An Act appropriating moneys to the Department of Environmental Protection for the purpose of making zero interest loans or principal forgiveness loans to project sponsors to finance a portion of the costs of environmental infrastructure projects.
Be It Enacted by the Senate and General Assembly of the State of New Jersey:
1. a. (1) There is appropriated to the department from the “Clean Water State Revolving Fund,” established pursuant to section 1 of P.L.2009, c.77, an amount equal to the federal fiscal year 2026 capitalization grant made available to the State for clean water project loans and technical assistance pursuant to the “Water Quality Act of 1987,” 33 U.S.C. s.1251 et seq., and any amendatory and supplementary acts thereto (hereinafter referred to as the “Federal Clean Water Act”) and such sums as are made available to the department from the “Clean Water State Revolving Fund” from funds made available pursuant to the federal “Infrastructure Investment and Jobs Act,” Pub.L. 117-58, for clean water project loans and technical assistance.
(2) There is appropriated to the department from the “Interim Environmental Financing Program Fund,” established by the New Jersey Infrastructure Bank pursuant to subsection d. of section 9 of P.L.1985, c.334 (C.58:11B-9), such amounts as may be necessary to supplement the sums appropriated from the Clean Water State Revolving Fund for the purposes of clean water project loans and technical assistance and providing the State match as may be required for the award of the capitalization grants made available to the State for clean water projects pursuant to the Federal Clean Water Act.
(3) There is appropriated to the department from the “Disaster Relief Emergency Financing Program Fund,” established by the New Jersey Infrastructure Bank pursuant to section 1 of P.L.2013, c.93 (C.58:11B-9.5), such amounts as may be necessary to supplement the sums appropriated from the Clean Water State Revolving Fund for the purposes of clean water project loans and technical assistance and providing the State match as may be required for the award of the capitalization grants made available to the State for clean water projects pursuant to the Federal Clean Water Act.
(4) There is appropriated to the department from the “Drinking Water State Revolving Fund,” established pursuant to section 1 of P.L.1998, c.84, an amount equal to the federal fiscal year 2026 capitalization grant made available to the State for drinking water projects pursuant to the “Safe Drinking Water Act Amendments of 1996,” Pub.L. 104-182, and any amendatory and supplementary acts thereto (hereinafter referred to as the “Federal Safe Drinking Water Act”), and such sums as are made available to the department from the “Drinking Water State Revolving Fund” from funds made available pursuant to the federal “Infrastructure Investment and Jobs Act,” Pub.L. 117-58, for drinking water project loans and technical assistance.
The department is authorized to transfer from the Clean Water State Revolving Fund to the Drinking Water State Revolving Fund, pursuant to the “Water Infrastructure Funding Transfer Act,” Pub.L.116-63, additional amounts as may be necessary to address a threat to public health and an amount equal to the maximum amount authorized to be transferred is appropriated to the department for those purposes.
The department is authorized to transfer from the Clean Water State Revolving Fund to the Drinking Water State Revolving Fund an amount up to the maximum amount authorized to be transferred pursuant to the Federal Safe Drinking Water Act to meet present and future needs for the financing of eligible drinking water projects and an amount equal to that maximum amount is appropriated to the department for those purposes.
The department is authorized to transfer from the Drinking Water State Revolving Fund to the Clean Water State Revolving Fund an amount up to the maximum amount authorized to be transferred pursuant to the Federal Clean Water Act to meet present and future needs for the financing of eligible clean water projects and an amount equal to that maximum amount is appropriated to the department for those purposes.
Notwithstanding any provision of this act to the contrary, the department is authorized to utilize funds from the Clean Water State Revolving Fund for the purposes of the Drinking Water State Revolving Fund and may charge interest on loans made with such invested funds to the extent permitted by the Federal Clean Water Act and the Federal Safe Drinking Water Act.
(5) There is appropriated to the department the unappropriated balances from the Clean Water State Revolving Fund, including the balances from the Federal Disaster Relief Appropriations Act, and any repayments of loans and interest therefrom, as may be available on or before June 30, 2027, for the purposes of clean water project loans and technical assistance and providing the State match as may be required for the award of the capitalization grants made available to the State for clean water projects pursuant to the Federal Clean Water Act.
(6) There is appropriated to the department the unappropriated balances from the “Wastewater Treatment Fund,” established pursuant to section 15 of the “Wastewater Treatment Bond Act of 1985,” P.L.1985, c.329, and any repayments of loans and interest therefrom, as may be available on or before June 30, 2027, for the purposes of clean water project loans and providing the State match as may be required for the award of the capitalization grants made available to the State for clean water projects pursuant to the Federal Clean Water Act.
(7) There is appropriated to the department the unappropriated balances from the “1992 Wastewater Treatment Fund,” established pursuant to section 27 of the “Green Acres, Clean Water, Farmland and Historic Preservation Bond Act of 1992,” P.L.1992, c.88, and any repayments of loans and interest therefrom, as may be available on or before June 30, 2027, for the purposes of clean water project loans and providing the State match as may be required for the award of the capitalization grants made available to the State for clean water projects pursuant to the Federal Clean Water Act.
(8) There is appropriated to the department the unappropriated balances from the “2003 Water Resources and Wastewater Treatment Fund,” established pursuant to subsection a. of section 19 of the “Dam, Lake, Stream, Flood Control, Water Resources, and Wastewater Treatment Project Bond Act of 2003,” P.L.2003, c.162, and any repayments of loans and interest therefrom, as may be available on or before June 30, 2027, for the purposes of clean water project loans and providing the State match as may be required for the award of the capitalization grants made available to the State for clean water projects pursuant to the Federal Clean Water Act.
(9) There is appropriated to the department the unappropriated balances from the “Pinelands Infrastructure Trust Fund,” established pursuant to section 14 of the “Pinelands Infrastructure Trust Bond Act of 1985,” P.L.1985, c.302, and any repayments of loans and interest therefrom, as may be available on or before June 30, 2027, for the purposes of clean water project loans and drinking water project loans and providing the State match as may be required for the award of the capitalization grants made available to the State for clean water projects pursuant to the Federal Clean Water Act and for drinking water projects pursuant to the Federal Safe Drinking Water Act.
(10) There is appropriated to the department the unappropriated balances from the “Stormwater Management and Combined Sewer Overflow Abatement Fund,” established pursuant to the “Stormwater Management and Combined Sewer Overflow Abatement Bond Act of 1989,” P.L.1989, c.181, and any repayments of loans and interest therefrom, as may be available on or before June 30, 2027, for the purposes of clean water project loans and providing the State match as may be required for the award of the capitalization grants made available to the State for clean water projects pursuant to the Federal Clean Water Act.
(11) There is appropriated to the department the unappropriated balances from the Drinking Water State Revolving Fund and any repayments of loans and interest therefrom, including the balances from the Federal Disaster Relief Appropriations Act as may be available on or before June 30, 2027, for the purposes of drinking water project loans.
(12) There is appropriated to the department such sums as may be needed from loan repayments and interest earnings from the “Water Supply Fund,” established pursuant to section 14 of the “Water Supply Bond Act of 1981,” P.L.1981, c.261, for the “Drinking Water State Revolving Fund Match Accounts” contained within that fund, for the purpose of providing the State match as may be required for the award of the capitalization grants made available to the State for drinking water projects pursuant to the Federal Safe Drinking Water Act.
(13) There is appropriated to the department from the “Interim Environmental Financing Program Fund,” established by the New Jersey Infrastructure Bank pursuant to subsection d. of section 9 of P.L.1985, c.334 (C.58:11B-9), such amounts as may be available on or before June 30, 2027, and any repayments of loans and interest therefrom, as may be necessary to supplement the sums appropriated from the Drinking Water State Revolving Fund for the purposes of drinking water project loans and technical assistance and providing the State match as may be required for the award of the capitalization grants made available to the State for drinking water projects pursuant to the Federal Safe Drinking Water Act.
(14) There is appropriated to the department from the “Disaster Relief Emergency Financing Program Fund,” established by the New Jersey Infrastructure Bank pursuant to section 1 of P.L.2013, c.93 (C.58:11B-9.5), such amounts as may be necessary to supplement the sums appropriated from the Drinking Water State Revolving Fund for the purposes of drinking water project loans and providing the State match as may be required for the award of the capitalization grants made available to the State for drinking water projects pursuant to the Federal Safe Drinking Water Act.
(15) There is appropriated to the department such amounts as may be received by the Department of Community Affairs, as the grantee from the United States Department of Housing and Urban Development Community Development Block Grant – Disaster Recovery Program (CDBG-DR), as may be available on or before June 30, 2027, for the purposes of CDBG-DR-eligible clean water and drinking water project loans and providing the State match as may be required for the award of the capitalization grants made available to the State for clean water projects pursuant to the Federal Clean Water Act and drinking water projects pursuant to the Federal Safe Drinking Water Act.
(16) There is appropriated to the department such sums as may be available on or before June 30, 2027, as repayments of drinking water project loans and any interest therefrom, from the “Water Supply Fund,” established pursuant to section 14 of the “Water Supply Bond Act of 1981,” P.L.1981, c.261, for the purposes of drinking water project loans and providing the State match as may be required for the award of the capitalization grants made available to the State for drinking water projects pursuant to the Federal Safe Drinking Water Act.
