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). It modifies the definition of "local government unit" to explicitly include the commission, thereby allowing it to access financial resources for various projects, such as wastewater treatment, water supply, and transportation. The bill also ensures that any hazard mitigation and resilience projects undertaken by the commission will be treated as local government projects for funding eligibility purposes.

Furthermore, the bill outlines a standardized process for the commission to request funding from the I-Bank or the Department of Environmental Protection, ensuring that these requests are reviewed similarly to those from other local government units. It establishes 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 environmental projects in New Jersey.

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