ASSEMBLY ENVIRONMENT, NATURAL RESOURCES, AND
SOLID WASTE COMMITTEE
STATEMENT TO
with committee amendments
ASSEMBLY, No. 5123
STATE OF NEW JERSEY
DATED: DECEMBER 12, 2024
The Assembly Environment, Natural Resources, and Solid Waste
Committee reports favorably, and with committee amendments,
Assembly Bill No. 5123.
As amended by the committee, this bill would make changes to the
authorization that was given to the New Jersey Infrastructure Bank
(NJIB), under P.L.2024, c.41, to make loans for environmental
infrastructure projects for State fiscal year 2025.
P.L.2024, c.41, enacted in July 2024, authorized the NJIB to
expend up to $2.73 billion, as well as any unexpended balances from
previous authorizations, for the purposes of providing low-interest and
market-rate loans to project sponsors (primarily local governments,
public authorities, and public water utilities) for a portion of the total
costs of 240 eligible environmental infrastructure projects for fiscal
year 2025. This bill would amend the lists of environmental
infrastructure projects for which the NJIB is authorized to make loans
pursuant to P.L.2024, c.41, in order to include new projects, remove
certain projects, modify the priority of certain projects, and modify the
trust loan amounts for certain projects, as enumerated in sections 2 and
4 of the bill. As amended by the bill, P.L.2024, c.41 would authorize
the NJIB to expend up to $2.47 billion, as well as any unexpended
balances from previous authorizations, in order to provide loans to
project sponsors for a total of 227 eligible environmental infrastructure
projects for fiscal year 2025. This would include 152 projects on the
"Storm Sandy and State Fiscal Year 2025 Clean Water Project
Eligibility List" and 67 projects on the "Storm Sandy and State Fiscal
Year 2025 Drinking Water Project Eligibility List."
COMMITTEE AMENDMENTS :
The committee amended the bill to make technical changes to
update internal references to P.L.2024, c.35 (another environmental
infrastructure trust appropriations bill previously enacted, in 2024, as a
companion to P.L.2024, c.41), as necessary to appropriately reference
the currently pending Senate and Assembly bills (i.e., S3881 and
A5122) that would amend the list of projects, which are eligible for
FY 2025 funding from the NJ Infrastructure Bank, under the
provisions of that P.L.2024, c.35.