New Jersey has unveiled initial plans for $1 billion in federal funds for new drinking and wastewater infrastructure over the next five years.

Department of Environmental Protection Commissioner Shawn LaTourette called the new cash infusion “exciting” and said it amounts to a “once-in-a-generation” investment.

But it’s just a fraction of the estimated $30 billion in new pipes, equipment and other improvements the state needs.

State environmental officials say the federal funds will be dispersed over time, with about $170 million slated for this year.

Just what it will exactly go toward exactly will depend in part on the outcome of planned stakeholder meetings. The first is set for Monday.