New Jersey § 58:10b-6

§ 58:10b-6.

a. Except for moneys deposited in the remediation fund for specific purposes, and

as provided in section 4 of P.L.2007, c. 135 ( C.52:27D-130.7 ), financial assistance and grants from the remediation fund shall be rendered for

the following purposes. A written report shall be sent to the Senate Environment and Energy Committee, and

the Assembly Environment and Solid Waste Committee, or their successors at the end

of each calendar quarter detailing the allocation and expenditures related to the

financial assistance and grants from the fund. (1) Moneys shall be allocated for financial assistance to persons, for remediation

of real property located in a qualifying municipality as defined in section 1 of P.L.1978,

c. 14 ( C.52:27D-178 ); (2) Moneys shall be allocated to: (a) municipalities, counties, or redevelopment

entities authorized to exercise redevelopment powers pursuant to section 4 of P.L.1992, c. 79 ( C.40A:12A-4 ), for: (i) projects in brownfield development areas pursuant to subsection f. of section

27 of P.L.1993, c. 139 ( C.58:10B-5 ), (ii) matching grants up to a cumulative total amount from the fund of $10,000,000 per year of up to 75 percent of the costs of the remedial action for projects involving

the redevelopment of contaminated property for recreation and conservation purposes,

provided that the use of the property for recreation and conservation purposes is

included in the comprehensive plan for the development or redevelopment of contaminated

property, up to 75 percent of the costs of the remedial action for projects involving

the redevelopment of contaminated property for renewable energy generation, or up

to 50 percent of the costs of the remedial action for projects involving the redevelopment

of contaminated property for affordable housing pursuant to P.L.1985, c. 222 ( C.52:27D-301 et al.), (iii) grants for preliminary assessment, site investigation or remedial investigation

of a contaminated site, (iv) financial assistance or grants for the implementation of a remedial action, or (v) financial assistance for remediation activities at sites that have been contaminated

by a discharge of a hazardous substance or hazardous waste, or at which there is an

imminent and significant threat of a discharge of a hazardous substance or hazardous

waste, and the discharge or threatened discharge poses or would pose an imminent and

significant threat to a drinking water source, to human health, or to a sensitive

or significant ecological area; or (b) persons for financial assistance for remediation activities at sites that have

been contaminated by a discharge of a hazardous substance or hazardous waste, or at

which there is an imminent and significant threat of a discharge of a hazardous substance

or hazardous waste, and the discharge or threatened discharge poses or would pose

an imminent and significant threat to a drinking water source, to human health, or

to a sensitive or significant ecological area. Except as provided in subsection f. of section 27 of P.L.1993, c. 139 ( C.58:10B-5 ), financial assistance and grants to municipalities, counties, or redevelopment entities

authorized to exercise redevelopment powers pursuant to section 4 of P.L.1992, c. 79 ( C.40A:12A-4 ) may be made for real property: (1) on which they hold a tax sale certificate;

(2) that they have acquired through foreclosure or other similar means; or (3) that

they have acquired, or, in the case of a county governed by a board of chosen freeholders,

have passed a resolution or, in the case of a municipality or a county operating under

the “Optional County Charter Law,” P.L.1972, c. 154 ( C.40:41A-1 et seq. ), have passed an ordinance or other appropriate document to acquire, by voluntary

conveyance for the purpose of redevelopment, or for recreation and conservation purposes. Financial assistance and grants may only be awarded for real property on which there

has been or on which there is suspected of being a discharge of a hazardous substance

or a hazardous waste. Grants and financial assistance provided pursuant to this paragraph shall be used

for performing preliminary assessments, site investigations, remedial investigations,

and remedial actions on real property in order to determine the existence or extent

of any hazardous substance or hazardous waste contamination, and to remediate the

site in compliance with the applicable health risk and environmental standards on

those properties. No financial assistance or grants for a remedial action shall be awarded until the

municipality, county, or redevelopment entity authorized to exercise redevelopment

powers pursuant to section 4 of P.L.1992, c. 79 ( C.40A:12A-4 ), actually owns the real property, provided that a matching grant for 75 percent

of the costs of a remedial action for a project involving the redevelopment of contaminated

property for recreation and conservation purposes, or a matching grant for 50 percent

of the costs of a remedial action for a project involving the redevelopment of contaminated

property for affordable housing pursuant to P.L.1985, c. 222 ( C.52:27D-301 et al.) may be made to a municipality, county, or redevelopment entity authorized

to exercise redevelopment powers pursuant to section 4 of P.L.1992, c. 79 ( C.40A:12A-4 ) even if it does not own the real property and a grant may be made to a municipality,

county, or redevelopment entity authorized to exercise redevelopment powers pursuant

to section 4 of P.L.1992, c. 79 ( C.40A:12A-4 ) for a remediation in a brownfield development area pursuant to subsection f. of

section 27 of P.L.1993, c. 139 ( C.58:10B-5 ) even if the entity does not own the real property. No grant shall be awarded for a remedial action for a project involving the redevelopment

of contaminated property for recreation or conservation purposes unless the use of

the property is preserved for recreation and conservation purposes by conveyance of

a development easement, conservation restriction or easement, or other restriction

or easement permanently restricting development, which shall be recorded and indexed

with the deed in the registry of deeds for the county. No grant shall be awarded pursuant to this paragraph to a municipality, a county,

or a redevelopment entity authorized to exercise redevelopment powers pursuant to

section 4 of P.L.1992, c. 79 ( C.40A:12A-4 ) unless that entity has adopted by ordinance or resolution a comprehensive plan specifically

