New Jersey Administrative Code
Title 7 - ENVIRONMENTAL PROTECTION
Chapter 26C - ADMINISTRATIVE REQUIREMENTS FOR THE REMEDIATION OF CONTAMINATED SITES
Subchapter 5 - REMEDIATION FUNDING SOURCE AND FINANCIAL ASSURANCE
Section 7:26C-5.9 - Remediation funding source surcharge

Universal Citation: NJ Admin Code 7:26C-5.9

Current through Register Vol. 56, No. 6, March 18, 2024

(a) A person responsible for conducting the remediation who is required to establish and maintain a remediation funding source pursuant to this subchapter that elects to establish the remediation funding source by one or any combination of the following shall submit to the Department a remediation funding source surcharge pursuant to (b) below:

1. A remediation trust fund pursuant to 7:26C-5.4;

2. An environmental insurance policy pursuant to 7:26C-5.5;

3. A line of credit pursuant to 7:26C-5.6; or

4. A letter of credit pursuant to 7:26C-5.7.

(b) A person responsible for conducting the remediation who is required to establish and maintain a remediation funding source pursuant to this subchapter and who is required to pay a surcharge pursuant to (a) above, shall submit the remediation funding source surcharge to the Department, and shall:

1. Pay, by cashier's or certified check payable to the Treasurer, State of New Jersey, a remediation funding source surcharge in an amount equal to one percent of the amount of the remediation funding source; and

2. Submit the remediation funding source surcharge with the remediation funding source as required in 7:26C-5.2 and annually thereafter on the same date or within 30 days after receipt of an invoice from the Department, whichever date occurs sooner, and until the Department or a licensed site remediation professional issues a final remediation document.

(c) The surcharge is not applicable to the financial assurance established for a remedial action permit.

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