This bill appropriates funds to the New Jersey Department of Environmental Protection (DEP) for various environmental infrastructure projects for the fiscal year 2025, utilizing resources from the "Clean Water State Revolving Fund," the "Interim Environmental Financing Program Fund," and the "Drinking Water State Revolving Fund." It allows for the transfer of funds between these revolving funds to address public health threats and meet financing needs for eligible projects. The bill also authorizes zero-interest loans and principal forgiveness financing to assist local government units and public water utilities, with specific provisions for disadvantaged communities, lead service line replacements, and projects enhancing climate resilience.

Additionally, the bill outlines a comprehensive framework for providing principal forgiveness and blended interest rate loans for clean water initiatives, establishing funding limits for various project categories. It caps total funding for Sandy-related financing loans at $300 million and specifies eligibility criteria for projects, including compliance with environmental laws. The bill also allows the DEP to transfer unexpended balances from various funds to support the New Jersey Environmental Infrastructure Financing Program (NJEIFP) and authorizes the New Jersey Infrastructure Bank to utilize loan repayments for ongoing projects, ensuring a sustainable funding mechanism for enhancing water quality and infrastructure across the state.