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 and financial assistance to commercial, institutional, and industrial entities for projects that refurbish or upgrade existing electricity generation facilities. Specifically, 60% of the fund's annual allocation must support these facility upgrades (alongside other efficiency and renewable projects), with selection criteria requiring measurable reductions in greenhouse gas emissions or energy demand. The remaining funds are allocated to low-income residential energy programs (20%), local government climate initiatives (10%), and forest/tidal marsh restoration (10%). The bill clarifies how these funds will be distributed and administered, focusing on concrete policy changes to support energy modernization and emissions reduction.