(17) Of the sums appropriated to the department from the “Water Supply Fund” pursuant to P.L.1999, c.174, P.L.2001, c.222, P.L.2002, c.70, and P.L.2003, c.158, the department is authorized to transfer any unexpended balances and any repayments of loans and interest therefrom as may be available on or before June 30, 2027, in such amounts as needed to the Drinking Water State Revolving Fund accounts contained within the Water Supply Fund established for the purposes of providing drinking water project loans and providing the State match as may be required for the award of the capitalization grants made available to the State for drinking water projects pursuant to the Federal Safe Drinking Water Act.
(18) Of the sums appropriated to the department from the “1992 Wastewater Treatment Fund” pursuant to P.L.1996, c.85, P.L.1997, c.221, P.L.1998, c.84, P.L.1999, c.174, P.L.2000, c.92, P.L.2001, c.222, and P.L.2002, c.70, the department is authorized to transfer any unexpended balances and any repayments of loans and interest therefrom as may be available on or before June 30, 2027, in such amounts as needed, to the Clean Water State Revolving Fund accounts contained within the 1992 Wastewater Treatment Fund for the purposes of providing clean water project loans and providing the State match as may be required for the award of the capitalization grants made available to the State for clean water projects pursuant to the Federal Clean Water Act.
(19) Of the sums appropriated to the department from the “2003 Water Resources and Wastewater Treatment Fund” pursuant to P.L.2004, c.109 and P.L.2007, c.139, the department is authorized to transfer any unexpended balances, and any repayments of loans and interest therefrom, as may be available on or before June 30, 2027, in such amounts as needed, to the Clean Water State Revolving Fund accounts contained within the 2003 Water Resources and Wastewater Treatment Fund for the purposes of providing clean water project loans and providing the State match as may be required for the award of the capitalization grants made available to the State for clean water projects pursuant to the Federal Clean Water Act.
(20) There is appropriated to the department the sums deposited by the New Jersey Infrastructure Bank into the Clean Water State Revolving Fund, the “Wastewater Treatment Fund,” the “1992 Wastewater Treatment Fund,” the “Water Supply Fund,” the “Stormwater Management and Combined Sewer Overflow Abatement Fund,” established pursuant to the “Stormwater Management and Combined Sewer Overflow Abatement Bond Act of 1989,” P.L.1989, c.181, the “2003 Water Resources and Wastewater Treatment Fund,” and the Drinking Water State Revolving Fund, as appropriate, pursuant to paragraph (6) of subsection c. of section 1 of P.L.2026, c.36, as may be available on or before June 30, 2027, for the purposes of providing clean water project loans and drinking water project loans and providing the State match as may be required for the award of the capitalization grants made available to the State for clean water projects pursuant to the Federal Clean Water Act and for drinking water projects pursuant to the Federal Safe Drinking Water Act.
Any such amounts shall be for the purpose of making zero-interest and principal-forgiveness financing loans, to the extent sufficient funds are available, to or on behalf of local government units or public water utilities (hereinafter referred to as “project sponsors”) to finance a portion of the cost of the construction of clean water projects and drinking water projects listed in sections 2 and 3 of this act, and for the purpose of implementing and administering the provisions of this act, to the extent permitted by the Federal Disaster Relief Appropriations Act, the Federal Clean Water Act, the Federal Safe Drinking Water Act, P.L.2009, c.77, the “Wastewater Treatment Bond Act of 1985,” P.L.1985, c.329, the “Water Supply Bond Act of 1981,” P.L.1981, c.261, the “Stormwater Management and Combined Sewer Overflow Abatement Bond Act of 1989,” P.L.1989, c.181, the “Green Acres, Clean Water, Farmland and Historic Preservation Bond Act of 1992,” P.L.1992, c.88, the “Dam, Lake, Stream, Flood Control, Water Resources, and the Wastewater Treatment Project Bond Act of 2003,” P.L.2003, c.162, and any amendatory and supplementary acts thereto.
(21) Of the $48 million appropriated to the department for the capital construction of drinking water and clean water infrastructure by the State fiscal year 2026 appropriations act, P.L.2025, c.74, plus any appropriated funds designated in State fiscal years 2021, 2022, 2023, 2024, and 2025, up to $25 million may be transferred to the New Jersey Infrastructure Bank to invest, provide debt service reserve or guarantee, or pay interest on behalf of a sponsor of a drinking water environmental infrastructure project.
(22) Of the funds appropriated or reappropriated to the department for the capital construction of drinking water and clean water infrastructure by the State fiscal year 2027 appropriations act, P.L.2026, c.27, the department is authorized to transfer up to $5 million to the trust for technical assistance to disadvantaged communities.
(23) Of the funds appropriated or reappropriated to the department for the capital construction of drinking water and clean water infrastructure by the State fiscal year 2027 appropriations act, P.L.2026, c.27, plus any appropriated funds designated in State fiscal years 2021, 2022, 2023, 2024, and 2025, the department is authorized to utilize up to $60 million for principal forgiveness of up to $2 million per applicant to disadvantaged communities participating in the department’s technical assistance program for construction costs associated with clean water or drinking water environmental infrastructure projects.
(24) There is appropriated to the department for the purposes of eligible clean water project grants such amounts as may be received by the department under the Sewer Overflow and Stormwater Reuse Grants Program, as the grantee from the United States Environmental Protection Agency and as may be available on or before June 30, 2027.
(25) Of the funds appropriated or reappropriated to the department for the capital construction of drinking water and clean water infrastructure by the State fiscal year 2027 appropriations act, P.L.2026, c.27, plus any appropriated funds designated in State fiscal years 2021, 2022, 2023, 2024, and 2025, the department is authorized to utilize up to $60 million to provide grants of up to $2 million per applicant to disadvantaged communities participating in the Water Bank’s technical assistance program for planning and design costs associated with clean water or drinking water environmental infrastructure projects.
b. The department is authorized to make zero-interest and principal-forgiveness financing loans to or on behalf of the project sponsors for the environmental infrastructure projects listed in subsection a. of section 2 and subsection a. of section 3 of this act for clean water projects, up to the individual amounts indicated and in the priority stated, to the extent there are sufficient eligible project applications, except that any such amounts may be reduced if a project fails to meet the requirements of sections 4 or 5 of this act, or by the Commissioner of Environmental Protection pursuant to section 7 of this act.
(1) A maximum of $30 million in principal forgiveness, plus any appropriated but unallocated funds designated in State fiscal year 2026 for combined sewer overflow projects, shall be issued as provided in subsection a. of section 3 of this act to communities in combined sewer overflow sewersheds for construction projects that reduce or eliminate discharges from combined sewer overflow outfalls. The amount of principal forgiveness issued pursuant to this paragraph shall not exceed $5 million per borrower whenever practicable. For project costs greater than $5 million, up to and including $10 million, 50 percent of the principal of the loan shall be forgiven, and the remaining 50 percent of the loan shall have a blended interest rate of 50 percent of the trust’s market rate. For project costs greater than $10 million, the loan shall have a blended interest rate of 25 percent of the trust’s market rate. For combined sewer overflow projects that receive no principal forgiveness because principal-forgiveness funds allocated to such projects are no longer available, the loan shall have a blended interest rate of 25 percent of the trust’s market rate.
(2) A maximum of $30 million in principal forgiveness, plus any appropriated but unallocated funds designated in State fiscal year 2026 for combined sewer overflow projects, shall be issued as provided in subsection a. of section 3 of this act to communities in combined sewer overflow sewersheds for construction projects that reduce or eliminate discharges from combined sewer overflow outfalls that meet “Clean Water State Revolving Fund” affordability criteria. The amount of principal forgiveness issued pursuant to this paragraph shall be based on the applicable tier of the department’s affordability score. For a borrower satisfying Tier 1 of the department’s affordability score and project costs up to and including $8 million, 100 percent of the principal of the loan shall be forgiven. For a borrower satisfying Tier 2 of the department’s affordability score and project costs up to and including $7 million, 100 percent of the principal of the loan shall be forgiven. For project costs greater than $8 million in the case of a Tier 1 borrower, and greater than $7 million in the case of a Tier 2 borrower, the loan shall have a blended interest rate of 25 percent of the trust’s market rate. For combined sewer overflow projects that reduce or eliminate discharges from combined sewer overflow outfalls that meet “Clean Water State Revolving Fund” affordability criteria that receive no principal forgiveness because principal-forgiveness funds allocated to such projects are no longer available, the loan shall have a blended interest rate of 25 percent of the trust’s market rate.
(3) A maximum of $18 million in principal forgiveness, plus any appropriated but unallocated funds designated in State fiscal year 2026 for water quality restoration projects, shall be issued as provided in subsection a. of section 3 of this act for water quality restoration projects. The amount of a principal-forgiveness loan issued pursuant to this paragraph shall not exceed $2 million per borrower whenever practicable. For project costs up to and including $4 million, 50 percent of the principal of the loan shall be forgiven and the remaining 50 percent of the loan shall have a blended interest rate of 50 percent of the trust’s market rate. For project costs greater than $4 million, the loan shall have a blended interest rate of 25 percent of the trust’s market rate. For water quality restoration projects that receive no principal forgiveness because principal-forgiveness funds allocated to such projects are no longer available, the loan shall have a blended interest rate of 25 percent of the trust’s market rate.
