New Jersey § 48:19-35
Full text of New Jersey New Jersey Statutes § 48:19-35, with citation guidance and answers to common questions.
§ 48:19-35.
a. The revenues to be recovered through the RESIC rate shall be calculated as follows: (1) the eligible net investment shall equal the eligible investment, less the per-book
accumulated depreciation amount recorded for the eligible projects, and adjusted for
the recorded accumulated deferred income tax amount for the eligible projects; (2) the eligible net investment shall be multiplied by the pre-tax adjusted weighted
average cost of capital, plus depreciation expense, the sum of which shall be multiplied
by the revenue factor, plus or minus the RESIC under-recovery or over-recovery amount,
the product of which shall equal the RESIC revenue requirement recovery amount; and (3) the RESIC revenue requirement recovery amount shall be divided by the number of
meters and meter equivalents, weighted by meter capacity ratio, the product of which
shall equal the RESIC rate per customer. b. (1) The revenues to be recovered through the RESIC rate shall not exceed the RESIC-cap,
which amount shall not exceed a maximum percent, as set forth in paragraph (2) of
this subsection, of the utility's total annual revenue, as established in the utility's
most recent base rate decision, and such revenues shall be adjusted in accordance
with a purchased water or wastewater adjustment clause approved by the board pursuant
to chapter 9 of Title 14 of the New Jersey Administrative Code . (2) The RESIC-cap shall not exceed the following amounts, subject to the methodology
set forth in paragraph (1) of this subsection: (a) at the time of the utility's initial foundational filing, two and one-half percent
of the utility's total annual revenue; (b) at the time of the utility's second foundational filing, three and one-half percent
of the utility's total annual revenue; (c) at the time of the utility's third foundational filing, four and one-half percent
of the utility's total annual revenue; and (d) for each foundational filing thereafter, five percent of the utility's total annual
revenue.
Frequently Asked Questions About New Jersey § 48:19-35
What does New Jersey Statutes § 48:19-35 cover?
Section 48:19-35 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 § 48:19-35?
A common citation format is "New Jersey Statutes § 48:19-35" (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 § 48:19-35 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.