The bill amends various sections of P.L.2024, c.43, which pertains to the New Jersey Infrastructure Bank and its role in financing transportation infrastructure projects. Key definitions are clarified, including terms such as "bank," "capitalized interest," "debt service reserve fund expenses," and "loan origination fee." The bill authorizes the New Jersey Infrastructure Bank to expend a total of $61,400,000 for loans to local government units for transportation projects, with provisions for increasing loan amounts based on specific expenses like capitalized interest and reserve capacity expenses.

Additionally, the bill outlines the requirements for loans made by the bank, including compliance certifications and repayment terms. It allows for adjustments to loan amounts based on project costs and authorizes the bank to utilize proceeds from bond refunding to increase loan funds for project sponsors. The bill emphasizes the importance of adhering to the financial plan set forth in the State Fiscal Year 2025 Transportation Infrastructure Financing Program. Overall, the amendments aim to enhance the financing framework for transportation infrastructure projects in New Jersey.