA
S340870-05
$3,000,000
$4,000,000
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
S340386-21
$5,700,000
$7,600,000
Bergen County UA
S340386-23
[$37,500,000] $45,000,000
[$50,000,000] $60,000,000
Bergen County UA
S340386-24
$1,462,500
$1,950,000
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
S340689-50
$6,600,000
$8,800,000
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
[$375,000] $562,500
[$500,000] $750,000
Bergen County UA
S340386-26
$4,500,000
$6,000,000
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
Wildwood City
S340664-06
$12,000,000
$16,000,000
Passaic Valley SC
S340689-57
$15,300,000
$20,400,000
New Jersey Water Supply Authority
S340421-02
$71,250,000
$95,000,000
Camden County MUA
S340640-36
$11,625,000
$15,500,000
Hamilton Township
S340898-06
$3,037,500
$4,050,000
Long Branch SA
S340336-09
$4,200,000
$5,600,000
Stafford Township
S340946-08
$2,625,000
$3,500,000
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
Manasquan River RSA
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
Delanco SA
S340956-03
[$1,186,500] $1,725,000
[$1,582,000] $2,300,000
Bergen County UA
S340386-25
$3,000,000
$4,000,000
Monmouth County Bayshore Outfall Authority
S340325-04
$2,625,000
$3,500,000
Monmouth County Bayshore Outfall Authority
S340325-04a
$2,625,000
$3,500,000
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
Toms River MUA
S340145-08
$1,018,800
$1,358,400
[Two Rivers Water Reclamation Authority
S340117-10
$2,475,000
$3,300,000]
Pleasantville City
S340752-04
$3,246,413
$4,328,550
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
Parsippany Troy Hills Township
S340886-05
$8,888,126
$11,850,835
Mount Laurel Township MUA
S340943-07
[$2,400,000] $6,000,000
[$3,200,000] $8,000,000
North Brunswick Township
S340888-03
$2,475,000
$3,300,000
North Brunswick Township
S340888-04
[$1,912,500] $2,625,000
[$2,550,000] $3,500,000
Winslow Township
S340895-10
$1,287,750
$1,717,000
Scotch Plains Township
S340512-01
$2,025,000
$2,700,000
Hopewell Township
S340282-03
$1,230,000
$1,640,000
Princeton
S340656-11
$2,944,259
$3,925,678
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
Middlesex Borough
S340698-03
$900,000
$1,200,000
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
[North Haledon Borough
S340229-02
$75,000
$100,000]
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
Mount Arlington Borough
S340451-05
$412,500
$550,000
Highlands Borough
S340901-05
$6,375,000
$8,500,000
Medford Lakes Borough
S340319-03
$8,250,000
$11,000,000
Mendham Borough
S340159-03
$2,775,000
$3,700,000
Hamburg Borough
S340149-03
$75,000
$100,000
Hamburg Borough
S340149-04
[$600,000] $750,000
[$800,000] $1,000,000
Long Beach Township
S340023-09
$4,923,750
$6,565,000
Borough of Wenonah
S340531-01
$997,500
$1,330,000
Clinton Township SA
S340873-04
$1,875,000
$2,500,000
Ship Bottom Borough
S340311-05
$3,750,000
$5,000,000
Fieldsboro Borough
S340522-01
[$1,200,000] $1,275,000
[$1,600,000] $1,700,000
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
Montville Township
S340931-04
$2,625,000
$3,500,000
Hackensack City
S340923-15
$1,200,000
$1,600,000
Camden County MUA
S340640-26
$21,150,000
$28,200,000
Lower Township MUA
S340810-05
$22,500,000
$30,000,000
Newtown Town
S340449-04
$1,875,000
$2,500,000
Little Egg Harbor Township
S340579-04
$1,530,000
$2,040,000
Gloucester Township
S340364-11
$712,500
$950,000
Gloucester Township
S340364-15
$1,087,500
$1,450,000
Northfield City
S340508-02
$112,500
$150,000
Jersey City MUA
S340928-32
[$9,225,000] $11,250,000
[$12,300,000] $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
Cumberland County Improvement Authority
S342015-04
$4,439,778
$5,919,704
Sussex County MUA
S342008-06
$32,250,000
$43,000,000
