Approves FY2026 Financial Plan of NJ Infrastructure Bank.

2024-2025 Regular Session Introduced by Tennille McCoy and 2 co-sponsors

Legislature approves NJIB FY2026 Financial Plan, authorizing loans and guarantees for clean/drinking water, stormwater, and nonpoint projects, funded via DEP eligibility lists.

Substituted by SCR131

#banking #environment

Overview

ACR 170, introduced June 19, 2025, is a concurrent resolution in the New Jersey Legislature that approves the Fiscal Year 2026 Financial Plan of the New Jersey Infrastructure Bank (NJIB). The plan governs how the NJIB finances environmental infrastructure projects, including clean water, drinking water, stormwater management, and nonpoint source pollution projects. The resolution reflects the Legislature’s formal approval of the consolidated financial plan, which the NJIB submits to the Senate Secretary and Assembly Clerk each year.

Note: ACR 170 has been substituted by SCR 131, meaning the companion Senate vehicle (SCR131) supersedes the Assembly version for the purposes of approval. The substantive purpose remains the approval of the NJIB’s FY2026 Financial Plan.

Purpose and Intent

To provide explicit legislative approval of the NJIB’s FY2026 Financial Plan, as required by law.

To confirm funding and financing actions planned for environmental infrastructure projects identified on DEP-approved eligibility lists.

To ensure the consolidated plan (covering clean water and drinking water projects) is in place for the forthcoming State Fiscal Year.

Key Provisions and Changes

The NJIB is authorized to make loans and guarantee debt for eligible environmental infrastructure projects, including:

Clean water projects
Drinking water projects
Stormwater management
Nonpoint source pollution control

The NJIB is statutorily required to submit:

A financial plan for clean water projects (sections 21–22, P.L. 1985, c. 334)
A financial plan for drinking water projects (sections 25–26, P.L. 1997, c. 224)
A consolidated financial plan combining the above (section 27, P.L. 1997, c. 224)

The plans are based on project eligibility lists developed by the DEP and approved by the Legislature for funding in the forthcoming State Fiscal Year (SFY).

Who/What is Affected

The New Jersey Infrastructure Bank (NJIB) and its financing activities

The Department of Environmental Protection (DEP), through eligibility lists and project designations

Local governments, utilities, developers, and other project sponsors that rely on NJIB financing

State budgeting and financial planning processes for environmental infrastructure

Procedural and Timeline Details

Required submission: Consolidated and component financial plans must be submitted to the Secretary of the Senate and the Clerk of the General Assembly by May 15, 2025.

Legislative action: The bill was reported favorably by the Assembly Appropriations Committee; introduced and later substituted by SCR131.

Fiscal note: The resolution states no fiscal note is required.

Potential Impact

Provides formal legislative endorsement of NJIB’s financing strategy for SFY 2026, enabling continued and planned borrowing and loan guarantees for essential water infrastructure.

Affects funding eligibility and project prioritization as DEP-approved lists guide annual financing.

Signals bipartisan support for infrastructure financing mechanisms aimed at improving water quality and related infrastructure across New Jersey.

Bill