Requires payment of prevailing wage for projects financed through commercial property assessed clean energy program.

Bill S 3407 requires that workers on projects financed through New Jersey's Commercial Property Assessed Clean Energy (C-PACE) program receive prevailing wage rates. The bill amends existing law to classify C-PACE financing as "authority financial assistance" subject to prevailing wage requirements under state law. This applies to all workers involved in construction and installation projects funded through the C-PACE program, including those for energy efficiency, renewable energy, water conservation, and resiliency improvements. The prevailing wage rate, determined by the Commissioner of Labor and Workforce Development, will apply to all such projects. The bill ensures workers on clean energy projects receive fair compensation aligned with local wage standards.