Authorizes New Jersey Infrastructure Bank to make loans for transportation projects in FY2027.

This bill authorizes the New Jersey Infrastructure Bank (NJIB) to expend up to $65,550,000 in Fiscal Year 2027 (FY2027) to provide low-interest loans to certain local government units that undertake one of 15 eligible transportation infrastructure projects set forth in the bill. The bill also authorizes the NJIB to make a maximum of $1 million in principal-forgiveness financing loans to project sponsors for planning and design costs. The NJIB can use various funds to cover its operating expenses, including loan repayments, bond sale proceeds, and federal funds.

Authorizes New Jersey Infrastructure Bank to make loans for transportation projects in FY2027.

This bill authorizes the New Jersey Infrastructure Bank (NJIB) to expend up to $65,550,000 in Fiscal Year 2027 (FY2027) to provide low-interest loans to certain local government units that undertake one of 15 eligible transportation infrastructure projects set forth in the bill. The bill also authorizes the NJIB to make a maximum of $1 million in principal-forgiveness financing loans to project sponsors for planning and design costs. The NJIB can use various funds to cover its operating expenses, including loan repayments, bond sale proceeds, and federal funds.