This bill amends existing legislation to authorize the New Jersey Economic Development Authority (EDA) to provide grants from the "Global Warming Solutions Fund" specifically for the replacement of inefficient or polluting agricultural equipment with more efficient, less polluting alternatives. The bill expands the eligibility for funding to include agricultural entities alongside commercial, institutional, and industrial sectors. It outlines that 60% of the fund's appropriated moneys will be allocated to the EDA for various projects, including the new provision for agricultural equipment replacement. The EDA, in consultation with the Board of Public Utilities (BPU) and the Department of Environmental Protection (DEP), will determine the grant application process, which will require applicants to demonstrate that their old equipment has been permanently decommissioned.

In addition to the new provisions for agricultural grants, the bill retains existing funding allocations for energy efficiency projects, combined heat and power production, and offshore wind projects. The EDA will also be responsible for establishing evaluation criteria for selecting projects that can demonstrate measurable reductions in greenhouse gas emissions or energy demand. The bill emphasizes the importance of coordination among the agencies administering these programs to avoid overlap and ensure effective use of the fund. Overall, this legislation aims to enhance environmental sustainability in the agricultural sector while continuing to support broader energy efficiency and emissions reduction initiatives.

Statutes affected:
Introduced: 26:2C-51