(4) A maximum of $30 million in principal forgiveness, plus any appropriated but unallocated funds designated in State fiscal year 2026, for clean water projects sponsored by applicants that meet the “Clean Water State Revolving Fund” affordability criteria as set forth by the department shall be issued as provided in subsection a. of section 3 of this act. The amount of a principal-forgiveness loan issued pursuant to this paragraph shall be based on the applicable tier of the department’s affordability score. For a borrower satisfying Tier 1 of the department’s affordability score and project costs up to and including $3 million, 100 percent of the principal of the loan shall be forgiven. For a borrower satisfying Tier 2 of the department’s affordability score and project costs up to and including $2 million, 100 percent of the principal of the loan shall be forgiven. For project costs greater than $3 million in the case of a Tier 1 borrower or greater than $2 million in the case of a Tier 2 borrower, the loan shall have a blended interest rate of 25 percent of the trust’s market rate. For clean water projects sponsored by applicants that meet the “Clean Water State Revolving Fund” affordability criteria that receive no principal forgiveness because principal-forgiveness funds allocated to such projects are no longer available, the loan shall have a blended interest rate of 25 percent of the trust’s market rate.
(5) A maximum of $12 million in principal forgiveness, plus any appropriated but unallocated funds designated in State fiscal year 2026, for water and energy efficiency projects shall be issued as provided in subsection a. of section 3 of this act to projects that address water and energy efficiency goals that meet the eligibility requirements for water and energy efficiency as defined in the United States Environmental Protection Agency’s “Green Project Reserve Guidance.” The amount of a principal-forgiveness loan issued pursuant to this paragraph shall not exceed $2 million per borrower whenever practicable. For project costs up to and including $4 million, 50 percent of the principal of the loan shall be forgiven, and the remaining 50 percent of the loan shall have a blended interest rate of 50 percent of the trust’s market rate. For project costs greater than $4 million, the loan shall have a blended interest rate of 25 percent of the trust’s market rate. For water and energy efficiency projects that receive no principal forgiveness because principal-forgiveness funds allocated to such projects are no longer available, the loan shall have a blended interest rate of 25 percent of the trust’s market rate.
(6) A maximum of $34 million in principal forgiveness for emerging contaminant projects shall be issued as provided in subsection a. of section 3 of this act to projects that primarily address substances and microorganisms, which are known or anticipated in the environment and which may pose newly identified or re-emerging risks to human health, aquatic life, or the environment. For project costs up to and including $10 million, 100 percent of the principal of the loan shall be forgiven, whenever practicable. For project costs greater than $10 million, the loan shall have a blended interest rate of 25 percent of the trust’s market rate. For emerging contaminant projects that receive no principal forgiveness because principal-forgiveness funds allocated to such projects are no longer available, the loan shall have a blended interest rate of 25 percent of the trust’s market rate.
(7) A maximum of $4 million in principal forgiveness, plus any appropriated but unallocated funds designated in State fiscal year 2026, for combined sewer overflow or stormwater management projects shall be issued to finance up to 20 percent of project costs for projects that qualify for a Sewer Overflow and Stormwater Reuse grant. 100 percent of the principal of the loan shall be forgiven, and the remaining project costs shall be financed through a Sewer Overflow and Stormwater Reuse grant from the department.
(8) A maximum of $20 million in principal forgiveness shall be issued as provided in subsection a. of section 3 of this act to improve stormwater resilience. The amount of a principal-forgiveness loan issued pursuant to this paragraph shall not exceed $5 million per borrower whenever practicable. For project costs up to and including $10 million, 50 percent of the principal of the loan shall be forgiven, and the remaining 50 percent of the loan shall have a blended interest rate of 50 percent of the trust’s market rate. For project costs greater than $10 million, the loan shall have a blended interest rate of 25 percent of the trust’s market rate. For stormwater resilience projects that receive no principal forgiveness because principal-forgiveness funds allocated to such projects are no longer available, the loan shall have a blended interest rate of 25 percent of the trust’s market rate.
c. The department is authorized to make zero-interest and principal-forgiveness financing loans to or on behalf of the project sponsors for the environmental infrastructure projects listed in subsection b. of section 3 of this act for drinking water projects, up to the individual amounts indicated and in the priority stated, provided:
(1) up to $5 million of Drinking Water State Revolving Fund loans, plus any appropriated but unallocated funds designated in State fiscal year 2026 for drinking water systems serving populations of up to 10,000 residents, shall be available for drinking water systems serving populations of up to 10,000 residents wherein principal forgiveness shall not exceed $1 million in the aggregate and shall not exceed 50 percent of the total loan amount per project sponsor in an amount not to exceed $2 million per project sponsor. Project costs greater than $2 million shall have a loan funded at a blended interest rate of 25 percent of the trust’s market rate;
(2) a maximum of $5 million in principal forgiveness shall be available for drinking water systems that serve fewer than 1,000 persons. A loan issued pursuant to this paragraph shall have 100 percent principal forgiveness for drinking water systems that are participating in the Community Engineering Corp or the Engineering Contract with the New Jersey Water Association. A loan issued pursuant to this paragraph for drinking water systems that serve fewer than 1,000 persons that are not participating in the Community Engineering Corp or the Engineering Contract with the New Jersey Water Association shall have 100 percent principal forgiveness of up to $2 million per applicant. For project costs greater than $2 million, the loan shall have a blended interest rate of 25 percent of the trust’s market rate;
(3) a maximum of $22 million of principal forgiveness shall be available for drinking water projects that primarily address emerging contaminants, for which principal forgiveness may be authorized for up to 100 percent of the total fund loan amount of up to $3 million per applicant. For project costs greater than $3 million, the loan shall have a blended interest rate of 25 percent of the trust’s market rate. For emerging contaminant projects that receive no principal forgiveness because principal-forgiveness funds allocated to such projects are no longer available, the loan shall have a blended interest rate of 25 percent of the trust’s market rate;
(4) up to $10 million of the sums appropriated to the department from the federal “Infrastructure Investment and Jobs Act,” Pub. L. 117-58, may be issued for principal forgiveness for drinking water projects other than those to address emerging contaminants or lead that meet the affordability criteria of the department. A maximum of $10 million of principal forgiveness pursuant to this paragraph shall be available for up to 100 percent of the total fund loan amount up to and including $10 million for a borrower satisfying the department’s affordability criteria whose project is identified as among the department’s highest-ranked drinking water projects. A maximum of $19 million of principal forgiveness shall be available for up to 100 percent of the total fund loan amount up to and including $3 million for borrowers satisfying the department’s Tier 1 affordability score and up to and including $2 million for borrowers satisfying the department’s Tier 2 affordability score. For projects that would otherwise qualify under this subsection for principal forgiveness that receive no principal forgiveness because principal-forgiveness funds allocated to such projects are no longer available, the loan shall have a blended interest rate of 25 percent of the trust’s market rate;
(5) up to $146 million plus any appropriated but unallocated funds designated in State fiscal year 2026 may be issued for principal-forgiveness loans for drinking water systems that meet the department’s affordability criteria pursuant to the State’s lead service line replacement program to finance lead service line replacements. The amount of a principal-forgiveness loan issued pursuant to this paragraph shall be based on the applicable tier of the department’s affordability score. For a borrower satisfying Tier 1 of the department’s affordability score, the amount of principal forgiveness shall not exceed 80 percent of the total loan amount of up to $16 million per water system. For project costs up to and including $20 million, 80 percent of the principal of the loan shall be forgiven and the remaining 20 percent of the loan shall have a blended interest rate of 50 percent of the trust’s market rate. For project costs greater than $20 million, the loan shall have a blended interest rate of 25 percent of the trust’s market rate. For a borrower satisfying Tier 2 of the department’s affordability score, the amount of principal forgiveness shall not exceed 50 percent of the total loan amount of up to $10 million per water system. For project costs up to and including $20 million, 50 percent of the principal of the loan shall be forgiven and the remaining 50 percent of the loan shall have a blended interest rate of 50 percent of the trust’s market rate. For project costs greater than $20 million, the loan shall have a blended interest rate of 25 percent of the trust’s market rate. For lead service line replacement projects that receive no principal forgiveness because principal-forgiveness funds allocated to such projects are no longer available, the loan shall have a blended interest rate of 20 percent of the trust’s market rate; and
(6) a maximum of $4.5 million in principal forgiveness shall be available for capital improvement projects aimed at strengthening the resilience of water supply infrastructure. The amount of principal forgiveness issued pursuant to this paragraph shall not exceed $2 million per borrower whenever practicable. For project costs up to and including $4 million, 50 percent of the principal of the loan shall be forgiven, and the remaining 50 percent of the loan shall have a blended interest rate of 50 percent of the trust’s market rate. For project costs greater than $4 million, the loan shall have a blended interest rate of 25 percent of the trust’s market rate.
Loans may be made pursuant to this subsection to the extent there are sufficient eligible project applications and as may be required for the award of the capitalization grants made available to the State for drinking water projects pursuant to the Federal Safe Drinking Water Act. Any such amounts may be reduced by the Commissioner of Environmental Protection pursuant to section 7 of this act, or if a project fails to meet the requirements of section 4 or 5 of this act.
