TRENTON — A package of bills authorizing environmental infrastructure funding for the 2013 fiscal year has been approved by the full Senate.
SCR-115, sponsored by senators Robert M. Gordon and Joseph M. Kyrillos, authorizes the FY 2013 financial plan for the New Jersey Environmental Infrastructure Trust (EIT). The Trust is a low-interest financing mechanism for clean water and drinking water projects throughout the state. Kyrillos a primary sponsor of the legislation that established the Trust.
“I am extremely pleased that the EIT program is entering its 26th year of helping local governments and other entities maintain safe and clean water resources throughout the state,” said Kyrillos (R- Monmouth). “This program has saved sponsors millions of dollars throughout the years, putting projects that would be otherwise unaffordable or difficult to finance within the realm of the possible.”
S-1980 and S-1981 implement the FY 2013 EIT Plan by appropriating federal and state dollars for distribution as loans for eligible projects as determined by the Department of Environmental Protection.
“Over the years, projects financed through this program have created 110, 000 construction jobs and invested $5.9 billion in our communities,” said state Sen. Christopher Bateman (R-Somerset). “The low interest loans authorized by this package of bills will put people back to work in New Jersey while preserving and protecting the environment that is so critical to our quality of life.”
“New Jersey is the most densely populated state in America, resulting in significant storm water and waste water management challenges,” said state Sen. Jennifer Beck (R-Monmouth). “These challenges, if left unaddressed threaten the quality of naturally occurring water sources and our drinking water. This program has proven effective in over two decades of operation in ensuring that the necessary investments are made each year to protect and improve water quality that otherwise might not be made.”
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