(TRENTON) – The New Jersey Infrastructure Bank (NJIB) has worked with the New Jersey Department of Environmental Protection (NJDEP) since 1985 to provide low cost loans for the construction of environmental infrastructure projects. Some of these projects include enhancing and protecting ground and surface water, ensuring the safety of drinking water supplies, and making sustainable economic development possible.
Every year, the NJIB creates a financial plan with the NJDEP, that is required to be approved by the Legislature, that provides loans for the New Jersey Environmental Infrastructure Financing Program. Assembly Democrats Linda Carter (D-Middlesex, Somerset, Union), Eric Houghtaling (D-Monmouth), and Shanique Speight (D-Essex) sponsor the concurrent resolution (ACR-213) that would approve the Fiscal Year 2022 Financial Plan of the NJIB.
The resolution was passed on Wednesday by the Assembly Environment and Solid Waste Committee.
Upon committee approval of the measure, Assembly members Carter, Houghtaling, and Speight issued the following joint statement:
“This resolution is an essential step for future safe development in New Jersey. The New Jersey Infrastructure Financing Program has allowed our state to make the necessary improvements toward progressing and protecting our environmental infrastructure. With the FY2022 Financial Plan, we will continue to create safer drinking water and protect our State’s resources.”