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S 4467

Provides for the enrollment of certain persons in direct deposit for compensation payments

2025 Regular Session Introduced by Shelley Mayer

NJIB can finance up to $2.4B for drinking water and wastewater projects, leveraging state and federal funds to fund and support environmental infrastructure loans and reserves.

RETURNED TO SENATE
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Bill Summary · S 4467

Summary — S.4467 (P.L.2025, c.125)

Authorizes the New Jersey Infrastructure Bank (NJIB) to expend funds and make loans to finance a portion of environmental infrastructure construction costs (FY2026); appropriates and authorizes interfund transfers and related loan program flexibilities.

Purpose / Intent

To provide financing capacity and matching State funds so local governments, public and privately‑owned water utilities (project sponsors) can complete clean water and drinking water infrastructure projects (including projects related to Superstorm Sandy), and to facilitate State matching for federal capitalization grants (Clean Water Act, Safe Drinking Water Act).

Key provisions

  • Authorizes the NJIB to expend up to $2.4 billion (plus any previously uncommitted balances from earlier acts) to make loans to project sponsors for projects listed in the act.
  • Identifies project lists and estimated loan amounts:
    • Two supplemental wastewater projects — $5.2 million total
    • Four supplemental drinking‑water projects — $19 million total
    • Four Pinelands wastewater projects (funded under Pinelands Infrastructure Trust Bond Act) — $15.3 million total
    • “Storm Sandy and SFY2026 Clean Water Project Eligibility List”: 151 projects — ~$1.7 billion
    • “Storm Sandy and SFY2026 Drinking Water Project Eligibility List”: 59 projects — ~$651.7 million
  • Appropriates up to $1.5 billion, as needed, for short‑term/temporary loans to sponsors on an Interim Environmental Financing Program Project Priority List (to be submitted by DEP Commissioner).
  • Appropriates funds as needed to support projects on an Environmental Disaster Relief Emergency Financing Program Project Priority List (also submitted by DEP Commissioner).
  • Authorizes transfers among multiple State trust/fund accounts (Water Supply Trust Fund, Wastewater Treatment Trust Fund, 1992 Wastewater Fund, Stormwater Management/CSO Fund, 2003 Water Resources/Wastewater Fund, and loan repayment accounts) to provide State match for federal capitalization grants and to fund NJEIFP loans; allows NJIB transfers to DEP for jointly administered drinking‑water loans.
  • Permits NJIB to increase the authorized aggregate by amounts such as capitalized interest, reserve requirements, loan origination fees, interest earned on deposits, and amounts needed for zero‑interest/principal‑forgiveness loans in coordination with DEP.
  • Authorizes use of certain revolving fund balances to provide debt service reserves or guarantees so local units can become eligible for NJIB loans for environmental components of redevelopment projects.
  • Establishes loan requirements and allows NJIB to adjust loan amounts and use moneys for its operating expenses (per sections 6–8 of the act).

Who is affected

  • Primary beneficiaries: local government units, public water utilities, and privately‑owned water companies selected as eligible project sponsors on the enumerated project lists.
  • Indirect: ratepayers and communities receiving improved water and wastewater infrastructure; state agencies administering federal grants (DEP, NJIB).

Fiscal and procedural notes

  • Act signed into law as P.L.2025, c.125 (approved August 15, 2025).
  • Legislative actions: introduced May 19, 2025; reported favorably by Senate Budget & Appropriations (June 9); Assembly floor amendments adopted (June 30); passed both houses (June 30, 2025).
  • Fiscal statement: the bill was not certified as requiring a fiscal note; funding uses include leveraging federal grants and existing trust fund balances; contains appropriation and transfer authorizations rather than a single new general‑fund appropriation.

Related/companion legislation

  • Companion: A5621 (substituted), S.4426 (companion for DEP appropriations), related prior/session bills noted in legislative history.

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

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