This bill amends New Jersey law to designate the Palisades Interstate Park Commission as a "local government unit," thereby making it eligible for funding from the New Jersey Infrastructure Bank (I-Bank). This change allows the commission to apply for financial assistance for various projects, including those related to wastewater treatment, water supply, transportation, and hazard mitigation. By classifying projects undertaken by the commission as local government projects, the bill ensures that funding requests are processed similarly to those from other local government entities.

Furthermore, the bill introduces new legal language that clarifies the types of projects eligible for funding, specifically highlighting hazard mitigation and resilience projects, transportation improvements, wastewater treatment systems, and water supply projects. It also establishes that any legislative appropriations bill that includes funding for a project sponsored by the commission will serve as legislative authority for that project, facilitating the commission's ability to proceed with its initiatives once funding is secured. The act is set to take effect immediately upon passage.

Statutes affected:
Introduced: 58:11B-3, 58:11B-20.4