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
[$2,250,000] $3,000,000
[$3,000,000] $4,000,000
Ship Bottom Borough
S340311-04
$2,062,500
$2,750,000
Total Projects: [116] 137
[$913,836,380] $1,563,683,971
[$1,218,448,507] $2,084,911,958
(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
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 2024 Drinking Water Project Eligibility List":
Project Sponsor Project Number Estimated Allowable DEP Loan Amount Estimated Total Loan Amount
Trenton City 1111001-011 $15,255,000 $20,340,000
Passaic Valley Water Commission 1605002-002 $54,000,000 $72,000,000
[Orange City 0717001-011 $1,162,500 $1,550,000]
Orange City 0717001-013 [$525,000] $975,000 [$700,000] $1,300,000
Newark City 0714001-022 [$17,250,000] $18,000,000 [$23,000,000] $24,000,000
Bloomfield Township 0702001-003 $823,796 $1,098,395
Red Bank Borough 1340001-004 $6,600,000 $8,800,000
Trenton City 1111001-005 $23,328,750 $31,105,000
Hopatcong Borough 1912001-002 [$1,050,000] $1,500,000 [$1,400,000] $2,000,000
Bloomfield Township 0702001-004 $3,000,000 $4,000,000
Bloomfield Township 0702001-005 $6,000,000 $8,000,000
Jersey City MUA 0906001-035 $116,250,000 $155,000,000
National Park Borough 0812001-005 $1,350,000 $1,800,000
Ridgewood Village 0251001-001 $60,000,000 $80,000,000
Belleville Township 0701001-008 $2,676,564 $3,568,752
Livingston Township 0710001-003 $13,500,000 $18,000,000
Livingston Township 0710001-001 $9,000,000 $12,000,000
Livingston Township 0710001-002 $3,750,000 $5,000,000
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
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 $1,500,000 $2,000,000
Merchantville Pennsauken Water Commission 0424001-004 $6,525,000 $8,700,000
East Greenwich 0803001-004 $4,500,000 $6,000,000
Jersey City MUA 0906001-017 $1,305,180 $1,740,240
NJ American Water Company, Incorporated 2004002-012 [$15,000,000] $71,250,000 [$20,000,000] $95,000,000
Hackettstown MUA 2108001-002 $757,500 $1,010,000
Jersey City MUA 0906001-019 $5,025,000 $6,700,000
Wildwood City 0514001-006 $4,637,403 $6,183,204
Lower Township MUA 0505002-004 $9,000,000 $12,000,000
[Seaside Park Borough 1527001-004 $1,125,000 $1,500,000]
Brick Township MUA 1506001-014 $2,700,000 $3,600,000
Hawthorne Borough 1604001-002 [$3,750,000] $7,500,000 [$5,000,000] $10,000,000
Hightstown Borough 1104001-009 $712,500 $950,000
Jersey City MUA 0906001-025 $26,250,000 $35,000,000
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 $21,210,000 $28,280,000
Old Bridge MUA 1209002-005 [$2,025,000] $2,925,000 [$2,700,000] $3,900,000
Clinton Town 1005001-010 [$1,980,000] $3,000,000 [$2,640,000] $4,000,000
Point Pleasant Beach Borough 1525001-002 $2,625,000 $3,500,000
Jersey City MUA 0906001-020 $4,965,000 $6,620,000
Jersey City MUA 0906001-021 $8,250,000 $11,000,000
Allentown Borough 1302001-004 $1,746,720 $2,328,960
Jersey City MUA 0906001-015 $2,691,950 $3,589,266
Brick Township MUA 1506001-008 $4,912,500 $6,550,000
Stone Harbor Borough 0510001-001 $9,000,000 $12,000,000
Hightstown Borough 1104001-011 $825,000 $1,100,000
Hoboken City 0905001-003 $7,500,000 $10,000,000
Shore Water Company 1505003-001 $750,000 $1,000,000
Ship Bottom Borough 1528001-004 $3,150,000 $4,200,000
Lakehurst Borough 1513001-002 $900,000 $1,200,000
East Windsor MUA 1101002-005 $1,500,000 $2,000,000
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 1314001-008 $750,000 $1,000,000
Robbinsville Township 1112001-001 $1,650,000 $2,200,000
Marlboro Township 1328002-003 $1,285,500 $1,714,000
Clinton Town 1005001-013 $2,250,000 $3,000,000
Washington Township MUA 1438004-001 $3,750,000 $5,000,000
Winslow Township 0436007-010 [$2,868,750] $3,000,000 [$3,825,000] $4,000,000
