N.J. Stat. § 13:1E-116.6

Current through L. 2024, c. 62.
Section 13:1E-116.6 - Municipal Landfill Closure and Remediation Fund
a. There is created in the Department of the Treasury a special fund to be known as the Municipal Landfill Closure and Remediation Fund. Moneys in the fund shall be dedicated to the purpose of reimbursing a developer who enters into a redevelopment agreement pursuant to section 3 of P.L. 1996, c. 124(C.13:1E-116.3) and is certified for reimbursement pursuant to section 4 of P.L. 1996, c. 124(C.13:1E-116.4) in an amount equal to 75% of the closure and remediation costs of the municipal solid waste landfill. A special account within the fund shall be created for each developer upon approval of a certification pursuant to section 4 of P.L. 1996, c. 124(C.13:1E-116.4). The Legislature shall annually appropriate the entire balance of the fund for the purposes of reimbursement of closure and remediation costs as provided in section 7 of P.L. 1996, c. 124(C.13:1E-116.7).
b. The fund shall be credited with one half of all taxes due and payable pursuant to the "Sales and Use Tax Act," P.L. 1966, c.30 (C.54:32B-1 et seq.) by any person required to collect the tax at the site of a redevelopment project which is the subject of a redevelopment agreement with the State pursuant to section 3 of P.L. 1996, c. 124(C.13:1E-116.3) until the amount credited equals 75% of the dollar amount of the closure and remediation costs actually and reasonably incurred by the developer, as certified to the director by the developer.

N.J.S. § 13:1E-116.6

L. 1996, c. 124, s. 6.