Directs EDA to establish New Jersey Energy Independence Bank.
Bill A3263 establishes the New Jersey Energy Independence Bank as an independent subsidiary of the New Jersey Economic Development Authority (EDA). The bank will provide financing, loan guarantees, and other support for clean energy projects - including renewable generation, energy storage, efficiency upgrades, and electric vehicle infrastructure - primarily targeting residential, municipal, small business, and commercial developers. Key provisions require the bank to maintain separate finances from the EDA, have a board with majority independent members, and publicly disclose financing terms (with limited exceptions for confidential business information). The bill effectively renames the existing New Jersey Green Bank as the Energy Independence Bank and transfers its assets and staff to this new entity.
Bill status
in committee
1 of 4 stages cleared
Introduction
Jan 2026
Committee Review
Floor Vote
Governor
Introduced Jan 13, 2026
Last action Jan 13, 2026
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Full legislative history
Actions timeline
Total actions
1
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0
Committee
0
Jan 13, 2026
Introduced
Introduced, Referred to Assembly Telecommunications and Utilities Committee
lower
3 primary · 1 co-sponsor
Sponsors
Role
Legislator
Party
State
District
P
Dan Hutchison
DDemocratic
P
Rosy Bagolie
DDemocratic
P
Yvonne Lopez
DDemocratic
Co
Heather Simmons
DDemocratic
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