58:10B-4 Hazardous Discharge Site Remediation Fund.
26. a. There is established in the New Jersey Economic Development Authority a special, revolving fund to be known as the Hazardous Discharge Site Remediation Fund. Except as provided in section 4 of P.L.2007, c.135 (C.52:27D-130.7), moneys in the remediation fund shall be dedicated for the provision of financial assistance or grants to municipalities, counties, redevelopment entities authorized to exercise redevelopment powers pursuant to section 4 of P.L.1992, c.79 (C.40A:12A-4), and persons, for the purpose of financing remediation activities at sites at which there is, or is suspected of being, a discharge of hazardous substances or hazardous wastes.
b.The remediation fund shall be credited with:
(1)moneys as are appropriated by the Legislature;
(2)moneys deposited into the fund as repayment of principal and interest on outstanding loans made from the fund;
(3)any return on investment of moneys deposited in the fund;
(4)(Deleted by amendment, P.L.2009, c.60);
(5)moneys deposited in the fund as repayment of recoverable grants made by the New Jersey Redevelopment Authority for brownfield redevelopment;
(6)moneys deposited into the fund from cost recovery subrogation actions; and
(7)moneys made available to the authority for the purposes of the fund.
L.1993, c.139, s.26; amended 1997, c.278, s.12; 2005, c.223, s.2; 2007, c.135, s.1; 2009, c.60, s.44.
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Last modified: October 11, 2016