The resolution approves the Fiscal Year 2025 Financial Plan of the New Jersey Infrastructure Bank, which is a state financing authority responsible for providing loans and guaranteeing debt for environmental infrastructure projects. These projects include clean water, drinking water, stormwater management, and nonpoint source pollution initiatives. The New Jersey Infrastructure Bank is mandated by law to submit a financial plan to the Legislature that outlines the financing for these projects, which must be developed and approved by the Commissioner of Environmental Protection.

The resolution emphasizes that the approval of the Financial Plan is a necessary step for the implementation of funding for eligible projects in the upcoming fiscal year. The plan must be submitted to the Secretary of the Senate and the Clerk of the General Assembly by May 15, 2024, in accordance with existing legislation. The passage of this concurrent resolution by both Houses of the Legislature signifies their endorsement of the Financial Plan, ensuring that the necessary financial resources are allocated for the state's environmental infrastructure needs.