ASSEMBLY, No. 37

 

STATE OF NEW JERSEY

 

INTRODUCED JUNE 17, 1996

 

 

By Assemblyman AUGUSTINE and Assemblywoman J.SMITH

 

 

An Act appropriating funds from the Petroleum Overcharge Reimbursement Fund to the Board of Public Utilities.

 

    Be It Enacted by the Senate and General Assembly of the State of New Jersey:

 

    1. There is appropriated from the "Petroleum Overcharge Reimbursement Fund" created pursuant to section 1 of P.L.1987, c.231 (C.52:18A-209), the sum of $8,000,000 to the Department of the Treasury for distribution by the Board of Public Utilities to be used a follows: $3,500,000 for zero interest or low interest loans to State agencies or other facilities that are not eligible for loans from the State Energy Conservation Bond fund and the remainder in unspecified amounts for energy efficiency rehabilitation grants for public or private schools or nonprofit hospitals through the Institutional Conservation Program, grants for eligible energy conservation projects of local government entities, and grants or zero interest or low interest loans to State agencies or local government entities for the purchase of alternative fuel vehicles and the associated refueling infrastructure. The Board of Public Utilities shall administer the distribution of these monies.

 

    2. This act shall take effect July 1, 1996.

 

 

STATEMENT

 

    This bill appropriates $8,000,000 from the Petroleum Overcharge Reimbursement Fund to the Board of Public Utilities for energy conservation loans and grants. $3,500,000 is for zero interest or low interest loans to State agencies or other facilities that are not eligible for loans from the State Energy Conservation Bond fund. The remainder, in amounts determined by the Board of Public Utilities, is for: energy efficiency rehabilitation grants for public or private schools or nonprofit hospitals through the Institutional Conservation Program; grants for eligible energy conservation projects of local government entities; and grants or zero interest or low interest loans to State agencies or local government entities for the purchase of alternative fuel vehicles and the associated refueling infrastructure.

 

 

                             

 

Appropriates $8,000,000 from Petroleum Overcharge Reimbursement Fund to the BPU for energy conservation loans and grants.