15. Each county, municipality, and authority shall adopt rules and regulations requiring that not less than the prevailing wage rate be paid to workers employed in the performance of any construction contract undertaken in connection with financial assistance provided for the construction of a stormwater management system under P.L.2019, c.42 (C. 40A:26B-1 et al.). The prevailing wage rate shall be the rate determined by the Commissioner of Labor pursuant to the provisions of P.L.1963, c.150 (C. 34:11-56.25 et seq.).

For the purposes of this section, “financial assistance” means any loan, bond, loan guarantee, grant, incentive, tax exemption, or other financial assistance approved, funded, authorized, administered, or provided by the municipality, county, or authority in connection with the construction of a stormwater management system.

L.2019, c.42, s.15.