The department is authorized to increase the maximum amounts available for principal forgiveness pursuant to this subsection or subsection b. of this section, to the extent additional funds are available.
d. The department is authorized to make zero-interest and principal-forgiveness financing loans to or on behalf of the project sponsors for the environmental infrastructure projects listed in sections 2 and 3 of this act under the same terms, conditions, and requirements set forth in this section from any unexpended balances of the amounts appropriated pursuant to section 1 of P.L.1987, c.200, section 2 of P.L.1988, c.133, section 1 of P.L.1989, c.189, section 1 of P.L.1990, c.99, section 1 of P.L.1991, c.325, section 1 of P.L.1992, c.38, section 1 of P.L.1993, c.193, section 1 of P.L.1994, c.106, section 1 of P.L.1995, c.219, section 1 of P.L.1996, c.85, section 1 of P.L.1997, c.221, section 2 of P.L.1998, c.84, section 2 of P.L.1999, c.174, section 2 of P.L.2000, c.92, sections 1 and 2 of P.L.2001, c.222, sections 1 and 2 of P.L.2002, c.70, sections 1 and 2 of P.L.2003, c.158, sections 1 and 2 of P.L.2004, c.109, sections 1 and 2 of P.L.2005, c.196, sections 1 and 2 of P.L.2006, c.68, sections 1 and 2 of P.L.2007, c.139, sections 1 and 2 of P.L.2008, c.68, sections 1 and 2 of P.L.2009, c.102, sections 1 and 2 of P.L.2010, c.63, sections 1 and 2 of P.L.2011, c.93, sections 1 and 2 of P.L.2012, c.43, sections 1 and 2 of P.L.2013, c.95, sections 1 and 2 of P.L.2014, c.25, sections 1 and 2 of P.L.2015, c.108, sections 1 and 2 of P.L.2016, c.32, as amended by P.L.2017, c.14, sections 1 and 2 of P.L.2017, c.143, as amended by P.L.2017, c.326, sections 1 and 2 of P.L.2018, c.85, as amended by P.L.2018, c.137 and P.L.2019, c.12, sections 1 and 2 of P.L.2019, c.193, as amended by P.L.2019, c.514, P.L.2020, c.49, as amended by P.L.2021, c.21, P.L.2021, c.203, as amended by P.L.2021, c.328, P.L.2022, c.99, as amended by P.L.2023, c.6, P.L.2023, c.120, as amended by P.L.2023, c.344, P.L.2024, c.35, as amended by P.L.2025, c.10, P.L.2025, c.109, as amended by P.L.2025, c.182, and this act, including amounts resulting from the low bid and final building cost reductions authorized pursuant to section 6 of P.L.1987, c.200, section 7 of P.L.1988, c.133, section 6 of P.L.1989, c.189, section 6 of P.L.1990, c.99, section 6 of P.L.1991, c.325, section 6 of P.L.1992, c.38, section 6 of P.L.1993, c.193, section 6 of P.L.1994, c.106, section 6 of P.L.1995, c.219, section 6 of P.L. 1996, c.85, section 6 of P.L.1997, c.221, section 7 of P.L.1998, c.84, section 6 of P.L.1999, c.174, section 6 of P.L.2000, c.92, section 6 of P.L.2001, c.222, section 6 of P.L.2002, c.70, section 6 of P.L.2003, c.158, section 6 of P.L.2004, c.109, section 6 of P.L.2005, c.196, section 6 of P.L.2006, c.68, section 6 of P.L.2007, c.139, section 6 of P.L.2008, c.68, section 7 of P.L.2009, c.102, section 6 of P.L.2010, c.63, section 6 of P.L.2011, c.93, section 6 of P.L.2012, c.43, section 6 of P.L.2013, c.95, section 7 of P.L.2014, c.25, section 7 of P.L.2015, c.108, section 7 of P.L.2016, c.32, as amended by P.L.2017, c.14, section 7 of P.L.2017, c.143 as amended by P.L.2017, c.326, section 7 of P.L.2018, c.85, as amended by P.L.2018, c.137 and P.L.2019, c.12, section 7 of P.L.2019, c.193, as amended by P.L.2019, c.514, section 7 of P.L.2020, c.49, as amended by P.L.2021, c.21, P.L.2021, c.203, as amended by P.L.2021, c.328, P.L.2022, c.99, as amended by P.L.2023, c.6, P.L.2023, c.120, as amended by P.L.2023, c.344, P.L.2024, c.35, as amended by P.L.2025, c.10, P.L.2025, c.109, as amended by P.L.2025, c.182, and this act, and from any repayments of loans and interest from the Clean Water State Revolving Fund, the “Wastewater Treatment Fund,” the “Water Supply Fund,” the “1992 Wastewater Treatment Fund,” the “2003 Water Resources and Wastewater Treatment Fund,” and amounts deposited therein during State fiscal year 2024 and State fiscal year 2025 pursuant to the provisions of section 16 of P.L.1985, c.329, and section 2 of P.L.2009, c.77 and any amendatory and supplementary acts thereto, including any Clean Water State Revolving Fund Accounts contained within the “Wastewater Treatment Fund,” and from any repayment of loans and interest from the Drinking Water State Revolving Fund.
e. The department is authorized to make zero-interest and principal-forgiveness Sandy financing loans to or on behalf of the project sponsors for the Sandy environmental infrastructure projects listed in subsection a. of section 3 of this act for clean water projects, in a manner consistent with the Federal Disaster Relief Appropriations Act, up to the individual amounts indicated, except that any such amount may be reduced by the Commissioner of Environmental Protection pursuant to section 7 of this act, or if a project fails to meet the requirements of section 4, 5, or 7 of this act, provided a maximum of $300 million shall be provided for Sandy financing loans for clean water projects to provide financial assistance to communities affected by the Storm Sandy and for projects whose purpose is to reduce flood damage risk and vulnerability or to enhance resiliency to rapid hydrologic change or a natural disaster.
f. The department is authorized to increase the aggregate sums specified in subsections b. and c. of this section by the amount of interest accrued pursuant to a short-term or temporary loan made to a project sponsor pursuant to the Interim Environmental Financing Program.
g. For the purposes of this act:
“Department” means the Department of Environmental Protection.
“Federal Disaster Relief Appropriations Act” means the “Disaster Relief Appropriations Act, 2013,” Pub.L.113-2, and any amendatory and supplementary acts thereto.
“JMEUC” means the Joint Meeting of Essex and Union Counties.
“Sandy financing” means grants, zero-interest loans or principal-forgiveness loans provided by the Department of Environmental Protection from funds made available to the State for clean water or drinking water projects, or clean water or drinking water project match, pursuant to the Federal Disaster Relief Appropriations Act.
“Technical assistance” means all services and assistance provided for the benefit of eligible project sponsors, including, but not limited to, public engagement services, technical assistance and expertise, and community education, for the purposes of identifying and pursuing a clean water or drinking water project, as described in the financial plan developed pursuant to section 21 of P.L.1985, c.334 (C.58:11B-21) or section 25 of P.L.1997, c.224 (C.58:11B-21.1).
“Trust” means the New Jersey Infrastructure Bank, created pursuant to section 4 of P.L.1985, c.334 (C.58:11B-4).
2. a. (1) The department is authorized to expend funds for the purpose of making supplemental zero-interest loans to or on behalf of the project sponsors listed below for the following clean water environmental infrastructure projects:
Project Sponsor Project Number Estimated Allowable Estimated Total
DEP Loan Amount Loan Amount
Camden County Municipal S340640-32R $15,000,000 $20,000,000
Utilities Authority
Camden County Municipal S340640-33R $9,075,000 $12,100,000
Utilities Authority
Elizabeth City S340942-20R $4,350,000 $5,800,000
Hoboken City S340635-08R $7,875,000 $10,500,000
Jersey City Municipal S340928-37R $32,775,000 $43,700,000
Utilities Authority
North Bergen Municipal S340652-16R $13,200,000 $17,600,000
Utilities Authority
North Hudson Sewer S340952-37R $2,550,000 $3,400,000
Authority
North Hudson Sewer S340952-40R $3,750,000 $5,000,000
Authority
North Hudson Sewer S340952-42R $17,925,000 $23,900,000
Authority
Passaic Valley Sewerage S340689-51R $45,600,000 $60,800,000
Commission
Passaic Valley Sewerage S340689-37R $24,000,000 $32,000,000
Commission
Ridgefield Park Village S340688-06R $1,425,000 $1,900,000
Total Projects: 12 $177,525,000 $236,700,000
(2) The loans authorized in this subsection shall be made to or on behalf of the project sponsors listed, up to the individual amounts indicated, to the extent sufficient funds are available, except as a project fails to meet the requirements of section 4, 5, or 7 of this act.
(3) The zero-interest loans for the projects authorized in this subsection shall have priority over projects listed in subsection a. of section 3 of this act.
b. (1) The department is authorized to expend funds for the purpose of making supplemental loans to or on behalf of the project sponsors listed below for the following drinking water environmental infrastructure projects:
Project Sponsor Project Number Estimated Allowable Estimated Total
DEP Loan Amount Loan Amount
Brick Township Municipal 1506001-011R $2,812,500 $3,750,000
Utilities Authority
Camden City 0408001-001R $9,750,000 $13,000,000
East Orange City 0705001-014R $1,500,000 $2,000,000
New Brunswick City 1214001-005R $56,778,750 $75,705,000
Total Projects: 4 $70,841,250 $94,455,000
(2) The loans authorized in this subsection shall be made to or on behalf of the project sponsors listed, up to the individual amounts indicated, to the extent sufficient funds are available, except as a project fails to meet the requirements of section 4, 5, or 7 of this act.
(3) The zero-interest loans for the projects authorized in this subsection shall have priority over projects listed in subsection b. of section 3 of this act.
c. The department is authorized to adjust the allowable department loan amount for projects authorized in this section to between zero percent and 100 percent of the total allowable loan amount, and, if the department loan amount is adjusted to 100 percent of the total allowable loan amount, the loan shall be provided pursuant to the terms and conditions of the financing program year in which the construction loan component of the project was certified by the department, and for which the trust issued an interim financing program loan for the project, or, in the absence of an interim financing program loan, the terms and conditions of the State fiscal year 2027 financing program.
