N.J. Admin. Code § 7:28-64.10

Current through Register Vol. 56, No. 24, December 18, 2024

Section 7:28-64.10 - Annual adjustment of fees

(a) Each year the annual fees in Tables 1 and 2 at N.J.A.C. 7:28-64.2will be adjusted by the previous 12-month inflation factor. The inflation factor is calculated from the Consumer Price Index, all urban consumers, U.S. city average (CPI-U), published monthly by the U.S. Department of Labor, Bureau of Labor Statistics. The CPI-U for purposes of calculating the inflation factor shall be the CPI-U for the 12-month period ending May 31. The resulting fee will be rounded up or down to the nearest increment of $ 5.00.

(b) The inflation factor shall be the past year percent change for the United States city average, all items, all urban consumers.

(c) If the inflation factor for a 12-month period is negative, the fees will remain unchanged from the previous year.

(d) The adjusted fees shall be reflected through a notice of administrative change, published in the New Jersey Register; however, the adjusted fees shall be effective on July 1, whether or not a notice of administrative change has been published.

N.J. Admin. Code § 7:28-64.10

Amended by 52 N.J.R. 1267(a), effective 6/15/2020