N.J. Admin. Code § 9A:13-1.7

Current through Register Vol. 56, No. 9, May 6, 2024

Section 9A:13-1.7 - Cancellation or reduction in grants

(a) The Secretary may reduce or cancel entirely the amount of a grant if the amounts are not committed within 18 months of the allocations made by the Secretary. Funds will be considered committed when a grant agreement has been entered into between an institution and the Authority.

(b) No reduction in the grant shall be made pursuant to (a) above if:

1. The request for approval to modify the grant has been received by Secretary within 18 months of the allocation;

2. The facility in which the technology infrastructure will be housed is under construction or renovation;

3. Delays are the result of Federal, State, or local governmental approvals or regulatory requirements not attributable to the institution; or

4. Other compelling and documentable reasons exist as determined by the Secretary.

(c) In the event that an institution requires a modification to a project approved for a grant, a formal request must be sent to the Secretary, prior to any action being taken by the institution, in order to evaluate the merits of the proposed modification against the purpose of the Act and the objectives set forth at N.J.A.C. 9A:13-1.5(b). The Secretary may exercise discretion to allow an institution to modify its project, if such modification is reasonable and consistent with the scope, objectives, purpose, and intent of the project originally approved for a grant, and if such modification does not constitute a material change. Project modifications will be reviewed on a case-by-case basis and must be authorized under the terms and conditions of the grant agreement, tax certificate, and any other applicable bond documents.

N.J. Admin. Code § 9A:13-1.7

New Rule, R.2013 d.072, effective 5/6/2013.
See: 45 N.J.R. 92(a), 45 N.J.R. 1132(a).
Former N.J.A.C. 9A:13-1.7, Reporting requirements, recodified to N.J.A.C. 9A:13-1.8.

Amended by 54 N.J.R. 1413(a), effective 7/18/2022