Authorizes NJ Infrastructure Bank to expend certain sums to make loans for transportation infrastructure projects for FY2027; makes appropriation.

This bill authorizes the New Jersey Infrastructure Bank to use $65.55 million in state funds to provide loans for transportation infrastructure projects during the 2027 fiscal year. The legislation specifically allows the bank to lend money to local government units for construction costs and includes a provision for up to $1 million in loans that may be forgiven for planning and design work if certain construction milestones are met. Additionally, the act permits the bank to increase its available funds to cover specific operational expenses, such as bond issuance costs and reserve requirements, ensuring the bank has the necessary resources to manage these loans. Ultimately, the measure directly affects local governments seeking financing for road, bridge, and transit improvements by establishing the legal framework and funding source for these loans.