3. a. (1) The following environmental infrastructure projects shall be known and may be cited as the “Storm Sandy and State Fiscal Year 2027 Clean Water Project Eligibility List”:
Project Sponsor Project Number Estimated Allowable Estimated Total
DEP Loan Amount Loan Amount
Oakland Borough S340418-06 $5,790,000 $7,720,000
Rahway Valley Sewerage S340547-17 $4,500,000 $6,000,000
Authority
Rahway Valley Sewerage Authority S340547-18 $5,625,000 $7,500,000
Mendham Borough S340159-04 $4,125,000 $5,500,000
Newark City S340815-25 $750,000 $1,000,000
Berkeley Heights Township S340385-05 $5,625,000 $7,500,000
Camden County Municipal S340640-32 $26,925,000 $35,900,000
Utilities Authority
Montgomery Township S340130-03 $21,750,000 $29,000,000
Newton Town S340449-09 $5,250,000 $7,000,000
Montgomery Township S340130-05 $14,812,500 $19,750,000
Camden City S340366-14 $7,027,500 $9,370,000
Jersey City Municipal S340928-37 $37,651,862 $50,202,482
Utilities Authority
Middlesex County Utilities S340699-18 $15,750,000 $21,000,000
Authority
Middlesex County Utilities S340699-21 $26,625,000 $35,500,000
Authority
Middlesex County Utilities S340699-17 $19,500,000 $26,000,000
Authority
North Bergen Municipal S340652-16 $46,500,000 $62,000,000
Utilities Authority
Hoboken City S340635-08 $28,500,000 $38,000,000
Paterson City S340850-07 $3,000,000 $4,000,000
Elizabeth City S340942-20 $17,250,000 $23,000,000
Elizabeth City S345070-01 $3,000,001 $4,000,001
Camden County Municipal S340640-33 $21,750,000 $29,000,000
Utilities Authority
Kearny Town S340259-11 $12,750,000 $17,000,000
Ridgefield Park Village S340688-06 $9,150,000 $12,200,000
Paterson City S340850-08 $900,000 $1,200,000
Bayshore Regional Sewer S340697-07 $23,625,000 $31,500,000
Authority
Ocean County Utilities S340372-64 $37,500,000 $50,000,000
Authority
Bayshore Regional Sewer S340697-09 $3,847,350 $5,129,800
Authority
North Hudson Sewer Authority S340952-42 $40,125,000 $53,500,000
North Hudson Sewer Authority S340952-40 $17,625,000 $23,500,000
North Hudson Sewer Authority S340952-37 $9,750,000 $13,000,000
North Hudson Sewer Authority S340952-39 $13,500,000 $18,000,000
Perth Amboy City S340435-22 $5,250,000 $7,000,000
Verona Township S340533-05 $1,875,000 $2,500,000
Hackensack City S340923-16 $10,500,000 $14,000,000
Millville City S340921-09 $8,250,000 $11,000,000
Ship Bottom Borough S340311-06 $2,212,500 $2,950,000
Passaic Valley Sewerage S340689-37 $91,125,000 $121,500,000
Commission
Passaic Valley Sewerage S340689-44 $18,000,000 $24,000,000
Commission
Passaic Valley Sewerage S345200-01 $7,500,000 $10,000,000
Commission
Passaic Valley Sewerage S340689-51 $92,437,500 $123,250,000
Commission
Passaic Valley Sewerage S340689-49 $222,102,676 $296,136,901
Commission
Passaic Valley Sewerage S340689-33 $80,250,000 $107,000,000
Commission
Mount Laurel Township Municipal S340943-08 $5,400,000 $7,200,000
Utilities Authority
Pennsville Sewerage Authority S340870-05 $7,500,000 $10,000,000
Beach Haven Borough S344220-01 $2,700,000 $3,600,000
Stony Brook Regional Sewer S340400-12 $17,400,000 $23,200,000
Authority
Ocean County Utilities Authority S340372-78 $862,500 $1,150,000
Bergen County Utilities Authority S340386-23 $45,000,000 $60,000,000
Camden County Municipal S340640-44 $1,275,000 $1,700,000
Utilities Authority
Linden Roselle Sewer Authority S340299-08 $20,250,000 $27,000,000
Flemington Borough S340440-06 $1,102,500 $1,470,000
Elizabeth City (JMEUC) S340686-11b $4,800,000 $6,400,000
Newark City (JMEUC) S340686-11g $1,042,500 $1,390,000
East Orange City (JMEUC) S340686-11a $508,500 $678,000
Union Township (JMEUC) S340686-11k $1,837,500 $2,450,000
Irvington Township (JMEUC) S340686-11d $1,687,500 $2,250,000
West Orange Township (JMEUC) S340686-11l $1,200,000 $1,600,000
Maplewood Township (JMEUC) S340686-11e $712,500 $950,000
Hillside Township (JMEUC) S340686-11c $711,000 $948,000
Summit City (JMEUC) S340686-11j $900,000 $1,200,000
Millburn Township (JMEUC) S340686-11f $650,250 $867,000
South Orange Village (JMEUC) S340686-11i $531,000 $708,000
Roselle Park Borough (JMEUC) S340686-11h $390,000 $520,000
Berkeley Township S344020-03 $1,612,500 $2,150,000
Bergen County Utilities Authority S340386-26 $4,500,000 $6,000,000
Camden County Municipal S340640-37 $31,800,000 $42,400,000
Utilities Authority
East Orange City (JMEUC) S340686-12a $1,800,000 $2,400,000
Elizabeth City (JMEUC) S340686-12b $20,625,000 $27,500,000
Hillside Township (JMEUC) S340686-12c $2,700,000 $3,600,000
Irvington Township (JMEUC) S340686-12d $7,050,000 $9,400,000
Maplewood Township (JMEUC) S340686-12e $2,767,500 $3,690,000
Millburn Township (JMEUC) S340686-12f $2,460,000 $3,280,000
Newark City (JMEUC) S340686-12g $4,125,000 $5,500,000
Roselle Park Borough (JMEUC) S340686-12h $1,267,500 $1,690,000
South Orange Village (JMEUC) S340686-12i $1,875,000 $2,500,000
Summit City (JMEUC) S340686-12j $3,600,000 $4,800,000
Union Township (JMEUC) S340686-12k $7,650,000 $10,200,000
West Orange Township (JMEUC) S340686-12l $4,875,000 $6,500,000
Bergen County Utilities Authority S340386-13 $63,750,000 $85,000,000
East Orange City (JMEUC) S340686-08a $1,443,750 $1,925,000
Elizabeth City (JMEUC) S340686-08b $16,188,750 $21,585,000
Hillside Township (JMEUC) S340686-08c $2,141,250 $2,855,000
Irvington Township (JMEUC) S340686-08d $5,538,750 $7,385,000
Maplewood Township (JMEUC) S340686-08e $2,178,750 $2,905,000
Millburn Township (JMEUC) S340686-08f $1,942,500 $2,590,000
Newark City (JMEUC) S340686-08g $3,262,500 $4,350,000
Roselle Park Borough (JMEUC) S340686-08h $1,020,000 $1,360,000
South Orange Village (JMEUC) S340686-08i $1,515,000 $2,020,000
Summit (JMEUC) City S340686-08j $2,842,500 $3,790,000
Union Township (JMEUC) S340686-08k $6,022,500 $8,030,000
West Orange Township (JMEUC) S340686-08l $3,847,500 $5,130,000
Lambertville Municipal Utilities S340882-11 $1,575,000 $2,100,000
Authority
Lakehurst Borough S340150-01 $1,200,000 $1,600,000
Landis Sewerage Authority S340461-07 $2,250,000 $3,000,000
Rockaway Valley Regional Sewer S340821-11 $10,125,000 $13,500,000
Authority
Cumberland County Utilities S340550-09 $10,500,000 $14,000,000
Authority
Seaside Heights Borough S340236-02 $4,125,000 $5,500,000
South Monmouth Regional Sewer S340377-08 $1,725,000 $2,300,000
Authority
Passaic Valley Sewerage S340689-57 $32,175,000 $42,900,000
Commission
East Orange City (JMEUC) S340686-13a $339,750 $453,000
Elizabeth City (JMEUC) S340686-13b $3,210,000 $4,280,000
Hillside Township (JMEUC) S340686-13c $480,000 $640,000
Irvington Township (JMEUC) S340686-13d $1,147,500 $1,530,000
Maplewood Township (JMEUC) S340686-13e $487,500 $650,000
Millburn Township (JMEUC) S340686-13f $435,000 $580,000
Newark City (JMEUC) S340686-13g $712,500 $950,000
Roselle Park Borough (JMEUC) S340686-13h $255,000 $340,000
South Orange Village (JMEUC) S340686-13i $355,500 $474,000
Summit City (JMEUC) S340686-13j $618,750 $825,000
Union Township (JMEUC) S340686-13k $1,237,500 $1,650,000
West Orange Township (JMEUC) S340686-13l $810,000 $1,080,000
Hamilton Township S340898-06 $3,037,500 $4,050,000
South Monmouth Regional Sewer S340377-07 $2,827,500 $3,770,000
Authority
Long Branch Sewerage Authority S340336-11 $1,837,500 $2,450,000
Maple Shade Township S340710-06 $1,612,500 $2,150,000
Metuchen Borough S340360-02 $6,750,000 $9,000,000
Newton Town S340449-08 $2,737,500 $3,650,000
Stafford Township S340946-11 $10,050,000 $13,400,000
Stafford Township S340946-12 $6,000,000 $8,000,000
Vernon Township S340745-03 $2,271,750 $3,029,000
Little Egg Harbor Municipal S340579-05 $3,150,000 $4,200,000
Utilities Authority
Hightstown Borough S340915-08 $1,875,000 $2,500,000
Tuckerton Borough S340034-06 $900,000 $1,200,000
Pleasantville City S340752-04 $3,246,413 $4,328,550
Middlesex County Utilities S340699-20 $11,250,000 $15,000,000
Authority
Woodbridge Township S340433-13 $6,375,000 $8,500,000
Middlesex County Utilities S340699-16 $20,250,000 $27,000,000
Authority
Monmouth County Bayshore S340325-04 $2,062,500 $2,750,000
Outfall Authority
Monmouth County Bayshore S340325-04a $2,062,500 $2,750,000
Outfall Authority
Camden County Municipal S340640-30 $5,625,000 $7,500,000
Utilities Authority
Camden County Municipal S340640-34 $13,350,000 $17,800,000
