More than 180 clean water projects would receive low-interest funding in legislation sponsored by Senator Kip Bateman. The Senate Environment and Energy Committee today approved the bill (S4202).
Sen. Bateman’s legislation authorizes $1.5 billion in low-interest loans for more than 180 clean water projects. (Pixabay)
The measure authorizes the New Jersey Infrastructure Bank (NJIB) to expend more than $1.5 billion for loans for projects on the Storm Sandy and State Fiscal Year 2020 Clean Water Project Eligibility List and the Storm Sandy and State Fiscal Year 2020 Drinking Water Project Eligibility List.
“This funding will help ensure the safety of water in our communities with updated and more robust water pipes, and better sewer systems and storm water processes,” said Bateman (R-16). “Affordable financing for essential upgrades will protect public health and benefit the State environment.”
The bipartisan bill updates the list of environmental projects eligible for NJIB financing.
Sixty-two projects are on the drinking water list will get funding, as well as 122 are clean-water projects.
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