for the development or redevelopment of contaminated or potentially contaminated real

property in that municipality or the entity can demonstrate its commitment to the

authority that the subject real property will be developed or redeveloped within a

three-year period from the completion of the remediation. Until adoption of the criteria required pursuant to paragraph (8) of subsection

a. of section 30 of P.L.1993, c. 139 ( C.58:10B-8 ), the authority shall use the criteria provided in this paragraph in determining

the award of grants from the remediation fund; (3) Moneys shall be allocated for financial assistance to persons who voluntarily

perform a remediation of a hazardous substance or hazardous waste discharge; (4) (Deleted by amendment, P.L.2017, c. 353 ) (5) Moneys shall be allocated for (a) financial assistance to persons who own and

plan to remediate an environmental opportunity zone for which an exemption from real

property taxes has been granted pursuant to section 5 of P.L.1995, c. 413 ( C.54:4-3.154 ), or (b) matching grants for up to 25 percent of the project costs to qualifying

persons, municipalities, counties, and redevelopment entities authorized to exercise

redevelopment powers pursuant to section 4 of P.L.1992, c. 79 ( C.40A:12A-4 ), who propose to perform a remedial action for the implementation of an unrestricted

use remedial action except that no grant awarded pursuant to this paragraph may exceed

$250,000; and (6) At least 30 percent of the moneys in the remediation fund shall be allocated for

grants to a municipality, county, or redevelopment entity authorized to exercise redevelopment

powers pursuant to section 4 of P.L.1992, c. 79 ( C.40A:12A-4 ) for the preliminary assessment, site investigation, remedial investigation, or remedial

action of a site, not located in a brownfield development area, that has been contaminated

by a discharge or a suspected discharge of a hazardous substance or hazardous waste

as authorized in this subsection. The remainder of the moneys in the remediation fund shall be allocated for any of

the purposes authorized in this section. For the purposes of paragraph (5) of this subsection, “ qualifying persons ” means any person who has a net worth of not more than $2,000,000 and “ project costs ” means that portion of the total costs of a remediation that is specifically to implement

an unrestricted use remedial action. b. Loans issued from the remediation fund shall be for a term not to exceed ten years,

except that upon the transfer of ownership of any real property for which the loan

was made, the unpaid balance of the loan shall become immediately payable in full. The unpaid balance of a loan for the remediation of real property that is transferred

by devise or succession shall not become immediately payable in full, and loan repayments

shall be made by the person who acquires the property. Loans to municipalities, counties, and redevelopment entities authorized to exercise

redevelopment powers pursuant to section 4 of P.L.1992, c. 79 ( C.40A:12A-4 ), shall bear an interest rate equal to 2 points below the Federal Discount Rate at

the time of approval or at the time of loan closing, whichever is lower, except that

the rate shall be no lower than 3 percent. All other loans shall bear an interest rate equal to the Federal Discount Rate at

the time of approval or at the time of the loan closing, whichever is lower, except

that the rate on such loans shall be no lower than five percent. Financial assistance and grants may be issued for up to 100 percent of the estimated

applicable remediation cost, except that the cumulative maximum amount of financial

assistance which may be issued to a person, in any calendar year, for one or more

properties, shall be $500,000. Financial assistance and grants to any one municipality, county, or redevelopment

entity authorized to exercise redevelopment powers pursuant to section 4 of P.L.1992, c. 79 ( C.40A:12A-4 ) may not exceed $3,000,000 in any calendar year except as provided in subsection f. of section 27 of P.L.1993, c. 139 ( C.58:10B-5 ). Grants to a municipality, county, or redevelopment entity authorized to exercise

redevelopment powers pursuant to section 4 of P.L.1992, c. 79 ( C.40A:12A-4 ) may be for up to 100 percent of the total costs of the preliminary assessment, site

investigation, or remedial investigation subject to the provisions of section 5 of P.L.2017, c. 353 ( C.58:10B-6.2 ). Grants to a municipality, a county, or a redevelopment entity authorized to exercise

redevelopment powers pursuant to section 4 of P.L.1992, c. 79 ( C.40A:12A-4 ) may not exceed 75 percent of the total costs of the remedial action at any one site. Repayments of principal and interest on the loans issued from the remediation fund

shall be paid to the authority and shall be deposited into the remediation fund. c. No person, other than a qualified person planning to use an unrestricted use remedial

action for the cost of the remedial action, a person performing a remediation in an

environmental opportunity zone, or a person voluntarily performing a remediation,

shall be eligible for financial assistance from the remediation fund to the extent

that person is capable of establishing a remediation funding source for the remediation

as required pursuant to section 25 of P.L.1993, c. 139 ( C.58:10B-3 ). d. The authority may use a sum that represents up to 2 percent of the moneys issued

as financial assistance or grants from the remediation fund each year for administrative

expenses incurred in connection with the operation of the fund and the issuance of

financial assistance and grants. e. Prior to March 1 of each year, the authority shall submit to the Senate Environment

and Energy Committee and the Assembly Environment and Solid Waste Committee, or their

successors, a report detailing the amount of money that was available for financial

assistance and grants from the remediation fund for the previous calendar year, the

amount of money estimated to be available for financial assistance and grants for

the current calendar year, the amount of financial assistance and grants issued for

the previous calendar year and the category for which each financial assistance and

grant was rendered, the amount of remediation costs expended for each site for the

previous calendar year for which financial assistance or a grant has been approved

and the balance remaining on each financial assistance or grant, and any suggestions

for legislative action the authority deems advisable to further the legislative intent

to facilitate remediation and promote the redevelopment and use of existing industrial

sites.