Requires DEP and New Jersey Infrastructure Bank to provide priority for principal forgiveness on environmental infrastructure project loans to municipalities in coastal areas.

This bill requires the New Jersey Department of Environmental Protection (DEP) and the New Jersey Infrastructure Bank to prioritize principal forgiveness for environmental infrastructure loans to municipalities in coastal areas. It specifically targets wastewater and drinking water projects in regions defined as "coastal areas" under existing law. The legislation amends current law to ensure coastal municipalities receive preferential treatment for loan forgiveness when accessing financing through the state's Water Bank program. This change would make it easier for coastal communities to secure funding for critical infrastructure improvements without full repayment of the loan principal.