N.J. Admin. Code § 2:50-4.3 - Adjustment of the fuel adjustment add-on for Class I utilization

(a) By the 10th day of each month, all licensees or their designees shall report, on forms provided by the Department for such purposes, the following information:

1. The total volume of New Jersey milk purchased for the preceding month;

2. The total amount paid to New Jersey producers pursuant to N.J.A.C. 2:50-4.2;

3. The percent of Class I utilization of the plant for the preceding month; and

4. Such other information as the Director may deem necessary for the proper calculation of the amount of the fuel adjustment add-on required to be paid by a licensee.

(b) The Department will calculate the amount of fuel adjustment add-on required to be paid by the licensee based on its Class I utilization of all New Jersey-produced milk received, in accordance with the following:

1. The volume of milk actually used as Class I utilization milk will be multiplied by the fuel adjustment add-on required to be paid on Class I utilization milk; and

2. The figure derived at (b)1 above will be subtracted from the amount of the fuel adjustment add-on actually paid to producers.

(c) If the licensee has underpaid, it will be required to pay the difference to the Department, or its designee. If the amount the licensee paid was an overpayment, it will receive a reimbursement from the Department, or its designee, for the amount overpaid.

(d) The Department, or its designee, must receive reimbursements from licensees who have underpaid based on the prior month's calculations no later than the 15th of each month. Licensees who have overpaid will receive reimbursements from the Department, or its designee, by the 20th of each month.

Notes

N.J. Admin. Code § 2:50-4.3

Adopted by 54 N.J.R. 1704(a), effective 9/6/2022