Establishes Climate Change Mitigation and Resilience Financing Program in NJ Infrastructure Bank; imposes per-kilowatt hour charge on electric energy.
The bill establishes the Climate Change Mitigation and Resilience Financing Program in the New Jersey Infrastructure Bank (NJIB) to provide low-interest loans and other financial assistance for climate change mitigation and resilience projects. It imposes a per-kilowatt hour charge on electric energy consumption to fund the program. The NJIB will finance projects aimed at reducing greenhouse gas emissions and protecting against climate change impacts. The charge on electric utility customers will decrease as the state meets renewable energy targets.
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