48:3-106.2 School and Small Business Energy Efficiency Stimulus Program Fund.

327 words·~1 min read·/nj/title-48/chapter-3/48-3-106-2

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

2. a. The Board of Public Utilities shall establish and administer a fund to be known as the School and Small Business Energy Efficiency Stimulus Program Fund for the purpose of providing grants to boards of education and small businesses for the installation of certain HVAC systems and energy efficient and water-conserving appliances to improve air quality and energy efficiency in school districts under the jurisdiction of a board of education and small businesses, including school districts and small businesses in underserved communities. The monies deposited into the program fund shall only be used to support the following programs:

(1)The School and Small Business Ventilation and Energy Efficiency Verification and Repair Program; and

(2)The School and Small Business Noncompliant Plumbing Fixture and Appliance Program.

b. Seventy-five percent of projects funded by the SSBVEEVR Program or SSBNPFA Program shall be allocated for school districts and small businesses located in underserved communities.

c. The board shall begin to solicit applications from boards of education and small businesses for grants made pursuant to this section on or before October 1, 2021 and begin to approve applications for a grant no later than December 1, 2021, subject to the availability of funds.

d. The program fund shall be funded by monies provided to the State from the federal government under the "American Rescue Plan Act of 2021," Pub. L. 117-2, as determined by the board, and shall be allocated as follows:

(1)75 percent of funds for the SSBVEEVR Program; and

(2)25 percent of funds for the SSBNPFA Program.

e. Seventy-five percent of grant funds issued pursuant to this section shall be awarded to school districts and the remaining 25 percent shall be awarded to small businesses.

f. Program grants made pursuant to this section shall provide no more than 75 percent of the cost of projects approved by the board, with the remaining 25 percent covered by non-SSBVEEVR or non-SSBNPFA funding sources, as applicable.

L.2021, c.200, s.2.