Environment (Coastal & Flood Protection)

Bill S 1304 creates a dedicated "Flood Protection and Home Elevation Fund" using up to $5 million annually from realty transfer fees. It reimburses eligible homeowners for 25% of annual interest payments on loans used to elevate single-family or two-family homes (to reduce flood damage), capped at $750 per year, provided the homeowner’s county matches the reimbursement amount. Homeowners must complete elevation projects, obtain required approvals, and submit proof to qualify for annual reimbursements. The fund applies only to primary residences in flood-prone areas and requires counties to establish matching funding sources before providing support.

This bill appropriates $5 million from the General Fund to Cranford Township for flood control projects. It directly affects residents and infrastructure in Cranford, Union County, by funding specific flood mitigation work. Key provisions include constructing a pumping station to divert stormwater into the Rahway River, upgrading storm sewers, developing wetland data, and elevating riverbank dikes. The funds are allocated under a supplemental appropriation to the Department of Environmental Protection for the Cranford Northeast Quadrant Flood Control Project. The bill takes immediate effect upon enactment.

This bill requires New Jersey's Department of Environmental Protection (DEP) to take responsibility for dredging all waterways providing boat access to "lagoon communities" (coastal neighborhoods developed with lagoon-based boat access), including those not officially designated as navigational channels. It mandates the DEP to create a list of affected communities and a two-year dredging schedule within one year of the bill's effective date, followed by a maintenance schedule with annual cost estimates. The bill appropriates $6 million total ($5 million for initial dredging and $1 million for maintenance) to fund these efforts. It directly affects residents and properties in designated lagoon communities like Cedar Creek, Mystic Island Lagoons, and others, aiming to maintain economic and environmental health in coastal areas.

New Jersey's S 1644 establishes a loan program through the Economic Development Authority (EDA) to provide low-interest loans to small businesses (under 50 employees) for climate resiliency projects. The program targets businesses implementing projects like flood protection, water system upgrades, broadband expansion, or climate adaptation measures to reduce damage from events like hurricanes or sea-level rise. Loans will be issued from a dedicated revolving fund, replenished by repayments, with priority given to projects benefiting communities with climate vulnerability plans. Businesses must submit applications proving eligibility and outlining how funds will be used, and must provide annual financial reports until loans are repaid.

S 2338, the "Climate Superfund Act," imposes strict liability on fossil fuel companies responsible for over one billion metric tons of covered greenhouse gas emissions during 1995-2026 (the "covered period"). It requires these companies to pay compensatory damages into a state fund managed by the Department of Environmental Protection (DEP). The collected funds will finance climate change adaptation projects - such as flood protection, infrastructure upgrades, and heat-resilient housing - as defined in the bill. This legislation directly affects major fossil fuel extraction and refining entities operating in New Jersey during the covered period, establishing a new cost recovery program without requiring proof of negligence.