Creation; use of money; payment of claims; acceptance of gifts, appropriations, contributions, grants and bequests.
1. The Fund for Brownfield Projects is hereby created in the State Treasury as a revolving fund, to be administered by the Division.
2. Money in the Fund may be used only to carry out brownfield projects authorized pursuant to the Brownfields Restoration Act. Interest and income earned on the money in the Fund must be credited to the Fund. Money remaining in the Fund at the end of a fiscal year does not revert to the State General Fund, and the balance in the Fund for Brownfield Projects must be carried forward.
3. All payments reimbursing the cost of cleanups for brownfield projects, including interest, must be deposited in the State Treasury for credit to the Fund.
4. Claims against the Fund must be paid as other claims against the State are paid.
5. The Division may accept gifts, appropriations, contributions, grants and bequests of money from any public or private sources. Money so accepted must be deposited in the State Treasury for credit to the Fund and may be used to match the federal grant.
Last modified: February 26, 2006