This bill appropriates funds to the New Jersey Department of Environmental Protection (DEP) from various state and federal sources to support clean water and drinking water projects, including the "Clean Water State Revolving Fund" and the "Drinking Water State Revolving Fund." It authorizes the DEP to transfer funds between these sources to address public health threats and meet financing needs for eligible projects. The bill also allows for zero-interest and principal-forgiveness loans to local government units or public water utilities, with specific provisions for disadvantaged communities, including a maximum of $20 million in principal forgiveness for combined sewer overflow projects. The appropriated funds will be available for loans and technical assistance through June 30, 2025.

Additionally, the bill establishes a maximum of $30 million in principal forgiveness for combined sewer overflow projects, with criteria based on the borrower's affordability score. It allocates funds for various water quality and efficiency projects, including those addressing emerging contaminants and lead service line replacements. The bill also authorizes the New Jersey Infrastructure Bank to finance approximately $714.9 million in environmental infrastructure projects across multiple municipalities, with specific loan amounts outlined for various projects. It emphasizes compliance with federal disaster relief and environmental regulations, sets a deadline for executing loan agreements by July 1, 2025, and mandates technical assistance for project sponsors, ultimately aiming to enhance the state's environmental infrastructure and support recovery efforts from Storm Sandy.