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 (S 1608) requires the New Jersey Department of Environmental Protection (DEP) and the New Jersey Infrastructure Bank to prioritize principal forgiveness for environmental infrastructure loans to coastal municipalities. It directly affects municipalities in coastal areas seeking financing for wastewater treatment, water supply, or stormwater management projects. The key mechanism mandates that these entities give priority consideration to such projects when approving loan forgiveness under existing environmental financing programs. This policy change aims to support coastal communities facing infrastructure challenges by reducing their long-term debt burden on eligible projects.