N.J. Admin. Code § 19:31U-1.18

Current through Register Vol. 56, No. 12, June 17, 2024

Section 19:31U-1.18 - Recovery Infrastructure Fund

(a) The Authority shall establish a dedicated fund to be known as the Recovery Infrastructure Fund. Money in the fund shall be dedicated to the purpose of funding local infrastructure, which shall include:

1. Buildings and structures, such as schools, fire houses, police stations, recreation centers, public works garages, and water and sewer treatment and pumping facilities;

2. Sidewalks, streets, roads, ramps, and jug handles;

3. Open space with improvements, such as athletic fields, playgrounds, and planned parks;

4. Open space without improvements;

5. Public transportation facilities, such as train stations and public parking facilities; and

6. The purchase of equipment considered vital to public safety.

(b) The fund shall be credited with money remitted by eligible businesses pursuant to paragraph (2) of subsection b. of section 71 at P.L. 2020, c. 156, or N.J.A.C. 19:31U-1.3(c)6 or 1.9(f)1.

(c) Money remitted to the fund by an eligible business pursuant to N.J.A.C. 19:31U-1.3(c)6 or 1.9(f)1 shall be earmarked for use on local infrastructure projects in the municipality in which the eligible business's project is located.

(d) A municipality shall apply to the Authority, in a form and manner prescribed by the Authority, for disbursements from the Recovery Infrastructure Fund. The Authority, in consultation with the Department of Community Affairs, shall review and approve applications for disbursements of money from the fund pursuant to the provisions of this section. Applications shall be reviewed in the order that completed applications are received. In order to be approved, an application will be required to meet a minimum score established by the Authority in consultation with the Department of Community Affairs, based on factors, including, but not limited to, whether the applicant demonstrates that it has a financing plan for the entire project and the proposed public benefit of the project. The Authority shall issue an approval with conditions to be met prior to disbursements.

(e) The Authority shall coordinate with the Department of Community Affairs to carry out the local infrastructure projects funded through the Recovery Infrastructure Fund. The Authority shall also coordinate with the Department of Community Affairs on the involvement by other boards, commissions, institutions, departments, agencies, and State officers and employees.

N.J. Admin. Code § 19:31U-1.18

Recodified from 19:31-22.18 56 N.J.R. 807(a), effective 5/6/2024