Legislation sponsored by Senator Christopher “Kip” Bateman (R-Mercer, Somerset, Middlesex, Hunterdon) to extend funding for projects paid for by the New Jersey Environmental Infrastructure Trust through 2017 was passed by the New Jersey Senate.
“This legislation streamlines the process of approving and financing important environmental infrastructure projects that protect our state’s drinking water and waterways,” Senator Bateman said. “In 2016, we’ve already taken advantage of it to finance more than $400 million in projects that will help us keep New Jersey’s water free off pollution and other contaminants.”
— Senator Kip Bateman (@KipBateman) November 21, 2016
The bill, S-2731, authorizes the NJEIT to continue making loans for infrastructure projects through 2017. It would be allowed to spend up to $641.576 million, as well as any funds left over from previous authorizations, to provide loans to finance a total of 108 eligible environmental infrastructure projects related to protect drinking and clean water initiatives.
In August 2016, other bills sponsored by Senator Bateman were implemented to streamline the funding process for similar projects. The NJEIT was given the authority to provides loans for 80 projects, like $5.2 million for upgrades at a sewage treatment plant in Somerset County and $1.8 million to fix stormwater systems in Manasquan that were damaged by Superstorm Sandy.
“Many of these projects have been needed for many years but never would have been done without this path to funding,” Senator Bateman said. “By extending authorization for the NJEIT we can ensure many more much needed improvements aren’t put on hold.”