Authorizes NJ Infrastructure Bank to expend certain sums to make loans for transportation infrastructure projects for FY2027; makes appropriation.

2026-2027 Regular Session Introduced by Tony Bucco and 6 co-sponsors

The bill authorizes the New Jersey Infrastructure Bank to expend funds to issue loans for transportation infrastructure projects in FY2027, with an accompanying appropriation.

Substituted by A4961

Summary of Bill: S 4308 (NJ, Session 222)

Purpose and Intent

The bill authorizes the New Jersey Infrastructure Bank (NJIB) to expend certain funds in order to provide loans for transportation infrastructure projects.

The authorization applies specifically to fiscal year 2027 (FY2027).

The measure includes an appropriation to support these loan activities, directing funds toward the Bank’s lending programs for transportation infrastructure.

Key Provisions and Provisions at a Glance

Authorization to Expend Funds: NJIB is empowered to expend designated sums to issue loans for transportation-related infrastructure projects. This expands or clarifies the Bank’s ability to mobilize capital for project financing in the upcoming fiscal year.

Scope of Projects: The loans would target transportation infrastructure, which can include roads, bridges, transit systems, freight corridors, rail, port facilities, and related infrastructure critical to mobility and economic activity in New Jersey.

Appropriation for FY2027: The bill includes an appropriation component, providing the fiscal resources necessary for the NJIB to make these loans. The exact dollar amounts would be specified in the act or accompanying fiscal notes, but the bill’s intent is to fund loan activity for FY2027.

Administrative and Oversight Considerations: As with typical NJIB lending actions, the bill would align with existing Bank governance on credit quality, loan terms, interest rates, and repayment schedules. It may also reference compliance with state procurement, environmental, and covenants applicable to financed projects.

Who Is Affected

New Jersey Infrastructure Bank: Primary entity empowered to issue and manage loans for transportation infrastructure projects; gains explicit authorization to expend funds for FY2027 lending.

Transportation Project Sponsors: State and local agencies, authorities, or private or public entities seeking financing for transportation infrastructure projects may benefit from access to NJIB loans.

Taxpayers and Stakeholders: Indirectly affected through potential project financing, impacting infrastructure development pace, debt management, and long-term transportation planning.

Procedural and Timeline Aspects

Introduction and Referral: As of May 18, 2026, the bill was introduced in the Senate and referred to the Senate Transportation Committee.

Potential Legislative Path: After committee review, the bill would move through floor votes in the Senate, and, if advanced, likely coordination with the Assembly and potential gubernatorial action. Fiscal and fiscal-note analyses would accompany appropriation provisions.

Timeline Implications: The authorization targets FY2027, indicating the intended effective period begins in the state's next fiscal year following enactment, subject to the bill’s final language and any transition provisions.

Notes for Readers

Specific financial figures (e.g., the exact appropriation amount for FY2027) and detailed terms (interest rates, loan terms, eligible project criteria) are not included in the summary provided here and would appear in the bill’s text or fiscal notes. Readers seeking precise dollar amounts or program parameters should consult the enacted statute or the bill’s accompanying fiscal documents once available.