N.J. Admin. Code § 7:27D-2.2

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

Section 7:27D-2.2 - Selection of strategic funding plan initiatives

(a) In every strategic funding plan, the agencies shall sponsor initiatives that, collectively, advance the following six objectives:

1. Result in a net reduction in greenhouse gases in the State or in greenhouse gas emissions from electricity produced out of the State, but consumed in the State, or net sequestration of carbon;

2. Result in significant reductions in greenhouse gas emissions relative to the cost of the project or program and the reduction of impacts on ratepayers attributable to the implementation of N.J.S.A. 26:2C-45et seq., and the ability of the project or program to significantly contribute to achievement of the State's 2050 limit established pursuant to the Global Warming Response Act, relative to the cost of the project or program;

3. Reduce energy use;

4. Be directly responsive to the negative effects on human health and the environment in communities that are disproportionately impacted by the effects of environmental degradation and climate change;

5. Be directly responsive to the recommendations submitted by the Department to the Legislature pursuant to section 6 of the Global Warming Response Act; and

6. Provide co-benefits to the State.

(b) For every initiative identified in a strategic funding plan, the agencies shall rank the importance of each objective as either critical or beneficial.

(c) Every initiative sponsored in a strategic funding plan shall have at least one objective ranked as critical.

(d) Each of the objectives shall be ranked as critical to at least one initiative sponsored in a strategic funding plan.

(e) To inform their selection of the initiatives and ranking of the objectives in a strategic funding plan, the agencies shall coordinate a review and evaluation of relevant materials and information, including, but not limited to, the level of greenhouse gas emissions by sector, the level of anticipated funding from the CO[2] allowance auctions, existing technology, resilience planning and management, input from public meetings, State plans, and action plans.

N.J. Admin. Code § 7:27D-2.2

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