Asm. Sterley Stanley

Maddy summaryThis bill authorizes the New Jersey Infrastructure Bank to provide $6,813,000 in loans for three specific hazard mitigation and resilience projects in fiscal year 2026. The loans will fund projects including McGovern Park Resilience in Jersey City, Highlands Borough flood mitigation, and Brick Township reservoir improvements, directly benefiting local governments. Borrowing entities must repay loans with interest over up to 30 years, and the bank may use accrued interest and fees to cover program costs and operating expenses. The program expires on July 1, 2026, with all loans subject to federal and state compliance requirements.

Maddy summaryThe bill appropriates state and federal funds to the New Jersey Department of Environmental Protection for environmental infrastructure projects in fiscal year 2026. It authorizes the DEP to provide zero-interest and principal-forgiveness loans to local governments and public water utilities for clean water and drinking water projects, including 151 clean water projects totaling $1.7 billion and 59 drinking water projects totaling $651.7 million. The bill specifies different funding mechanisms, including full principal forgiveness for qualifying projects and blended interest rates for larger projects, with all funding expiring on July 1, 2026.

Maddy summaryThis bill modifies New Jersey's requirements for condo and cooperative associations' capital reserve funds. It defines "adequate" funding as reserves sufficient to avoid falling below zero in a 30-year plan, and requires associations (not building owners) to conduct reserve studies every five years. Associations may fund reserves at 85% of recommended levels for up to five years, but must disclose the projected special assessment amount to unit owners and new buyers. The bill removes previous restrictions on special assessments and mandates clear notice about reduced funding. It applies to all associations of planned real estate developments with common interest communities.

Maddy summaryThis bill increases tax credits for investors who fund New Jersey emerging technology businesses by raising the credit rate from 20% to 60% of qualified investments (with an additional 5% available for investments in opportunity zones, low-income communities, or diverse entrepreneurs, making it 65% total). It lowers the employee threshold for qualifying businesses from 225 to 150 employees, expanding eligibility to more small technology companies. The bill also revises definitions of qualifying businesses and investments under the "New Jersey Angel Investor Tax Credit Act" while repealing the "New Jersey Ignite Act." These changes directly affect investors, emerging technology businesses, and qualified venture funds seeking tax benefits.

Maddy summaryThis bill authorizes the New Jersey Infrastructure Bank to provide up to $2.4 billion in loans for environmental infrastructure projects during fiscal year 2026. The loans would be available to local governments and public water utilities to fund projects that improve water quality, treatment systems, and drinking water infrastructure. The bill specifies eligibility for 151 clean water projects (totaling $1.28 billion in estimated loan amounts) and 59 drinking water projects (totaling $488.8 million in estimated loan amounts). Loan terms would require repayment within 30-45 years, with the bank authorized to adjust loan amounts based on actual project costs.

Maddy summarySCR 131 is a concurrent resolution approving the New Jersey Infrastructure Bank's Fiscal Year 2026 Financial Plan. The bill does not create new policy but formally endorses the bank’s submitted plan for financing eligible environmental projects, including clean water, drinking water, stormwater management, and pollution control initiatives. This approval is required by state law annually to authorize the bank to fund projects on the approved list developed by the Environmental Protection Department. The resolution affects the Infrastructure Bank directly, enabling it to proceed with its planned financing for public infrastructure projects.

Maddy summaryThis bill changes how New Jersey allocates lottery proceeds to the Common Pension Fund L. Currently, at least 30% of lottery revenue must go to the pension fund. The bill reduces this minimum to 25% for the first fiscal year after it takes effect, and permanently maintains that 25% rate starting in the fourth fiscal year if lottery sales and revenue over three consecutive years equal or exceed the base year (the year the bill becomes law). If sales and revenue fall below the base year during that three-year period, the allocation reverts to 30% the following year. The change directly affects how lottery funds are distributed between pension contributions and other state uses.

Maddy summaryThis bill establishes the "New Jersey Universal Preschool and Kindergarten Act" requiring all school districts to provide full-day kindergarten by the 2029-2030 school year. It creates a Universal Preschool Implementation Steering Committee to oversee preschool expansion and establishes preschool expansion grants for districts not currently providing State-funded preschool. The bill revises preschool education aid formulas to prioritize districts with higher concentrations of at-risk students and requires districts receiving preschool aid to partner with licensed childcare providers and Head Start programs. School districts must submit annual implementation plans and participate in quality improvement assessments. The legislation aims to expand access to high-quality preschool for all three- and four-year-olds in New Jersey.

Maddy summaryThis bill changes how New Jersey allocates lottery revenue to the state pension fund. Currently, at least 30% of lottery proceeds must fund the Common Pension Fund L. The bill lowers this minimum to 25% if average annual lottery sales and revenue over three consecutive years (after the bill's effective year) equal or exceed the base year's levels. If sales and revenue fall below the base year's figures during that period, the allocation reverts to 30% the following fiscal year. The change directly affects the state pension fund's funding from lottery revenue.

Maddy summaryThis bill increases tax credits for investors who fund New Jersey emerging technology businesses, raising the credit rate from 20% to 60% of qualified investments, with an additional 5% available for investments in opportunity zones, low-income communities, or certified minority/women-owned businesses. It also lowers the maximum employee count for qualifying businesses from 225 to 150 employees. The bill repeals the "New Jersey Ignite Act" while updating definitions and mechanisms for the tax credit program to better support technology startups across fields like biotechnology, renewable energy, and advanced computing. This change directly affects individual investors and venture funds making qualifying investments in New Jersey-based technology businesses.