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SCR 135

Approves FY2027 Financial Plan of NJ Infrastructure Bank.

2026-2027 Regular Session Introduced by Clinton Calabrese and 3 co-sponsors

SCR 135 approves NJIB’s FY2027 Financial Plan to finance DEP-approved clean/drinking water projects, enabling coordinated funding for environmental infrastructure.

Filed with Secretary of State
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Bill Summary · SCR 135

Summary of SCR 135 (Session 222) – New Jersey

Purpose and intent

  • SCR 135 is a concurrent resolution that approves the Fiscal Year 2027 Financial Plan of the New Jersey Infrastructure Bank (NJIB).
  • The NJIB is a state financing authority that provides loans and debt guarantees to support environmental infrastructure projects, including clean water, drinking water, stormwater management, and nonpoint source pollution projects.
  • The resolution formally approves the consolidated Financial Plan that implements financing for projects on the DEP-approved project eligibility lists for the upcoming state fiscal year.

Key provisions and changes

  • The resolution recognizes and approves the NJIB’s Fiscal Year 2027 Financial Plan, which must be prepared and submitted to:
    • the Secretary of the Senate, and
    • the Clerk of the General Assembly,
    • by May 15, 2026 (as required by law).
  • It references and consolidates the statutory framework governing NJIB financing activities:
    • Sections 21–22 of P.L.1985, c.334 (C.58:11B-21 to C.58:11B-22): requirements for a financial plan to finance clean water, stormwater management, and nonpoint source pollution projects on the DEP’s eligibility list.
    • Sections 25–27 of P.L.1997, c.224 (C.58:11B-21.1 to C.58:11B-22.2): requirements for a financial plan to finance drinking water projects on the DEP’s eligibility list.
    • Section 27 of P.L.1997, c.224 (C.58:11B-22.2): authority to submit a consolidated financial plan that covers both clean water and drinking water projects on the respective eligibility lists.
  • The plan is designed to implement financing for projects approved for funding during the forthcoming state fiscal year.

Who and what is affected

  • Affected entity: New Jersey Infrastructure Bank (NJIB).
  • Beneficiaries/participants: Eligible program participants and project sponsors seeking financing (loans or debt guarantees) for environmental infrastructure projects.
  • Geographic/state-level impact: State of New Jersey; DEP-determined project eligibility lists drive which projects are financed.

Procedural and timeline aspects

  • Submission deadline: NJIB must submit the consolidated Fiscal Year 2027 Financial Plan to the appropriate legislative officers by May 15, 2026.
  • Legislative action: A concurrent resolution (SCR) requiring approval from both the Senate and the General Assembly to validate the NJIB’s Financial Plan for FY2027.
  • Current status and history:
    • Introduced in the Senate (May 11, 2026) and referred to the Senate Environment and Energy Committee.
    • Reported from the Senate Committee (2nd Reading) on May 18, 2026.
    • Co-sponsored by Nilsa Cruz-Perez.

Potential impact and considerations

  • The resolution formally authorizes and legitimizes the NJIB’s plan for financing environmental infrastructure projects for FY2027, enabling timely implementation of DEP-approved projects.
  • By consolidating clean water and drinking water financing plans, the NJIB can coordinate funding strategies, optimize loan terms, and streamline administration for eligible projects.
  • The resolution signals legislative oversight of the NJIB’s financing activities and adherence to statutory deadlines.

Compiled from official sources — confirm details with the bill’s official record.

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