New Jersey § 48:19-31
Full text of New Jersey New Jersey Statutes § 48:19-31, with citation guidance and answers to common questions.
§ 48:19-31.
a. (1) The board shall authorize the implementation of a RESIC by a utility to recover
costs associated with RESIC-eligible projects through an approved RESIC rate. (2) A utility that offers more than one regulated service may file a joint petition
to establish a RESIC that includes RESIC-eligible projects for multiple regulated
services or separate petitions to establish a separate RESIC for water and wastewater
services, respectively. If a utility files separate petitions, each RESIC approved by the board shall be
subject to its own respective RESIC-cap. b. To obtain authorization to implement a RESIC, the utility shall submit a foundational
filing to the board. Whether filed separately or concurrently with a base rate case, the utility shall
submit the following information with the foundational filing: (1) projected annual capital expenditures on RESIC-eligible projects for a three-year
period, identified by major categories of expenditures; (2) actual annual capital expenditures on RESIC-eligible projects for the previous
three years, identified by major categories of expenditures; (3) an engineering evaluation and report identifying the specific projects to be included
in the proposed RESIC, with descriptions of project objectives, detailed cost estimates,
and the estimated in-service dates for each project; (4) vintage, condition, or other similarly relevant and reasonably available information
about the eligible infrastructure that is being rehabilitated or replaced, if applicable; (5) a forecast of RESIC-eligible capital expenditures for a three-year period setting
forth annual planned capital expenditures; (6) the maximum dollar amount, in aggregate, the utility seeks to recover through
the RESIC under the foundational filing; and (7) the estimated rate impact of the proposed RESIC on customers of the utility. c. In considering a utility's foundational filing in support of a RESIC, the board
may require the utility to provide any supplemental information that the board deems
necessary to evaluate the utility's foundational filing. d. Before the board approves a RESIC, the board shall conduct a public hearing in
the utility's service territory, notice of which shall contain the maximum dollar
amount the utility seeks to recover through its RESIC and the utility's estimated
rate impact. e. A RESIC foundational filing shall not be approved unless a utility has had its
base rates set by the board within the past three years and any prior RESIC rate was
reset to zero through the current or prior base rate case. After a utility's RESIC rate has been reset to zero, a new foundational filing shall
be approved before a new RESIC rate recovery may occur. A RESIC foundational filing may be approved concurrently with the setting of new
base rates. f. The board shall act on each foundational filing no later than 120 calendar days
after receiving the completed filing, except that if the foundational filing is submitted
concurrent with a base rate case or during the pendency of a base rate case, the board
may delay action until the effective date of the board's approval of the base rate
case.
Frequently Asked Questions About New Jersey § 48:19-31
What does New Jersey Statutes § 48:19-31 cover?
Section 48:19-31 is part of the New Jersey Statutes, the codified statutory law of New Jersey. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite New Jersey § 48:19-31?
A common citation format is "New Jersey Statutes § 48:19-31" (New Jersey). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of New Jersey law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the New Jersey official source linked on this page or consult a licensed New Jersey attorney.
How does New Jersey § 48:19-31 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in New Jersey can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in New Jersey.