This bill authorizes the New Jersey Infrastructure Bank (NJIB) to allocate up to $53,450,000 in Fiscal Year 2026 for low-interest loans to local government units undertaking specific transportation infrastructure projects. It includes provisions for a maximum of $1 million in principal-forgiveness financing loans for planning and design costs, allowing for up to $100,000 to be forgiven for projects where at least $250,000 is financed through the Transportation Infrastructure Financing Program. The bill also enables the NJIB to utilize various funds, including loan repayments and capitalized interest, to support the FY2026 New Jersey Transportation Infrastructure Financing Program.

Additionally, the bill permits the NJIB to use generated funds, such as proceeds from bond sales and investment revenues, to cover its operating expenses for FY2026. It appropriates certain funds from the General Fund to the NJIB for short-term or temporary loans under the Disaster Relief Emergency Financing Program, subject to the approval of the Commissioner of Transportation. The act is set to take effect immediately and will expire on July 1, 2026, continuing the NJIB's mission to provide low-cost financing for critical transportation infrastructure projects in New Jersey.