Utilities Authority
Rockaway Valley Regional Sewer S340821-10 $6,375,000 $8,500,000
Authority
Toms River Municipal Utilities S340145-10 $4,732,500 $6,310,000
Authority
Toms River Municipal Utilities S340145-07 $6,750,000 $9,000,000
Authority
Two Rivers Water Reclamation S340117-10 $2,475,000 $3,300,000
Authority
Two Rivers Water Reclamation S340117-10a $112,500,000 $150,000,000
Authority
Brick Township Municipal S340448-12 $6,750,000 $9,000,000
Utilities Authority
Brick Township Municipal S340448-15 $1,650,000 $2,200,000
Utilities Authority
Franklin Township Sewerage S340839-11 $1,875,000 $2,500,000
Authority
Western Monmouth Utilities S340128-08 $6,000,000 $8,000,000
Authority
Franklin Township Sewerage S340839-10 $7,125,000 $9,500,000
Authority
Landis Sewerage Authority S340461-10 $2,700,000 $3,600,000
Landis Sewerage Authority S340461-06 $2,250,000 $3,000,000
Mount Laurel Township Municipal S340943-09 $4,500,000 $6,000,000
Utilities Authority
Hackensack City S340923-22 $1,987,500 $2,650,000
North Brunswick Township S340888-04 $2,625,000 $3,500,000
Hillside Township S340686-10 $2,475,000 $3,300,000
Berkeley Heights Township S340385-08 $525,000 $700,000
Edgewater Park Sewerage Authority S340108-03 $2,250,000 $3,000,000
Haddon Heights Borough S340877-02 $487,500 $650,000
Highlands Borough S340901-05 $6,375,000 $8,500,000
Buena Borough S340519-01 $2,700,000 $3,600,000
Wildwood Crest Borough S340719-05 $3,075,000 $4,100,000
Cape May City S340258-03 $4,687,500 $6,250,000
Gibbsboro Borough S340871-04 $1,125,000 $1,500,000
Long Beach Township S340023-10 $5,677,500 $7,570,000
Fieldsboro Borough S340522-01 $3,750,000 $5,000,000
North Bergen Township S340652-17 $3,225,000 $4,300,000
Passaic Valley Sewerage S340689-46 $51,750,000 $69,000,000
Commission
Passaic Valley Sewerage S340689-54 $16,950,000 $22,600,000
Commission
Ocean Gate Borough S340151-02 $1,125,000 $1,500,000
Atlantic City S340439-07 $1,575,000 $2,100,000
Camden County Municipal S340640-35 $3,862,500 $5,150,000
Utilities Authority
Ocean County Utilities Authority S340372-65 $3,150,000 $4,200,000
Northwest Bergen County S340700-22 $2,025,000 $2,700,000
Utilities Authority
Seaside Heights Borough S340236-03 $2,550,000 $3,400,000
Seaside Park Borough S340083-05 $1,275,000 $1,700,000
North Bergen Municipal Utilities S340652-19 $975,000 $1,300,000
Authority
Boonton Town S340265-02 $2,475,000 $3,300,000
Runnemede Borough S340363-07 $8,250,000 $11,000,000
Cumberland County S340438-03 $1,125,000 $1,500,000
Cumberland County S340438-03a $15,000,000 $20,000,000
Little Egg Harbor Township S340579-06 $3,000,000 $4,000,000
Gloucester Township S340364-19 $1,500,000 $2,000,000
Gloucester Township S340364-16 $450,000 $600,000
Gloucester Township S340364-17 $967,649 $1,290,198
Gloucester Township S340364-18 $1,125,000 $1,500,000
Passaic Valley Sewerage S340689-66 $17,625,000 $23,500,000
Commission
Hackensack City S340923-25 $1,575,000 $2,100,000
Trenton City S340416-14 $18,000,000 $24,000,000
New Brunswick City S340437-13 $2,362,500 $3,150,000
Atlantic City Municipal Utilities S340439-04 $2,300,000 $3,066,667
Authority
East Orange City S340843-03 $12,825,000 $17,100,000
Sussex County Municipal Utilities S342008-07 $5,625,000 $7,500,000
Authority
Lakewood Township Municipal S340465-04 $6,000,000 $8,000,000
Utilities Authority
Passaic Valley Water Commission S340322-03 $2,850,000 $3,800,000
Manchester Township S340650-09 $3,262,500 $4,350,000
Manchester Township S340650-10 $4,500,000 $6,000,000
Lyndhurst Township S340426-09 $3,000,000 $4,000,000
Pine Hill Municipal Utilities S340274-06 $1,500,000 $2,000,000
Authority
Boonton Town S340265-03 $712,500 $950,000
Glen Ridge Borough S340861-02 $1,575,000 $2,100,000
Bordentown City S340219-04 $3,000,000 $4,000,000
Island Heights Borough S340176-03 $750,000 $1,000,000
Total Projects: 194 $1,951,118,701 $2,601,491,599
(2) The department is authorized to make clean water and drinking water project loans to the following municipalities receiving funding from the “Pinelands Infrastructure Trust Fund,” established pursuant to section 14 of the “Pinelands Infrastructure Trust Bond Act of 1985,” P.L.1985, c.302:
Project Sponsor Project Number Estimated Total Loan Amount
Pemberton Twp. Pinelands 1 $2,929,000
Manchester Twp./Jackson MUA Pinelands 2 $7,192,035
Galloway Twp. Pinelands 4 $3,493,440
Winslow Twp. Pinelands 5 $1,728,940
Total Pinelands Projects: 4 $15,343,415
b. The following environmental infrastructure projects shall be known and may be cited as the “State Fiscal Year 2027 Drinking Water Project Eligibility List”:
Project Sponsor Project Number Estimated Allowable Estimated Total
DEP Loan Amount Loan Amount
Passaic Valley Water Commission 1605002-002 $41,287,500 $55,050,000
Lakewood Township Municipal 1514002-001 $11,250,000 $15,000,000
Utilities Authority
Orange City 0717001-013 $975,000 $1,300,000
New Brunswick City 1214001-001 $9,637,500 $12,850,000
New Brunswick City 1214001-005 $79,500,000 $106,000,000
Camden City 0408001-001 $55,725,000 $74,300,000
Wildwood City 0514001-007 $18,750,000 $25,000,000
Red Bank Borough 1340001-004 $9,000,000 $12,000,000
Flemington Borough 1009001-010 $300,000 $400,000
Manchester Utilities Authority 1603001-001 $787,500 $1,050,000
Bloomfield Township 0702001-004 $3,000,000 $4,000,000
Jersey City Municipal Utilities 0906001-035 $38,587,500 $51,450,000
Authority
Merchantville Pennsauken 0424001-006 $7,612,500 $10,150,000
Water Commission
Aqua New Jersey Incorporated 0415002-001 $6,637,500 $8,850,000
East Newark Borough 0902001-001 $1,537,500 $2,050,000
Ridgewood Village 0251001-001 $46,012,500 $61,350,000
Ridgewood Village 0251001-002 $13,500,000 $18,000,000
Ridgewood Village 0251001-003 $7,200,000 $9,600,000
Ridgewood Village 0251001-004 $9,637,500 $12,850,000
Ridgewood Village 0251001-005 $4,725,000 $6,300,000
Ridgewood Village 0251001-006 $4,725,000 $6,300,000
Belleville Township 0701001-008 $2,676,564 $3,568,752
Livingston Township 0710001-001 $9,000,000 $12,000,000
Livingston Township 0710001-002 $3,750,000 $5,000,000
Ramsey Borough 0248001-016 $2,962,500 $3,950,000
Essex Fells Borough 0706001-004 $3,750,000 $5,000,000
Essex Fells Borough 0706001-005 $3,787,500 $5,050,000
Lake Stockholm Systems, Inc. 1911002-001 $1,725,000 $2,300,000
Aqua New Jersey Incorporated 1911004-001 $2,250,000 $3,000,000
Newton Town 1915001-001 $3,000,000 $4,000,000
Atlantic City Municipal Utilities 0102001-013 $3,900,000 $5,200,000
Authority
Washington Township Municipal 1438004-005 $6,825,000 $9,100,000
Utilities Authority
Wildwood City 0514001-008 $2,662,500 $3,550,000
NJ American Water Company, Inc. 2121001-001 $9,450,000 $12,600,000
Newark City 0714001-023 $17,250,000 $23,000,000
Seaside Heights Borough 1526001-002 $7,500,000 $10,000,000
Allentown Borough 1302001-006 $945,000 $1,260,000
Allentown Borough 1302001-007 $2,437,500 $3,250,000
Bloomfield Township 0702001-006 $7,387,500 $9,850,000
NJ American Water Company, Inc. 2004002-015 $15,000,000 $20,000,000
Trenton City 1111001-013 $7,893,900 $10,525,200
Ridgewood Village 0251001-007 $13,462,500 $17,950,000
Aqua New Jersey Incorporated 2119001-002 $7,162,500 $9,550,000
Hawthorne Borough 1604001-003 $2,100,000 $2,800,000
Hawthorne Borough 1604001-004 $2,250,000 $3,000,000
Hawthorne Borough 1604001-006 $2,587,500 $3,450,000
Maple Shade Township 0319001-001 $3,600,000 $4,800,000
Margate City 0116001-003 $4,950,000 $6,600,000
Chatham Borough 1404001-001 $7,666,500 $10,222,000
Bayonne City 0901001-005 $9,375,000 $12,500,000
Hightstown Borough 1104001-013 $1,125,000 $1,500,000
Longport Borough 0115001-001 $4,650,000 $6,200,000
Passaic Valley Water Commission 1605002-033 $3,750,000 $5,000,000
Park Ridge Borough 0247001-002 $3,187,500 $4,250,000
Jersey City Municipal Utilities 0906001-024 $13,762,500 $18,350,000
Authority
Manchester Utilities Authority 1603001-004 $1,500,000 $2,000,000
Mount Laurel Township Municipal 0324001-004 $1,500,000 $2,000,000
Utilities Authority
Verona Township 0720001-006 $3,750,000 $5,000,000
Verona Township 0720001-007 $3,450,000 $4,600,000
Boonton Town 1401001-003 $4,875,000 $6,500,000
Old Bridge Municipal Utilities 1209002-005 $3,525,000 $4,700,000
Authority
