Authorizes EDA to use moneys in "Global Warming Solutions Fund" to support projects to refurbish or upgrade existing electricity generation facilities.

This bill authorizes New Jersey's Economic Development Authority (EDA) to use funds from the "Global Warming Solutions Fund" to provide grants or financial assistance to commercial, institutional, and industrial entities. The funds specifically support projects that refurbish or upgrade *existing* electricity generation facilities to modernize, expand, or extend their operational lifespan. Projects must demonstrate measurable reductions in greenhouse gas emissions, potentially through technologies like carbon capture or fuel cells, though combined heat and power facility upgrades are exempt from this requirement. The "Global Warming Solutions Fund" is financed through New Jersey's participation in the Regional Greenhouse Gas Initiative (RGGI).