Bill Text: NJ A3951 | 2024-2025 | Regular Session | Introduced
Bill Title: Appropriates $28,670,924 in 2003 and 1992 bond act monies for loans for dam restoration and repair projects and inland waters projects.
Spectrum: Partisan Bill (Republican 4-0)
Status: (Introduced) 2024-03-04 - Introduced, Referred to Assembly Environment, Natural Resources, and Solid Waste Committee [A3951 Detail]
Download: New_Jersey-2024-A3951-Introduced.html
Sponsored by:
Assemblywoman DAWN FANTASIA
District 24 (Morris, Sussex and Warren)
Co-Sponsored by:
Assemblyman Inganamort
SYNOPSIS
Appropriates $28,670,924 in 2003 and 1992 bond act monies for loans for dam restoration and repair projects and inland waters projects.
CURRENT VERSION OF TEXT
As introduced.
An Act appropriating $22,431,294 from the "Dam, Lake, Stream, Flood Control, Water Resources, and Wastewater Treatment Project Bond Act of 2003," P.L.2003, c.162, and $6,239,630 from the "Green Acres, Clean Water, Farmland and Historic Preservation Bond Act of 1992," P.L.1992, c.88, to provide loans for dam restoration and repair projects and inland waters projects.
Be It Enacted by the Senate and General Assembly of the State of New Jersey:
1. a. There is appropriated to the Department of Environmental Protection from the "2003 Dam, Lake and Stream Project Revolving Loan Fund," established pursuant to section 17 of the "Dam, Lake, Stream, Flood Control, Water Resources, and Wastewater Treatment Project Bond Act of 2003," P.L.2003, c.162, the sum of $22,431,294, made available due to project cancellations, withdrawals, cost savings, interest earnings, and loan repayments, for the purpose of providing loans to owners of private dams, or private lake associations or similar organizations, as co-applicants with local government units, or to local government units that own dams, to finance the costs of dam restoration and repair projects and inland waters projects undertaken by, or on behalf of, the owners of dams or lakes. This sum shall include administrative costs and shall be allocated as follows:
|
Dam Name |
Applicant |
Loan Amount
|
|
High Crest Lake Dam |
High Crest Lake Lodge, Inc. |
$1,250,000 |
|
Mount Glen Dam |
Mount Glen Lakes Assoc. |
$3,000,000 |
|
Lake Winona Dam |
Lake Winona Civic Assoc. |
$4,700,000 |
|
Cooper River Pkwy. Dam |
Camden County |
$2,000,000 |
|
Giffords Mill Dam |
Pinelands Regional School District |
$707,319 |
|
Upper & Lower Farm Crest |
Farm Crest Acres Assoc. |
$350,000 |
|
Lake Plymouth Dam |
Lake Plymouth Comm. Assoc. |
$1,200,000 |
|
Braddock Mill Lake Dam |
Braddocks Mill Conservation Assoc. |
$1,046,800 |
|
Fawn Lake Dam |
Deer Trail Lake Comm. Club |
$2,420,000 |
|
Camp Karney Dam |
Salem County |
$3,400,000 |
|
Pine Mill Lake Dam |
Pemberton Township |
$545,000 |
|
Holiday Pond Dam |
Community Corp. of Highpoint, Inc. |
$750,000 |
|
High Crest Lake |
High Crest Lake Lodge, Inc. |
$500,000 |
|
Administrative Costs |
|
$562,175 |
b. Any unexpended funds remaining after completion of the projects listed in subsection a. of this section shall be returned to the "2003 Dam, Lake and Stream Project Revolving Loan Fund" for re-appropriation to fund additional projects authorized by law.
c. Any transfer of any funds, or change in project sponsor or project site, listed in subsection a. of this section shall require the approval of the Joint Budget Oversight Committee or its successor.
d. There is appropriated to the Department of Environmental Protection such sums as may be, or may become, available on or before June 30, 2023, due to interest earnings or loan repayments to the "2003 Dam, Lake and Stream Project Revolving Loan Fund," to fund the projects listed in subsection a. of this section, and additional projects authorized by law.
e. The expenditures of sums appropriated by this section are subject to the provisions and conditions set forth in P.L.2003, c.162.
2. a. There is appropriated to the Department of Environmental Protection from the "1992 Dam Restoration and Clean Water Trust Fund," established pursuant to section 26 of the "Green Acres, Clean Water, Farmland and Historic Preservation Bond Act of 1992," P.L.1992, c.88, the sum of $6,239,630 made available due to project cancellations, withdrawals, cost savings, interest earnings, and loan repayments, for the purpose of providing loans to assist local government units, and private lake associations or similar organizations or owners of private dams, as co-applicants with local government units, to meet the costs of dam restoration and inland waters projects. This sum shall be allocated as follows:
|
Project Name |
Applicant |
Loan Amount
|
|
Mountain Creek Lake Dam |
Mountain Creek Resort |
$3,000,000 |
|
Silver Lake Dam |
Silver Lake Assoc. |
$289,630 |
|
Lake Garrison Dam |
Lake Garrison, Inc. |
$2,850,000 |
|
Swannanoa Lake Dam |
Lake Swannanoa Homeowners Assoc. |
$100,000 |
b. Any unexpended funds remaining after completion of the projects listed in subsection a. of this section shall be returned to the "1992 Dam Restoration and Clean Water Trust Fund" for re-appropriation to fund additional projects authorized by law.
c. Any transfer of any funds, or change in project sponsor or project site, listed in subsection b. of this section shall require the approval of the Joint Budget Oversight Committee or its successor.
d. There is appropriated to the Department of Environmental Protection such sums as may be, or may become, available on or before June 30, 2023, due to interest earnings or loan repayments to the "1992 Dam Restoration and Clean Water Trust Fund," to fund the projects listed in subsection a. of this section, and additional projects authorized by law.
e. The expenditures of sums appropriated by this section are subject to the provisions and conditions set forth in P.L.1992, c.88.
3. This act shall take effect immediately.
STATEMENT
This bill appropriates $28,670,924 in 2003 and 1992 bond act monies for loans for dam restoration and repair projects and inland waters projects, including administrative costs, for 17 projects identified in the bill.
Of this funding: $22,431,294 is from the "2003 Dam, Lake and Stream Project Revolving Loan Fund," established pursuant to section 17 of the "Dam, Lake, Stream, Flood Control, Water Resources, and Wastewater Treatment Project Bond Act of 2003," P.L.2003, c.162; and $6,239,630 is from the "1992 Dam Restoration and Clean Water Trust Fund," established pursuant to section 26 of the "Green Acres, Clean Water, Farmland and Historic Preservation Bond Act of 1992," P.L.1992, c.88. These monies are made available due to project cancellations, withdrawals, cost savings, interest earnings, and loan repayments.
The funds from the 2003 bond act will provide 13 loans to owners of private dams, or private lake associations or similar organizations, as co-applicants with local government units, or to local government units that own dams, to finance the costs of dam restoration and repair projects undertaken by, or on behalf of, the owners of dams and to an inland waters project. The funds from the 1992 bond act will provide four loans to assist private lake associations or similar organizations or owners of private dams, as co-applicants with local government units, to meet the costs of dam restoration projects.
In addition, the bill appropriates monies that may be, or may become, available on or before June 30, 2023, due to interest earnings or loan repayments to the 2003 and 1992 fund, as appropriate, to fund projects listed in the bill and additional projects authorized by law.
