N.J. Admin. Code § 7:27D-2.1

Current through Register Vol. 56, No. 21, November 4, 2024

Section 7:27D-2.1 - Procedure for development of a strategic funding plan

(a) The EDA, the BPU, and the Department shall coordinate the use of each agency's allocation from the Global Warming Solutions Fund by periodically developing a strategic funding plan. The agencies shall develop initiatives in a strategic funding plan that will assist in the selection of eligible projects and programs to receive funding from the Global Warming Solutions Fund.

(b) Each strategic funding plan shall identify the initiative(s) that each agency will sponsor during the corresponding strategic funding period, the objective(s) considered critical or beneficial to each initiative, and the information and materials the agencies relied upon in their selection of initiatives.

(c) Each strategic funding plan published subsequent to the first strategic funding plan shall also contain information about each project and program that has received funding from the Global Warming Solutions Fund, to the extent that such information is available and has not been reported in an earlier strategic funding plan. This information shall include, but not be limited to:

1. A description of the project or program;

2. The amount of money earmarked by the agency to fund the program or project, as well as the type and amount of economic aid awarded;

3. The sponsored initiative corresponding to the project or program;

4. To the extent feasible, an account of the measurable benefits the project or program reported for each critical objective it was predicted to advance; and

5. The status of the project or program.

(d) The agencies shall develop the first strategic funding plan and publish it on their websites NO[x] later than 30 days after the certification of the results of the first CO[2] allowance auction that New Jersey participates in pursuant to N.J.A.C. 7:27C-11, COAllowance Auctions. Thereafter, the agencies shall periodically develop and publish on their websites a new strategic funding plan, not less than once every three years.

(e) Before publishing a strategic funding plan, the agencies shall host at least one public meeting with representatives from all of the agencies. Each agency shall also host at least one additional public meeting with representatives from their own agency.

(f) The Board or Commissioner of any one of the agencies may compel the initiation of the process to develop and publish a new strategic funding plan at any time by writing to the Board or Commissioner of the other two agencies. The writing shall demonstrate a need to address newly discovered information that will have a significant impact upon the initiatives, projects, or programs in the current strategic funding plan. New information may include, but need not be limited to, changes in funding sources or levels, State or national economic conditions, environmental degradation or climate change, or technology.

(g) The development of each strategic funding plan will be the product of a coordinated effort among the EDA, the BPU, and the Department. Notwithstanding the coordinated effort to develop a strategic funding plan, each agency shall employ an independent, agency-specific process to select the eligible programs and projects to be funded during the corresponding strategic funding period.

N.J. Admin. Code § 7:27D-2.1

Adopted by 51 N.J.R. 1043(a), effective 6/17/2019