This bill amends New Jersey law to designate the Palisades Interstate Park Commission as an eligible recipient of funding from the New Jersey Infrastructure Bank (I-Bank). By modifying the definition of "local government unit," the bill explicitly includes the commission, allowing it to access financial resources for various projects such as wastewater treatment, water supply, and transportation. Additionally, any hazard mitigation and resilience projects undertaken by the commission will be classified as local government projects, qualifying them for funding under relevant statutes.

The bill also establishes a standardized process for the commission to request funding, ensuring that these requests are reviewed similarly to those from other local government units. Furthermore, it states that the passage of a legislative appropriations bill that includes funding for a project sponsored by the commission will serve as legislative authority for that project. The act is set to take effect immediately upon passage, enhancing the commission's ability to undertake necessary infrastructure improvements and support the state's environmental resilience.

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