Cape May City 0502001-005 $1,875,000 $2,500,000
Stone Harbor Borough 0510001-001 $6,262,500 $8,350,000
Newton Town 1915001-003 $750,000 $1,000,000
Seaside Heights Borough 1526001-003 $4,050,000 $5,400,000
Hightstown Borough 1104001-011 $825,000 $1,100,000
Hoboken City 0905001-004 $3,112,500 $4,150,000
Burlington City 0305001-003 $1,650,000 $2,200,000
Berkeley Township Municipal 1505323-001 $1,575,000 $2,100,000
Utilities Authority
North Brunswick Township 1215001-008 $4,875,000 $6,500,000
Edison Township 1205001-001 $6,375,000 $8,500,000
Ship Bottom Borough 1528001-005 $1,687,500 $2,250,000
Little Egg Harbor Municipal 1516001-007 $2,625,000 $3,500,000
Utilities Authority
Clinton Town 1005001-021 $2,887,500 $3,850,000
Clinton Town 1005001-022 $1,687,500 $2,250,000
Glen Ridge Borough 0708001-010 $2,625,000 $3,500,000
North Caldwell Borough 0715001-002 $2,850,000 $3,800,000
Roosevelt Borough 1314001-003 $1,500,000 $2,000,000
Roosevelt Borough 1341001-008 $750,000 $1,000,000
Roosevelt Borough 1341001-009 $600,000 $800,000
Robbinsville Township 1112001-001 $2,062,500 $2,750,000
Evesham Municipal Utilities 0313001-004 $3,225,000 $4,300,000
Authority
Willingboro Municipal Utilities 0338001-014 $2,625,000 $3,500,000
Authority
Marlboro Township 1328002-010 $1,387,500 $1,850,000
Monroe Municipal Utilities 0811002-003 $4,875,000 $6,500,000
Authority
Ventnor City 0122001-003 $3,375,000 $4,500,000
Hawthorne Borough 1604001-005 $1,200,000 $1,600,000
Pine Hill Municipal Utilities 0428002-006 $2,325,000 $3,100,000
Authority
Point Pleasant Beach Borough 1525001-003 $1,875,000 $2,500,000
Allamuchy Township 2101001-001 $1,125,000 $1,500,000
Ocean Gate Borough 1521001-004 $750,000 $1,000,000
Brookwood Musconetcong River 1904001-005 $1,575,000 $2,100,000
Property Owners Association
Mount Arlington Borough 1426005-001 $1,575,000 $2,100,000
Brick Township Municipal 1506001-016 $8,475,000 $11,300,000
Utilities Authority
Verona Township 0720001-008 $1,500,000 $2,000,000
Pemberton Township 0329004-001 $3,187,500 $4,250,000
Lavallette Borough 1515001-002 $4,987,500 $6,650,000
Harvey Cedars Borough 1509001-002 $2,325,000 $3,100,000
Total Projects: 98 $679,781,964 $906,375,952
c. The department is authorized to adjust the allowable department loan amount for projects authorized in this section to between zero percent and 100 percent of the total allowable loan amount, and, if the department loan amount is adjusted to 100 percent of the total allowable loan amount, the loan shall be provided pursuant to the terms and conditions of the financing program year in which the construction loan component of the project was certified by the department, and for which the trust issued an interim financing program loan, or, in the absence of an interim financing program loan, the terms and conditions of the State fiscal year 2027 financing program.
4. Any financing loan made by the department pursuant to this act shall be subject to the following requirements:
a. The Commissioner of Environmental Protection has certified that the project is in compliance with the provisions of P.L.1977, c.224, P.L.1985, c.329, P.L.1992, c.88, P.L.1997, c.223, P.L.1997, c.225, or P.L.2003, c.162, and any rules and regulations adopted pursuant thereto;
b. Except as otherwise provided in this subsection, a loan for an environmental infrastructure project listed in section 2 or 3 of this act shall be subject to the terms and conditions of the financing program year in which the construction loan component of the project was certified by the department, and for which the trust issued an interim financing program loan, or, in the absence of an interim financing program loan, the terms and conditions of the State fiscal year 2027 financing program;
c. Notwithstanding the provisions of sections 2 and 3 of this act, the department allowable loan amount may be 100 percent of the total allowable loan amount for:
(1) clean water project and drinking water project loans to: (a) municipalities that do not satisfy the New Jersey Infrastructure Bank credit policy but are subject to State financial supervision and oversight pursuant to the “Local Government Supervision Act (1947),” P.L.1947, c.151 (C.52:27BB-1 et seq.); or (b) municipal, county, or regional sewerage authorities, or utilities authorities, that do not satisfy the New Jersey Infrastructure Bank credit policy but where the municipal participant through its service agreement with the authority or utility is under State financial supervision and oversight pursuant to the “Local Government Supervision Act (1947),” P.L.1947, c.151 (C.52:27BB-1 et seq.), and the repayment obligation of the authority or utility is secured by the full faith and credit of the participating municipality pursuant to the service agreement;
(2) clean water and drinking water loans to municipalities receiving funding under the United States Department of Housing and Urban Development Community Development Block Grant – Disaster Recovery Program (CDBG-DR); and
(3) clean water loans to municipal, county, or regional sewerage authorities that qualify for Sewer Overflow and Stormwater Reuse grants for combined sewer overflows or stormwater management projects;
d. With the exception of a loan for which the department issues 100 percent of the loan amount pursuant to subsection b. of section 2, subsection c. of section 3, and subsection c. of this section, the loan shall be conditioned upon approval of a loan from the New Jersey Infrastructure Bank pursuant to P.L.2026, c.36;
e. The loan shall be repaid within a period not to exceed 30 years, or 35 years for loans funded pursuant to the federal “Water Infrastructure Finance and Innovation Act of 2014,” 33 U.S.C. s.3901 et seq., as amended and supplemented, or 45 years for combined sewer overflow abatement projects, of the making of the loan; and
f. The loan shall be subject to any other terms and conditions as may be established by the commissioner and approved by the State Treasurer, which may include, notwithstanding any other provision of law to the contrary, subordination of a loan authorized in this act to loans made by the New Jersey Infrastructure Bank pursuant to P.L.2026, c.36, or to administrative fees payable to the trust pursuant to subsection o. of section 5 of P.L.1985, c.334 (C.58:11B-5).
g. Notwithstanding the provisions of any applicable law or regulation to the contrary, drinking water projects may be funded by the “Pinelands Infrastructure Trust Fund” established pursuant to section 14 of the “Pinelands Infrastructure Trust Bond Act of 1985,” P.L.1985, c.302. Drinking water projects financed by the Pinelands Infrastructure Trust Fund shall be funded in accordance with the regulations applicable to the financing of wastewater projects by the Pinelands Infrastructure Trust Fund unless and until regulations specific to the financing of drinking water projects are promulgated.
5. Any Sandy financing loan made by the department pursuant to this act shall be subject to the following requirements:
a. The commissioner has certified that the project is in compliance with the provisions of Title X, Chapter 7 of the Federal Disaster Relief Appropriations Act;
b. The commissioner has certified that the project is in compliance with the provisions of P.L.1977, c.224, P.L.1985, c.329, P.L.1992, c.88, P.L.1997, c.223, P.L.1997, c.225, or P.L.2003, c.162, and any rules and regulations adopted pursuant thereto; and
c. The loan shall be subject to any other terms and conditions as may be established by the commissioner and approved by the State Treasurer, which may include, notwithstanding any other provision of law to the contrary, subordination of a loan authorized in this act to loans made by the trust pursuant to P.L.2026, c.36, or to administrative fees payable to the trust pursuant to subsection o. of section 5 of P.L.1985, c.334 (C.58:11B-5).
6. The eligibility lists and authorization for the making of loans pursuant to sections 2 and 3 of this act shall expire on July 1, 2027, and any project sponsor which has not executed and delivered a loan agreement with the department for a loan authorized in this act shall no longer be entitled to that loan.
