N.J. Admin. Code § 7:22-4.8 - Eligibility for State and Federal funding

Current through Register Vol. 54, No. 7, April 4, 2022

(a) The Department, in conjunction with the Trust, shall develop and submit to the Legislature for the forthcoming State fiscal year a priority system and project priority list as required by the Trust Act and the Stormwater Management and Combined Sewer Overflow Abatement Bond Act, which shall be based, in all substantial respects, upon the applicable sections of the Priority System, Intended Use Plan and Project Priority List.
(b) If a project sponsor is awarded a Trust loan in addition to funding from any other Federal or State grant or loan, the total amount of such other funding and the Trust loan shall not exceed the allowable costs of the project. If a project sponsor is awarded funding from any other Federal or State grant or loan after the Trust has awarded a Trust loan to the project sponsor, the Trust shall reduce the loan in the amount of such other funding. If a project sponsor is awarded funding from any other Federal or State grant or loan after the Trust has made disbursement from the Trust loan, the project sponsor shall, within 60 days of notice of the award of such other funding, reimburse the Trust in the amount of such other funding. If both a Trust loan (pursuant to this subchapter) and a Fund loan (pursuant to N.J.A.C. 7:22-3 ) are received in combination with funding from any other Federal or State grant or loan, the Fund and Trust loans will be proportionally reduced.

Notes

N.J. Admin. Code § 7:22-4.8
Amended by R.1988 d.210, effective 5/16/1988.
See: 19 New Jersey Register 1600(a), 20 New Jersey Register 1076(a).
Substantially deleted text in (b) and (c).
Amended by R.1992 d.42, effective 1/21/1992.
See: 23 New Jersey Register 3282(a), 24 New Jersey Register 246(a).
New (a); old (a) recodified as (b) and (b) and (c) deleted.
Amended by R.1993 d.242, effective 6/7/1993.
See: 24 New Jersey Register 4310(b), 25 New Jersey Register 2271(a).
Modified to indicate that a project which receives financial assistance from the United States Department of Agriculture's Farmers Home Administration for the same scope of work for which the project receives a Trust loan will have its Trust loan share reduced by an amount equal to the amount of financial assistance provided by the Farmer's Home Administration. If both Fund and Trust loans are received, both loans will be proportionally reduced.
Amended by R.1995 d.494, effective 9/5/1995.
See: 27 New Jersey Register 1536(a), 27 New Jersey Register 3403(a).
Amended by R.1998 d.407, effective 8/3/1998.
See: 30 New Jersey Register 1144(a), 30 New Jersey Register 2863(a).
Rewrote (b).

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