New Jersey Assembly Bill A5124

New Jersey 2024-2025 Regular Session

• Introduced: 12/9/24
• Refer: 12/9/24
• Refer: 12/12/24
• Report Pass: 12/16/24

Caption

Amends list of hazard mitigation and resilience projects approved for funding by NJ Infrastructure Bank under FY2025 Community Hazard Assistance Mitigation Program.

Impact

Specifically, A5124 will authorize funding for nine eligible projects, facilitating efforts to enhance community resilience against hazards such as flooding. By providing local government units with the necessary financing, the bill aims to empower these entities to undertake critical infrastructure improvements. The inclusion of new projects in municipalities such as Brick Township, Rochelle Park Township, and Highlands Borough is notable, as it reflects targeted investments in areas that may be more vulnerable to environmental impacts.

Summary

Assembly Bill A5124 aims to amend the current funding provisions for the Community Hazard Assistance Mitigation Program (CHAMP) in the state of New Jersey for the fiscal year 2025. The bill proposes an increase in the amount authorized to be expended by the New Jersey Infrastructure Bank (NJIB) from $7,198,045 to $13,813,000. This increase is intended to support additional hazard mitigation and resilience projects, reflecting a growing recognition of the need for robust infrastructure to withstand environmental challenges.

Contention

While the bill enjoys overall support for its objectives, there may be differing opinions on the allocation of these funds and the types of projects prioritized. Stakeholders could express concerns regarding whether the selected projects effectively address the most pressing needs of affected communities or if certain areas are comparably underserved. Moreover, some members of the public may question the long-term sustainability of funding such initiatives, possibly advocating for more stringent oversight to ensure funds are utilized effectively.

Additional_info

The CHAMP program was established to implement the federal 'Safeguarding Tomorrow through Ongoing Risk Mitigation Act' (STORM Act) in New Jersey, indicating a commitment by the state to align local mitigation efforts with broader federal objectives. The procedural framework set by both this bill and prior legislation emphasizes accountability and compliance, ensuring that funded projects meet specific state regulations and standards.