7. The Commissioner of Environmental Protection is authorized to reduce or increase the individual amount of loan funds made available to or on behalf of project sponsors pursuant to sections 2 and 3 of this act based upon final or low-bid building costs defined in and determined in accordance with rules and regulations adopted by the commissioner pursuant to section 4 of P.L.1985, c.329, section 2 of P.L.1999, c.362 (C.58:12A-12.2), or section 5 of P.L.1981, c.261, provided that the total loan amount does not exceed the estimated total allowable loan amount. The commissioner is authorized to reduce or increase the individual amount of loan funds made available to or on behalf of project sponsors pursuant to sections 2 and 3 of this act in an amount not to exceed 10 percent of the total allowable loan amount based upon additional project costs to comply with the department’s guidance for asset management, emergency response, flood protection, and auxiliary power.
8. The expenditure of the funds appropriated by this act is subject to the provisions and conditions of P.L.1977, c.224, P.L.1985, c.302, P.L.1985, c.329, P.L.1989, c.181, P.L.1992, c.88, P.L.1997, c.223, P.L.1997, c.225, or P.L.2003, c.162, and the rules and regulations adopted by the Commissioner of Environmental Protection pursuant thereto, and the provisions of the Federal Disaster Relief Appropriations Act, the Federal Clean Water Act, and the Federal Safe Drinking Water Act, and any amendatory and supplementary acts thereto.
9. The department shall provide general technical assistance to any project sponsor requesting assistance regarding environmental infrastructure project development or applications for funds for a project.
10. a. Prior to repayment to the Clean Water State Revolving Fund pursuant to sections 1 and 2 of P.L.2009, c.77 and any amendatory and supplementary acts thereto, prior to repayment to the “Wastewater Treatment Fund” pursuant to the provisions of section 16 of P.L.1985, c.329, prior to repayment to the “1992 Wastewater Treatment Fund” pursuant to the provisions of section 28 of P.L.1992, c.88, prior to repayment to the Drinking Water State Revolving Fund, prior to repayment to the “Stormwater Management and Combined Sewer Overflow Abatement Fund” pursuant to the provisions of section 15 of P.L.1989, c.181, prior to repayment to the “2003 Water Resources and Wastewater Treatment Fund” pursuant to the provisions of section 20 of P.L.2003, c.162, prior to repayment to the “Water Supply Fund” pursuant to the provisions of section 15 of P.L.1981, c.261, or prior to the repayment to the “Pinelands Infrastructure Trust Fund” pursuant to the provisions of section 5 of P.L.1985, c.302, repayments of loans made pursuant to these acts may be utilized by the New Jersey Infrastructure Bank, established pursuant to P.L.1985, c.334 (C.58:11B-1 et seq.), as amended and supplemented by P.L.1997, c.224, under terms and conditions established by the commissioner and trust, approved by the State Treasurer, and consistent with the provisions of P.L.1985, c.334 (C.58:11B-1 et seq.) and federal tax, environmental, or securities law, to the extent necessary to secure repayment of trust bonds issued to finance loans approved pursuant to P.L.2026, c.36, and to secure the administrative fees payable to the trust pursuant to subsection o. of section 5 of P.L.1985, c.334 (C.58:11B-5) by the project sponsors receiving trust loans.
b. Prior to repayment to the Clean Water State Revolving Fund pursuant to section 1 and 2 of P.L.2009, c.77 and any amendatory and supplementary acts thereto, prior to repayment to the “Wastewater Treatment Fund” pursuant to the provisions of section 16 of P.L.1985, c.329, prior to repayment to the “1992 Wastewater Treatment Fund” pursuant to the provisions of section 28 of P.L.1992, c.88, prior to repayment to the “Water Supply Fund” pursuant to the provisions of section 15 of P.L.1981, c.261, prior to repayment to the Drinking Water State Revolving Fund, prior to repayment to the “2003 Water Resources and Wastewater Treatment Fund” pursuant to the provisions of section 20 of P.L.2003, c.162, prior to repayment to the “Stormwater Management and Combined Sewer Overflow Abatement Fund” pursuant to the provisions of section 15 of P.L.1989, c.181, or prior to repayment to the “Pinelands Infrastructure Trust Fund” pursuant to the provisions of section 5 of P.L.1985, c.302, the trust is further authorized to utilize repayments of loans made pursuant to P.L.1989, c.189, P.L.1990, c.99, P.L.1991, c.325, P.L.1992, c.38, P.L.1993, c.193, P.L.1994, c.106, P.L.1995, c.219, P.L.1996, c.85, P.L.1997, c.221, P.L.1998, c.84, P.L.1999, c.174, P.L.2000, c.92, P.L.2001, c.222, P.L.2002, c.70, P.L.2003, c.158, P.L.2004, c.109, P.L.2005, c.196, P.L.2006, c.68, P.L.2007, c.139, P.L.2008, c.68, P.L.2009, c.102, P.L.2010, c.63, P.L.2011, c.93, P.L.2012, c.43, P.L.2013, c.95, P.L.2014, c.25, P.L.2015, c.108, P.L.2016, c.32, P.L.2017, c.143, as amended by P.L.2017, c.326, P.L.2018, c.85, as amended by P.L.2018, c.137, P.L.2019, c.12, P.L.2019, c.193, as amended by P.L.2019, c.514, P.L.2020, c.49, as amended by P.L.2021, c.21, P.L.2021, c.203, as amended by P.L.2021, c.328, P.L.2022, c.99, as amended by P.L.2023, c.6, P.L.2023, c.120, as amended by P.L.2023, c.344, P.L.2024, c.35, as amended by P.L.2025, c.10, P.L.2025, c.109, as amended by P.L.2025, c.182, or this act, to secure repayment of trust bonds issued to finance loans approved pursuant to P.L.1995, c.218, P.L.1996, c.87, P.L.1997, c.222, P.L.1998, c.85, P.L.1999, c.173, P.L.2000, c.93, P.L.2001, c.224, P.L.2002, c.71, P.L.2003, c.159, P.L.2004, c.110, P.L.2005, c.197, P.L.2006, c.67, P.L.2007, c.140, P.L.2008, c.67, P.L.2009, c.101, P.L.2010, c.62, P.L.2011, c.95, P.L.2012, c.38, P.L.2013, c.94, P.L.2014, c.26, P.L.2015, c.107, P.L.2016, c.31, P.L.2017, c.142, as amended by P.L.2017, c.327, P.L.2018, c.84, as amended by P.L.2019, c.30, P.L.2019, c.192, as amended by P.L.2019, c.515, P.L.2020, c.48, as amended by P.L.2021, c.22, P.L.2021, c.204, as amended by P.L.2021, c.316, P.L.2022, c.100, as amended by P.L.2023, c.5, P.L.2023, c.119, as amended by P.L.2023, c.343, P.L.2024, c.41, as amended by P.L.2025, c.8, P.L.2025, c.125, as amended by P.L.2025, c.183, or P.L.2026, c. 36 and to secure the administrative fees payable to the trust under these loans pursuant to subsection o. of section 5 of P.L.1985, c.334 (C.58:11B-5).
c. To the extent that any loan repayment sums are used to satisfy any trust bond repayment or administrative fee payment deficiencies, the trust shall repay such sums to the department for deposit into the Clean Water State Revolving Fund, the “Wastewater Treatment Fund,” the “1992 Wastewater Treatment Fund,” the “Water Supply Fund,” the Drinking Water State Revolving Fund, the “2003 Water Resources and Wastewater Treatment Fund,” the “Stormwater Management and Combined Sewer Overflow Abatement Fund,” or the “Pinelands Infrastructure Trust Fund,” as appropriate, from amounts received by or on behalf of the trust from project sponsors causing any such deficiency.
11. The Commissioner of Environmental Protection is authorized to enter into capitalization grant agreements as may be required pursuant to the Federal Disaster Relief Appropriations Act, the Federal Clean Water Act, or the Federal Safe Drinking Water Act.
12. There is appropriated to the New Jersey Infrastructure Bank, established pursuant to P.L.1985, c.334 (C.58:11B-1 et seq.), from repayments of loans and interest deposited in any account, on or before June 30, 2027, including the “Clean Water State Revolving Fund,” the “1992 Wastewater Treatment Fund,” the “Water Supply Fund,” the “Stormwater Management and Combined Sewer Overflow Abatement Fund,” the “2003 Water Resources and Wastewater Treatment Fund,” or the Drinking Water State Revolving Fund, as appropriate, and from any net earnings received from the investment and reinvestment of such deposits, such sums as the chairperson or secretary of the trust shall certify to the Commissioner of Environmental Protection to be necessary and appropriate for deposit into one or more reserve funds or accounts established by the trust pursuant to section 11 of P.L.1985, c.334 (C.58:11B-11).
13. There is appropriated to the New Jersey Infrastructure Bank, established pursuant to P.L.1985, c.334 (C.58:11B-1 et seq.), funds from the Federal Disaster Relief Appropriations Act deposited in any account, including the Clean Water State Revolving Fund, the “Water Supply Fund,” or the Drinking Water State Revolving Fund, as appropriate, funds transferred by the department to the New Jersey Infrastructure Bank pursuant to paragraph (21) of subsection a. of section 1 of this act, and funds from any net earnings received from the investment and reinvestment of such deposits, such sums as the chairperson of the trust certifies to the Commissioner of Environmental Protection to be necessary and appropriate for deposit into one or more reserve funds or accounts established by the trust pursuant to section 11 of P.L.1985, c.334 (C.58:11B-11).
14. This act shall take effect immediately.
Approved July 8, 2026.