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Senate committee advances Infrastructure Bank bills, hearing composting advocates on financing
Summary
The Senate Environment and Energy Committee unanimously released a family of bills authorizing the New Jersey Infrastructure Bank to finance environmental infrastructure and community hazard mitigation, with testimony urging explicit eligibility for composting projects and noting 0% loans and principal forgiveness in proposed financing.
The Senate Environment and Energy Committee unanimously advanced a package of measures authorizing the New Jersey Infrastructure Bank to finance environmental infrastructure and community hazard assistance for fiscal 2027.
Chairman Smith introduced the four related items — S4217, S4220, S4221 and SCR135 — as a “family of bills” and noted broad industry support submitted by groups including the Associated Construction Contractors and operating engineers. The committee moved and voted to release each measure for further consideration.
Zachary Klein, an attorney and co-chair of the New Jersey Composting Council’s advocacy committee, testified in support of S4221, which he said would appropriate funds to the Department of Environmental Protection to provide “0 interest loans and principal forgiveness through the state's environmental infrastructure financing programs in partnership with New Jersey's infrastructure bank.” He argued composting and compost utilization projects deliver measurable water-quality and soil-health benefits and urged the committee to “recognize composting, compost utilization projects, expressly as eligible investments under these bills.”
Klein detailed the environmental benefits of compost, citing EPA findings that it ‘‘increases water infiltration, improves water holding capacity, enhances nutrient retention, and reduces erosion’’ when applied to agricultural lands, parks and green infrastructure, and said compost projects can be designed to protect nearby waterways while producing valuable soil amendments.
Committee members noted the iBank’s record financing environmental infrastructure at low interest rates and described the bills as a timely opportunity to support projects that can also help meet the state’s food-waste reduction goals. The panel released each bill by unanimous roll call.
Votes at committee: S4217, S4220, S4221 and SCR135 were each released by unanimous roll calls and will proceed to the next legislative steps.