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
High Bridge Borough 1014001-001 $75,000 $100,000
Total Projects: [48] 70 [$320,030,299] $645,362,339 [$426,707,065] $860,483,118
Project Sponsor
Project Number
Estimated Allowable DEP Loan Amount
Estimated Total Loan Amount
Trenton City
1111001-011
$15,255,000
$20,340,000
Passaic Valley Water Commission
1605002-002
$54,000,000
$72,000,000
[Orange City
0717001-011
$1,162,500
$1,550,000]
Orange City
0717001-013
[$525,000] $975,000
[$700,000] $1,300,000
Newark City
0714001-022
[$17,250,000] $18,000,000
[$23,000,000] $24,000,000
Bloomfield Township
0702001-003
$823,796
$1,098,395
Red Bank Borough
1340001-004
$6,600,000
$8,800,000
Trenton City
1111001-005
$23,328,750
$31,105,000
Hopatcong Borough
1912001-002
[$1,050,000] $1,500,000
[$1,400,000] $2,000,000
Bloomfield Township
0702001-004
$3,000,000
$4,000,000
Bloomfield Township
0702001-005
$6,000,000
$8,000,000
Jersey City MUA
0906001-035
$116,250,000
$155,000,000
National Park Borough
0812001-005
$1,350,000
$1,800,000
Ridgewood Village
0251001-001
$60,000,000
$80,000,000
Belleville Township
0701001-008
$2,676,564
$3,568,752
Livingston Township
0710001-003
$13,500,000
$18,000,000
Livingston Township
0710001-001
$9,000,000
$12,000,000
Livingston Township
0710001-002
$3,750,000
$5,000,000
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
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
$1,500,000
$2,000,000
Merchantville Pennsauken Water Commission
0424001-004
$6,525,000
$8,700,000
East Greenwich
0803001-004
$4,500,000
$6,000,000
Jersey City MUA
0906001-017
$1,305,180
$1,740,240
NJ American Water Company, Incorporated
2004002-012
[$15,000,000] $71,250,000
[$20,000,000] $95,000,000
Hackettstown MUA
2108001-002
$757,500
$1,010,000
Jersey City MUA
0906001-019
$5,025,000
$6,700,000
Wildwood City
0514001-006
$4,637,403
$6,183,204
Lower Township MUA
0505002-004
$9,000,000
$12,000,000
[Seaside Park Borough
1527001-004
$1,125,000
$1,500,000]
Brick Township MUA
1506001-014
$2,700,000
$3,600,000
Hawthorne Borough
1604001-002
[$3,750,000] $7,500,000
[$5,000,000] $10,000,000
Hightstown Borough
1104001-009
$712,500
$950,000
Jersey City MUA
0906001-025
$26,250,000
$35,000,000
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
$21,210,000
$28,280,000
Old Bridge MUA
1209002-005
[$2,025,000] $2,925,000
[$2,700,000] $3,900,000
Clinton Town
1005001-010
[$1,980,000] $3,000,000
[$2,640,000] $4,000,000
Point Pleasant Beach Borough
1525001-002
$2,625,000
$3,500,000
Jersey City MUA
0906001-020
$4,965,000
$6,620,000
Jersey City MUA
0906001-021
$8,250,000
$11,000,000
Allentown Borough
1302001-004
$1,746,720
$2,328,960
Jersey City MUA
0906001-015
$2,691,950
$3,589,266
Brick Township MUA
1506001-008
$4,912,500
$6,550,000
Stone Harbor Borough
0510001-001
$9,000,000
$12,000,000
Hightstown Borough
1104001-011
$825,000
$1,100,000
Hoboken City
0905001-003
$7,500,000
$10,000,000
Shore Water Company
1505003-001
$750,000
$1,000,000
Ship Bottom Borough
1528001-004
$3,150,000
$4,200,000
Lakehurst Borough
1513001-002
$900,000
$1,200,000
East Windsor MUA
1101002-005
$1,500,000
$2,000,000
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
1314001-008
$750,000
$1,000,000
Robbinsville Township
1112001-001
$1,650,000
$2,200,000
Marlboro Township
1328002-003
$1,285,500
$1,714,000
Clinton Town
1005001-013
$2,250,000
$3,000,000
Washington Township MUA
1438004-001
$3,750,000
$5,000,000
Winslow Township
0436007-010
[$2,868,750] $3,000,000
[$3,825,000] $4,000,000
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
High Bridge Borough
1014001-001
$75,000
$100,000
Total Projects: [48] 70
[$320,030,299] $645,362,339
[$426,707,065] $860,483,118
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 2024 financing program.
