The bill modifies the New Jersey Infrastructure Bank's (NJIB) authority to provide loans for environmental infrastructure projects for fiscal year 2025, reducing the aggregate loan amount from $2.73 billion to $2.47 billion. It allows for the inclusion of uncommitted balances from previous authorizations and specifies that the trust can increase available loan sums by incorporating various expenses, such as capitalized interest and administrative costs. The bill also outlines the process for transferring funds to the Department of Environmental Protection for drinking water and clean water project loans, ensuring that local government units and public water utilities can meet their financial needs.

Additionally, the bill establishes a framework for supplemental loans to project sponsors, allowing adjustments based on final building costs and prioritizing certain projects. It clarifies that loans can be made for the difference between allowable loan amounts and certified amounts from previous fiscal years, and it empowers the trust to make loans for projects partially funded by the "Pinelands Infrastructure Trust Fund." The bill also includes provisions for compliance certifications, repayment terms, and the redirection of unexpended bond proceeds to cover project costs. The eligibility for loans and projects is set to expire on July 1, 2025, unless agreements are executed by that date.