Environmental project loan proposals released by committee

The Senate Environment and Energy Committee released a package of bills Thursday dealing with environmental project loans. Sign Up For

The Senate Environment and Energy Committee released a package of bills Thursday dealing with environmental project loans.

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S2910, sponsored by Sen. Linda Greenstein, (D-14), Mercer, would direct the New Jersey Environmental Infrastructure Trust to establish a special “Supplemental Loan Fund” for a short-term or temporary supplemental loan financing or refinancing program.

The bill provides that the Trust may make supplemental loans to local government units, public water utilities or private persons to pay for eligible costs incurred in excess of a previous loan amount.

S2911, sponsored by Sens.  James Beach, (D-6), Cherry Hill, and Joe Kyrillos, (R-13), Middletown, would appropriate funds  to the Department of Environmental Protection for the purpose of making grants, zero interest loans, or principal forgiveness loans to project sponsors to finance a portion of the costs of environmental infrastructure projects.

And S2912, sponsored by Sens. Nicholas Scutari, (D-22), Linden, and Thomas Kean Jr., (R-21), Westfield, would authorize the New Jersey Environmental Infrastructure Trust to  make loans for environmental infrastructure projects for FY2012.

Environmental project loan proposals released by committee