New Jersey governor seeks $500M bond to replace lead paint, pipes

New Jersey Gov. Phil Murphy ( Photo by Edwin J. Torres/Governor's Office )

New Jersey Gov. Phil Murphy is calling for a sweeping $500 million bond to finance the replacement of lead pipes and lead paint across the state.

The Democrat outlined his "comprehensive strategy" for dealing with the state's lead issue on Thursday, two months after the issue surfaced in Newark with positive tests for lead in drinking water.

The plan also calls on his Cabinet to come up with a publicly available lead testing strategy and an inventory of lead paint and plumbing. Only a handful of states require or do voluntary inventories of lead pipes leading to homes.

It's unclear whether the $500 million bond would be enough to finance the project entirely. Some estimates put the price tag of lead pipe replacement alone at $2 billion.