18A:71B-42.1 One-time grant; rules.
159 words·~1 min read·
/nj/title-18a/chapter-71b/18a-71b-42-1·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
2. a. A NJBEST account when it is initially opened by a taxpayer with gross income of $75,000 or less shall be eligible for a one-time grant of up to $750 in a dollar-for-dollar match of the initial deposit to the account.
b. Notwithstanding the provisions of the "Administrative Procedure Act," P.L.1968, c.410 (C.52:14B -1 et seq.), to the contrary, the authority may adopt, immediately upon filing with the Office of Administrative Law, rules that the authority deems necessary for the appropriate administration and implementation of the provisions of this section, including, a minimum length of time for participation in the NJBEST program in order to maintain eligibility for the credit established pursuant to this section, which rules shall be effective for a period not to exceed 360 days from the date of the filing.
The authority shall thereafter amend, adopt, or readopt the rules in accordance with the requirements of P.L.1968, c.410 (C.52:14B-1 et seq.).
L.2021, c.128, s.2.