S 4217 — Authorizes NJ Infrastructure Bank to expend certain sums to make loans for Community Hazard Assistance Mitigation Program projects for FY2027.

S4217P.L. SENATE, No.

42172026, STATEc.035 OF(S4217) NEWT&E JERSEY 222nd LEGISLATURE   INTRODUCEDP.L. MAY 11, 2026     Sponsored by:

Senator 2026, RAJCHAPTER MUKHERJI35, Districtapproved 32July (Hudson)8, Senator 2026 DECLANSenate, J.No.

O'SCANLON,4217 JR.    An Act authorizing the expenditure of funds by the New Jersey Infrastructure Bank for the purpose of making loans to eligible project sponsors to finance the cost of certain hazard mitigation and resilience projects.

District 13 (Monmouth) Assemblywoman  MAUREEN ROWAN District 2 (Atlantic) Assemblywoman  MARGIE DONLON, M.D.

District 11 (Monmouth) Assemblyman  WILLIAM B.

SAMPSON, IV District 31 (Hudson)   Co-Sponsored by:

Senator Polistina, Assemblyman Singh and Assemblywoman Brennan         SYNOPSIS      Authorizes NJ Infrastructure Bank to expend certain sums to make loans for Community Hazard Assistance Mitigation Program projects for FY2027.

  CURRENT VERSION OF TEXT      As introduced.

   An Act authorizing the expenditure of funds by the New Jersey Infrastructure Bank for the purpose of making loans to eligible project sponsors to finance the cost of certain hazard mitigation and resilience projects.

       2.    a.  The New Jersey Infrastructure Bank is authorized to expend the aggregate sum of $13,093,000, or such amounts as can be supported through balances in the “Community Hazard Assistance Mitigation Program Revolving Loan Fund” established pursuant to section 3 of P.L.2023, c.63 (C.58:11B-10.6), including any appropriations from the Legislature, for the purpose of making loans to, or on behalf of, local government units to finance all or a portion of the cost of construction of the projects listed in section 4 of this act.

of section 6 of this act;

4   $28,578,804 $13,093,000        b.  The bank is authorized to adjust the allowable loan amount for each project authorized in this section as appropriate, provided that the total amount of loan issuance remains within available funds, and each loan is issued pursuant to the terms and conditions of the State Fiscal Year 2027 Community Hazard Assistance Mitigation Program.

     a.  The chairperson, vice-chairperson, or secretary of the bank shall certify that the project complies with the applicable provisions of P.L.2023, c.63, P.L.1985, c.334, and any amendatory and supplementary acts thereto, and any rules and regulations adopted pursuant thereto, as applicable, and any policy statements relating to CHAMP set forth in the State Fiscal Year 2027 CHAMP Financial Plan.  In making this certification, the chairperson, vice-chairperson, or secretary may conclusively rely on the project review conducted by the State Office of Emergency Management without any independent review thereof by the bank.

     b. b. The bank is authorized to increase each loan amount authorized in section 4 of this act by the interest accrued pursuant to a loan made to a project sponsor pursuant to the Community Hazard Assistance Mitigation Program, issuance expenses, and administrative expenses associated with federal funding programs allocable to each loan made by the bank pursuant to this act.

     c.  The bank is authorized to increase each loan amount authorized in section 4 of this act by the interest accrued pursuant to a loan originationmade fee.to a project sponsor pursuant to the Community Hazard Assistance Mitigation Program, issuance expenses, and administrative expenses associated with federal funding programs allocable to each loan made by the bank pursuant to this act.

     c.

The bank is authorized to increase each loan amount authorized in section 4 of this act by a loan origination fee.

                                            Authorizes NJ Infrastructure Bank to expend certain sums to make loans for Community Hazard Assistance Mitigation Program projects for FY2027.