(cf: P.L.2023, c.120, s.3)
4. Section 4 of P.L.2023, c.120 is amended to read as follows:
4. Any financing loan made by the department pursuant to [this act] P.L.2023, c.120, as amended by P.L. , c. (pending before the Legislature as this bill), 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] P.L.2023, c.120, as amended by P.L. , c. (pending before the Legislature as this bill), 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 2024 financing program;
c. Notwithstanding the provisions of sections 2 and 3 of [this act] P.L.2023, c.120, as amended by P.L. , c. (pending before the Legislature as this bill), 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.2023, c.119, as amended by P.L. , c. (pending before the Legislature as Senate Bill No. of the 2022-23 session and Assembly Bill No. of the 2022-23 session), prior to June 30, [2023] 2024;
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] P.L.2023, c.120, as amended by P.L. , c. (pending before the Legislature as this bill), to loans made by the New Jersey Infrastructure Bank pursuant to P.L.2023, c.119, as amended by P.L. , c. (pending before the Legislature as Senate Bill No. of the 2022-23 session and Assembly Bill No. of the 2022-23 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); and
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 Fund 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.
(cf: P.L.2023, c.120, s.4)
5. Section 5 of P.L.2023, c.120 is amended to read as follows:
5. Any Sandy financing loan made by the department pursuant to [this act] P.L.2023, c.120, as amended by P.L. , c. (pending before the Legislature as this bill), 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] P.L.2023, c.120, as amended by P.L. , c. (pending before the Legislature as this bill), to loans made by the trust pursuant to P.L.2023, c.119, as amended by P.L. , c. (pending before the Legislature as Senate Bill No. of the 2022-23 session and Assembly Bill No. of the 2022-23 session), prior to June 30, 2024, 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).
(cf: P.L.2023, c.120, s.5)
6. Section 6 of P.L.2023, c.120 is amended to read as follows:
6. The eligibility lists and authorization for the making of loans pursuant to sections 2 and 3 of [this act] P.L.2023, c.120, as amended by P.L. , c. (pending before the Legislature as this bill), shall expire on July 1, 2024, and any project sponsor which has not executed and delivered a loan agreement with the department for a loan authorized in [this act] P.L.2023, c.120, as amended by P.L. , c. (pending before the Legislature as this bill), shall no longer be entitled to that loan.
(cf: P.L.2023, c.120, s.6)
7. Section 7 of P.L.2023, c.120 is amended to read as follows:
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] P.L.2023, c.120, as amended by P.L. , c. (pending before the Legislature as this bill), 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] P.L.2023, c.120, as amended by P.L. , c. (pending before the Legislature as this bill), 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.
(cf: P.L.2023, c.120, s.7)
8. Section 8 of P.L.2023, c.120 is amended to read as follows:
8. The expenditure of the funds appropriated by [this act] P.L.2023, c.120, as amended by P.L. , c. (pending before the Legislature as this bill), 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.
(cf: P.L.2023, c.120, s.8)
9. Section 10 of P.L.2023, c.120 is amended to read as follows:
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.2023, c.119, as amended by P.L. , c. (pending before the Legislature as Senate Bill No. of the 2022-23 session and Assembly Bill No. of the 2022-23 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, or P.L.2023, c.120, as amended by P.L. , 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, or P.L.2023, c.119, as amended by P.L. , c. (pending before the Legislature as Senate Bill No. of the 2022-23 session and Assembly Bill No. of the 2022-23 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.
(cf: P.L.2023, c.120, s.10)
10. Section 13 of P.L.2023, c.120 is amended to read as follows:
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.2023, c.120, as amended by P.L. , 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).
(cf: P.L.2023, c.120, s.13)
11. This act shall take effect immediately.
STATEMENT
This bill would amend P.L.2023, c.120 to amend the lists of environmental infrastructure projects for which the Legislature has appropriated funds to the Department of Environmental Protection (DEP) for State fiscal year 2024.
In July 2023, P.L.2023, c.120 was enacted into law, which appropriated funds to the DEP for the purpose of financing approximately $1.78 billion in Storm Sandy and other environmental infrastructure projects through the New Jersey Infrastructure Bank (NJIB) in FY 2024. This bill would amend the lists of environmental infrastructure projects for which the DEP is appropriated funds pursuant to P.L.2023, c.120 to include new projects, remove projects, modify the priority of certain projects, and modify the loan amounts for certain projects, as enumerated in subsections a. and b. of section 3 of the bill. As amended by the bill, P.L.2023, c.120 would appropriate to the DEP up to $3.08 billion, and any unexpended balances from previous authorizations, to provide loans to project sponsors for a total of 223 eligible environmental infrastructure projects for FY 2024. This would include 137 projects on the "Storm Sandy and State Fiscal Year 2024 Clean Water Project Eligibility List" and 70 projects on the "Storm Sandy and State Fiscal Year 2024 Drinking Water Project Eligibility List."
The bill would also give the DEP the explicit authority to use funds in the "Pinelands Infrastructure Trust Fund" established pursuant to section 14 of the "Pinelands Infrastructure Trust Bond Act of 1985," P.L.1985, c.302, for drinking water projects. The bill would require such drinking water projects to 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.