N.J. Admin. Code § 7:26C-5.9

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

Section 7:26C-5.9 - Remediation funding source surcharge

(a) A person responsible for conducting the remediation who is required to establish and maintain a remediation funding source pursuant to this subchapter that elects to establish the remediation funding source by one or any combination of the following shall submit to the Department a remediation funding source surcharge pursuant to (b) below:

1. A remediation trust fund pursuant to 7:26C-5.4;

2. An environmental insurance policy pursuant to 7:26C-5.5;

3. A line of credit pursuant to 7:26C-5.6; or

4. A letter of credit pursuant to 7:26C-5.7.

(b) A person responsible for conducting the remediation who is required to establish and maintain a remediation funding source pursuant to this subchapter and who is required to pay a surcharge pursuant to (a) above, shall submit the remediation funding source surcharge to the Department, and shall:

1. Pay, by cashier's or certified check payable to the Treasurer, State of New Jersey, a remediation funding source surcharge in an amount equal to one percent of the amount of the remediation funding source; and

2. Submit the remediation funding source surcharge with the remediation funding source as required in 7:26C-5.2 and annually thereafter on the same date or within 30 days after receipt of an invoice from the Department, whichever date occurs sooner, and until the Department or a licensed site remediation professional issues a final remediation document.

(c) The surcharge is not applicable to the financial assurance established for a remedial action permit.

N.J. Admin. Code § 7:26C-5.9

Amended by R.2012 d.095, effective 5/7/2012.
See: 43 N.J.R. 1935(a), 44 N.J.R. 1339(b).
Rewrote (b)2; and added (c).