Assembly Commerce and Economic Development Committee Statement to Assembly, No. 2204 (January 27, 2020)

Summary

Statement of the Assembly Commerce and Economic Development Committee, State of New Jersey, dated January 27, 2020, reporting favorably Assembly Bill No. 2204. The bill authorizes the executive director of the New Jersey Economic Development Authority (EDA), in consultation with the Commissioner of Community Affairs, to establish a program of low-interest loans to developers and redevelopers whose new or renovated buildings qualify as high performance green buildings. The bill defines a high performance green building as a commercial, industrial or mixed use building of at least 15,000 square feet in total floor area. The building must achieve at least a silver LEED rating, a silver rating under the National Green Building Standards, a two globe Green Globes rating or a comparable rating.

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ASSEMBLY COMMERCE AND ECONOMIC DEVELOPMENT COMMITTEE

STATEMENT TO

ASSEMBLY,
No. 2204

STATE
OF NEW JERSEY

DATED: JANUARY
27, 2020

The Assembly Commerce and Economic Development Committee
reports favorably Assembly Bill No. 2204.

This bill authorizes the executive director of the New
Jersey Economic Development Authority (EDA) in consultation with the
Commissioner of Community Affairs, to establish and administer a program to make
low-interest loans to developers and redevelopers who construct new buildings
or renovate existing buildings which, when completed, qualify as “high
performance green buildings.” The bill defines “high performance green
building” as a commercial, industrial, or mixed use building having at least
15,000 square feet in total floor area that is designed and constructed in a
manner that achieves at least:

1) a silver rating according to the Leadership in
Energy and Environmental Design (“LEED”) Green Building Rating System as
adopted by the United States Green Building Council;

2) a silver rating according to the National Green
Building Standards as adopted by the International Code Council and the
American National Standards Institute;

3) a two globe rating according to the Green Globes
Program as adopted by the Green Building Initiative; or

4) a comparable numeric rating according to a
nationally recognized, accepted, and appropriate numeric sustainable
development rating system, guideline, or standard as the Commissioner of
Community Affairs, in consultation with the Commissioner of Environmental
Protection and the Board of Public Utilities, may designate by regulation.

This bill was pre-filed for introduction in the
2020-2021 session pending technical review. As reported, the bill includes the
changes required by technical review, which has been performed.

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