New Jersey § 52:27d-437

§ 52:27d-437.

a. There is hereby established in the department the “Lead Hazard Control Assistance

Fund” hereinafter referred to as the “fund,” which shall be continuing and nonlapsing,

for the purpose of funding loans and grants authorized pursuant to P.L.2003, c. 311 ( C.52:27D-437.1 et al.). Moneys in the fund not immediately required for payment or liquid reserves may be

invested and reinvested by the department in the same manner in which other department

funds may be invested. b. There shall be paid into the fund: (1) moneys deposited into the fund as repayment of principal and interest on outstanding

loans made from the fund; (2) any income earned upon investment of moneys in the fund by the department pursuant

to subsection a. of this section; and (3) any other funds that may be available to the fund through appropriation by the

Legislature or otherwise. c. Moneys in the fund shall be used exclusively for: (1) funding loans and grants made by the department pursuant to section 5 of P.L.2003, c. 311 ( C.52:27D-437.5 ); (2) public education for the prevention of lead poisoning; and (3) defraying the administrative costs of the department in carrying out the purposes

and provisions of P.L.2003, c. 311 ( C.52:27D-437.1 et al.) up to an amount not to exceed 5% of the total moneys appropriated to the

fund during the fiscal year. The department shall determine the amounts to be made available from the fund for

the purposes of grants and loans, respectively, on an annual basis. d. All balances in the Lead Hazard Control Assistance Fund are appropriated for the

purposes of the fund.