A-4591
Establishes "Energy Infrastructure Public-Private Partnerships Program"; amends law concerning NJ infrastructure Bank; and authorizes certain energy contracts under "Public School Contracts Law" and "Local Public Contracts Law" up to 25 years.
Primary Sponsor:
DeAngelo, Wayne P.
STATEMENT:
This bill, entitled the "Energy Infrastructure Public-Private Partnership Act," would permit private entities to propose to public- private partnership eligible entities, as defined in the bill, certain energy-related projects through a public-private partnership (P3) agreement. The bill would create an Energy Infrastructure Public- Private Partnership Program (Energy P3 Program) and an Energy Infrastructure Financing Program within the New Jersey Infrastructure Bank (NJIB).
The Energy P3 Program would be responsible for the formulation and execution of a comprehensive Statewide policy for P3 agreements that facilitate the development of energy-related projects and for the development, promotion, coordination, oversight, and approval of P3 agreements for energy-related projects. The Energy Infrastructure Financing Program would provide loans and other forms of financial assistance to P3 eligible entities that are parties to public-private partnership agreements to develop and finance energy-related projects pursuant to the bill