Directs EDA to establish New Jersey Energy Independence Bank.

The bill directs the New Jersey Economic Development Authority (EDA) to establish the New Jersey Energy Independence Bank (NJEIB). The NJEIB would be an independent, wholly-owned subsidiary of the EDA. Its purpose would be to provide access to capital to support the development and construction of eligible environmental projects and to leverage public funds to attract private investment. The NJEIB would have a board of directors, consisting of no fewer than seven members, the majority of whom would be independent of the EDA.

Directs EDA to establish New Jersey Energy Independence Bank.

The bill directs the New Jersey Economic Development Authority (EDA) to establish the New Jersey Energy Independence Bank (NJEIB). The NJEIB would be an independent, wholly-owned subsidiary of the EDA. Its purpose would be to provide access to capital to support the development and construction of eligible environmental projects and to leverage public funds to attract private investment. The NJEIB would have a board of directors, consisting of no fewer than seven members, the majority of whom would be independent of the EDA.