N.J. Admin. Code § 18:35-10.12

Current through Register Vol. 56, No. 11, June 3, 2024

Section 18:35-10.12 - Disposition of proceeds collected; collection assistance fees

(a) Upon effecting final setoffs, the Division shall periodically either write checks or effect credits through other methods, approved by the Office of Management and Budget to the respective claimant agencies for the net proceeds collected on their behalf.

(b) From the gross proceeds collected by the Division through setoff, the Division shall retain five percent. The amount shall be charged to the respective claimant agency as a collection assistance fee and may be subject to adjustment based upon experience.

Amended by 48 N.J.R. 295(a), effective 2/16/2016