N.J. Admin. Code § 5:80-33.36

Current through Register Vol. 56, No. 21, November 4, 2024

Section 5:80-33.36 - Confidentiality of tax credit applications and information

(a) Applications and all supporting documents submitted to NJHMFA for tax credit reservations shall be confidential, non-public records until awards are announced by NJHMFA. Thereafter, applications and all supporting documents submitted to NJHMFA for tax credit reservations shall be deemed to be public records, except the documents set forth at (c) below shall remain confidential, non-public records.

(b) Applications and all supporting documents submitted to NJHMFA for volume cap tax credits shall be confidential, non-public records until NJHMFA has issued a determination letter. Thereafter, applications and all supporting documents submitted to NJHMFA for volume cap tax credits shall be deemed to be public records, except the documents set forth in item (c) below shall remain confidential, non-public records.

(c) To the extent they constitute "trade secrets" or "proprietary commercial or financial information" within the meaning of the New Jersey Open Public Records Act, N.J.S.A. 47:1A-1 et seq., the following documents are confidential, non-public records:

1. Financing information and syndication documents submitted in compliance with 5:80-33.12(c)5. However, an applicant's certification of the extent of Federal, State and local subsidies shall be a public record;

2. Funding commitments and other documents submitted in compliance with 5:80-33.12(c)6;

3. Documents and other information, including 15-year cash flow pro forma, submitted in compliance with N.J.A.C. 5:80-33.12(c)7;

4. Financing information and Breakdown of Costs and Basis submitted in support of the application needs analysis described at 5:80-33.21;

5. Data submitted for comparable projects pursuant to 5:80-33.12(c)7iii; and

6. Third-party reports, including, but not limited to, market studies, appraisals, cost certifications, and economic feasibility analyses.

(d) Information or documents submitted or prepared with respect to binding commitments, carryover applications, placed in service allocations, and IRS Form 8609 shall be confidential and shall be disclosed only as authorized by Section 6103 of the Code.

(e) Information submitted to NJHMFA by or on behalf of a project owner with respect to compliance monitoring and reports, compliance notices, and IRS Forms 8823 prepared by NJHMFA with respect to monitoring the compliance of any project shall be confidential and shall be disclosed only as authorized by Section 6103 of the Code.

N.J. Admin. Code § 5:80-33.36

Recodified from 5:80-33.36 and amended by R.1997 d.284, effective 7/7/1997.
See: 29 N.J.R. 1441(a), 29 N.J.R. 2818(a).
Substantially amended (a); in (a)1 and 2, amended N.J.A.C. reference; rewrote (b); and added (c). Former section "Tax exempt financed projects" was recodified to N.J.A.C. 5:80-33.11(a)17.
Recodified from N.J.A.C. 5:80-33.35 and amended by R.1998 d.279, effective 6/1/1998.
See: 30 N.J.R. 1132(a), 30 N.J.R. 1978(a).
In (a)1 and 2, changed N.J.A.C. references.
Recodified from N.J.A.C. 5:80-33.40 and amended by R.1999 d.120, effective 4/5/1999.
See: 31 N.J.R. 122(a), 31 N.J.R. 860(a).
In (a), inserted a reference to cancellation of the Final Cycle in the first sentence, and changed N.J.A.C. references in 1 and 2. Former N.J.A.C. 5:80-33.38, Inspection, recodified to N.J.A.C. 5:80-33.36.
Amended by R.2000 d.132, effective 3/20/2000.
See: 32 N.J.R. 191(a), 32 N.J.R. 1065(a).
In (a)1, changed N.J.A.C. reference.
Amended by R.2001 d.170, effective 5/21/2001.
See: 33 N.J.R. 932(a), 33 N.J.R. 1573(b).
Added (a)3 and 4.
Recodified from N.J.A.C. 5:80-33.38 and amended by R.2003 d.300, effective 7/21/2003.
See: 35 N.J.R. 1616(a), 35 N.J.R. 3298(b).
In (a), 1 through 4 amended N.J.A.C. reference; in (b), deleted "forward" after "binding". Former N.J.A.C. 5:80-33.36, NJHMFA review and inspection, recodified to N.J.A.C. 5:80-33.34.
Administrative correction.
See: 36 N.J.R. 1776(a).
Amended by R.2006 d.112, effective 3/20/2006.
See: 37 N.J.R. 3879(a), 38 N.J.R. 1432(a).
Rewrote the section.
Amended by R.2008 d.133, effective 5/19/2008.
See: 40 N.J.R. 839(a), 40 N.J.R. 2429(b).
In (c)3, deleted "and" from the end; in (c)4, substituted "; and" for a period at the end; and added (c)5.
Amended by R.2009 d.154, effective 5/4/2009.
See: 41 N.J.R. 917(a), 41 N.J.R. 1994(a).
Rewrote the introductory paragraph of (c).
Amended by R.2013 d.086, effective 6/17/2013.
See: 45 N.J.R. 530(a), 45 N.J.R. 1511(a).
In (c)4, deleted "and" at the end; in (c)5, substituted "; and" for a period at the end; and added (c)6.

Amended by 56 N.J.R. 343(b), effective 3/4/2024