N.J. Admin. Code § 19:31W-1.5

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

Section 19:31W-1.5 - Fees

(a) A business applying for benefits under this program shall submit a one-time non-refundable application fee of $ 2,000.

(b) A business shall pay to the Authority the full amount of direct costs of due diligence, including, but not limited to, debarment/disqualification reviews, or other analyses by a third-party retained by the Authority, if the Authority deems such retention to be necessary.

(c) A non-refundable fee of $ 5,000 shall be charged prior to the approval of the tax credit by the Authority, except that the fee shall be refunded if the Authority does not approve the tax credit.

(d) A business shall pay to the Authority an annual servicing fee of $ 2,000 at the time the business submits its annual report.

(e) A business shall pay to the Authority a non-refundable fee of $ 1,000 for each request for any administrative changes, additions, or modifications to the tax credit. If the Authority deems the changes, additions, or modifications to be major, such as those requiring extensive staff time and Board approval, the fee shall be $ 2,500.

(f) A business seeking to terminate an existing incentive agreement in order to participate in the PPE Manufacturing Tax Credit Program shall pay to the Authority a non-refundable fee of $ 2,500 for a termination that does not require extensive staff time and Board approval and $ 7,500 for a termination that requires extensive staff time and Board approval.

N.J. Admin. Code § 19:31W-1.5

Recodified from 19:31-24.5 56 N.J.R. 807(a), effective 5/6/2024