New Jersey legislation · 2026-2027 Regular Session
New Jersey S4217: Community Hazard Assistance Mitagation Prog projects, FY2027-expend cert sums
Status: Signed into law, July 8, 2026
Authorizes NJ Infrastructure Bank to expend certain sums to make loans for Community Hazard Assistance Mitigation Program projects for FY2027.
What the bill says
An Act authorizing the expenditure of funds by the New Jersey Infrastructure Bank for the purpose of making loans to eligible project sponsors to finance the cost of certain hazard mitigation and resilience projects. Jersey: 1. As used in this act: Bank means the New Jersey Infrastructure Bank, established pursuant to section 4 of P.L.1985, c.334 (C.58:11B-4). CHAMP means the Community Hazard Assistance Mitigation Program established pursuant to section 5 of P.L.2023, c.63 (C.58:11B-5a). Loan origination fee means the fee charged by the bank to pay a portion of the costs incurred by the.
From the chaptered text, July 8, 2026:
An Act authorizing the expenditure of funds by the New Jersey Infrastructure Bank for the purpose of making loans to eligible project sponsors to finance the cost of certain hazard mitigation and resilience projects. Jersey: 1. As used in this act: Bank means the New Jersey Infrastructure Bank, established pursuant to section 4 of P.L.1985, c.334 (C.58:11B-4). CHAMP means the Community Hazard Assistance Mitigation Program established pursuant to section 5 of P.L.2023, c.63 (C.58:11B-5a). Loan origination fee means the fee charged by the bank to pay a portion of the costs incurred by the bank in the implementation of the Community Hazard Assistance Mitigation Program. Project sponsor means a local government unit receiving a loan from the bank pursuant to this act. 2. a. The New Jersey Infrastructure Bank is authorized to expend the aggregate sum of $13,093,000, or such amounts as can be supported through balances in the Community Hazard Assistance Mitigation Program Revolving Loan Fund established pursuant to section 3 of P.L.2023, c.63 (C.58:11B-10.6), including any appropriations from the Legislature, for the purpose of making loans to, or on behalf of, local government units to finance all or a portion of the cost of construction of the projects listed in section 4 of this act. b. The bank is authorized to increase the aggregate sum specified in subsection …