Bill
SCR 131
SCR 131 approves NJIB's FY2026 Financial Plan, enabling loans and loan guarantees to fund DEP-identified clean/drinking water projects; no new funds, just authorized financing.
Status and procedural posture
- Bill type: Senate Concurrent Resolution (SCR 131)
- Subject areas: Banking; Environment (water infrastructure financing)
- Introduced: March 7, 2025
- Key dates: Financial plan required to be submitted on or before May 15, 2025; reported favorably by Senate Budget & Appropriations Committee (statement dated June 9, 2025); passed both houses and filed with Secretary of State on June 30, 2025.
- Fiscal note: Not certified as requiring a fiscal note.
- Related measures: HCR 127, SR110, HCR 208, SR113, ACR 170 (companions).
Purpose and intent
- The resolution approves the New Jersey Infrastructure Bank’s (NJIB) Fiscal Year (FY) 2026 Financial Plan. By statute, the Legislature must approve the Bank’s financial plan by concurrent resolution in order for the NJIB to implement financing for eligible water infrastructure projects in the coming state fiscal year.
Legal basis and scope
- Statutory authorities cited: P.L.1985, c.334 (C.58:11B-1 et seq.) and P.L.1997, c.224 (C.58:11B-20.1 et seq.). Specific references include sections requiring submission of financial plans for:
- Clean water, stormwater management, and nonpoint source pollution projects (C.58:11B-21 and C.58:11B-22),
- Drinking water supply projects (C.58:11B-21.1 and C.58:11B-22.1),
- And the consolidated financial plan that covers both clean and drinking water project lists (C.58:11B-22.2).
- The consolidated FY2026 Financial Plan implements financing for projects placed on project eligibility lists developed by the NJ Department of Environmental Protection (DEP) and approved by the Legislature.
Key provisions / practical effect
- Legislative approval: SCR 131 formally approves the NJIB’s FY2026 Financial Plan as submitted to the Legislature. That approval is the procedural step allowing the Bank to proceed with planned financing activities for the fiscal year.
- Enables NJIB actions: Once the plan is approved, the NJIB may make loans to, and guarantee debt incurred by, eligible program participants (for example, municipalities, public water utilities, and other eligible entities) to finance construction, rehabilitation, or improvement of environmental infrastructure projects (clean water, drinking water, stormwater, nonpoint source pollution).
- No direct appropriation: The resolution itself does not appropriate new State funds; it authorizes implementation of the Bank’s financing program under existing statutory authority and program resources.
Who is affected
- Primary: NJIB, DEP (through project eligibility lists), municipalities, water and wastewater utilities, and other eligible recipients of NJIB loans/guarantees.
- Secondary: Residents and businesses that benefit from financed water infrastructure improvements (public health, water quality, storm resilience).
Takeaway
- SCR 131 is a procedural but necessary legislative action approving the NJIB’s consolidated FY2026 Financial Plan, thereby permitting the Bank to proceed with financing prioritized clean water and drinking water projects identified by DEP for the coming State fiscal year.
Compiled from official sources — confirm details with the bill’s official record.
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