Authorizes $5 billion in bonds for resilient infrastructure projects in New Jersey.
Authorizes the issuance of $5 billion in State general obligation bonds to finance resilient infrastructure projects. Funds will be allocated for flood prevention, post-flood recovery, water infrastructure, and resilience projects. The State Office of Emergency Management will develop a priority system for project funding, with specific allocations for nature-based solutions and voluntary property buyouts. The bonds will be a direct obligation of the State, with the proceeds deposited in the Resilient Infrastructure Fund. The act will be submitted to voters for approval at a general election.
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