reglab/statecodes huggingface dataset:
2023 New Jersey Revised Statutes › Title 18A - Education › Section 18A:71C-77 - Definitions.

18A:71C-77 Definitions.
4. As used in sections 5 through 8 of this act:
"Authority" means the Higher Education Student Assistance Authority established pursuant to N.J.S.18A:71A-3.
"Eligible tuition expenses" means tuition expenses that were incurred by a program participant in attending an accredited master's degree or Ph.D. program in science, technology, engineering, or mathematics or that were incurred by a program participant in the completion of 30 credits in a coherent sequence of courses in science, technology, engineering, or mathematics, and which were not covered by any grants or scholarships.
"Program" means the tuition reimbursement program established pursuant to section 5 of this act for teachers who acquire a master's degree or Ph.D. in science, technology, engineering, or mathematics or who complete 30 credits in a coherent sequence of courses in science, technology, engineering, or mathematics.
"Program participant" means a teacher who contracts with the authority to teach STEM classes in a public school following the completion of a master's degree or Ph.D. program in science, technology, engineering, or mathematics or following the completion of 30 credits in a coherent sequence of courses in science, technology, engineering, or mathematics, in return for tuition reimbursement provided under the program.
L.2019, c.401, s.4.
2023 New Jersey Revised Statutes › Title 18A - Education › Section 18A:71C-78 - Tuition reimbursement program for certain STEM teachers in public schools.

18A:71C-78 Tuition reimbursement program for certain STEM teachers in public schools.
5. a. There is established in the Higher Education Student Assistance Authority a tuition reimbursement program for teachers of science, technology, engineering, or mathematics (STEM) in the State. The program shall provide reimbursement for a portion of the eligible tuition expenses incurred by the participant in completing a master's degree or Ph.D. program in science, technology, engineering, or mathematics or in completing 30 credits in a coherent sequence of courses in science, technology, engineering, or mathematics. The annual amount of State funds appropriated to the tuition reimbursement program shall not exceed $500,000. The authority shall notify the Legislature when the funds have been fully expended or committed.
b. A program participant shall enter into a contract with the authority for a specified four-year period of service in which the participant agrees to teach STEM classes in a public school in the State following the participant's completion of a master's degree or Ph.D. program in science, technology, engineering, or mathematics or the completion of 30 credits in a coherent sequence of courses in science, technology, engineering, or mathematics. The agreement shall specify the program participant's dates of required service and the total amount of reimbursement of eligible tuition expenses to be received by the participant in return for service.
c. The tuition reimbursement for a program participant shall equal 25 percent of the participant's eligible tuition expenses, up to $5,000, in return for each full school year of teaching STEM classes under the program. The total tuition reimbursement amount for a program participant, for four full school years of service, shall not exceed $20,000 of the participant's eligible tuition expenses. A teacher shall be required to complete four full school years of service in order to be eligible to receive tuition reimbursement under the program.
d. The authority shall advertise the availability of the program and engage in outreach activities with potential participants.
L.2019, c.401, s.5.
2023 New Jersey Revised Statutes › Title 18A - Education › Section 18A:71C-79 - Eligibility for tuition reimbursement program.

18A:71C-79 Eligibility for tuition reimbursement program.
6. To be eligible to participate in the tuition reimbursement program established pursuant to section 5 of this act, an applicant shall:
a. hold a bachelor's degree;
b. have successfully completed, or be enrolled in, a master's degree or Ph.D. program in science, technology, engineering, or mathematics or have successfully completed, or be enrolled in, 30 credits in a coherent sequence of courses in science, technology, engineering, or mathematics;
c. apply for the tuition reimbursement program within one year of completing a master's degree or Ph.D. program or 30 credits in a coherent sequence of courses in science, technology, engineering, or mathematics; and
d. agree to teach STEM classes at a public school in New Jersey for four full school years in return for the tuition reimbursement provided under the program.
L.2019, c.401, s.6.
2023 New Jersey Revised Statutes › Title 18A - Education › Section 18A:71C-80 - Adherence to performance standards.

18A:71C-80 Adherence to performance standards.
7. A program participant, as a condition of participation, shall be required to adhere to performance standards established by the authority. The standards shall include, but not be limited to, requirements that a program participant:
a. maintains an appropriate certificate to teach in the State;
b. remains current with payments on any student loans; and
c. reports to the authority on a form and in a manner prescribed by the authority, and attested to by the public school, on the program participant's performance of teaching services rendered prior to reimbursement of tuition under the program.
L.2019, c.401, s.7.
2023 New Jersey Revised Statutes › Title 18A - Education › Section 18A:71C-81 - Annual report to Governor, Legislature.

18A:71C-81 Annual report to Governor, Legislature.
8. The authority shall annually submit a report on the tuition reimbursement program established pursuant to section 5 of this act to the Governor, and to the Legislature pursuant to section 2 of P.L.1991, c.164 (C.52:14-19.1). The report shall be submitted no later than July 1 of each year and shall include, but not be limited to, information on: the total number of program participants; the number of program participants entering the program in that year; a profile of the program participants, including demographic information, the school district in which the participant is employed and the school in which the participant teaches, and the institution of higher education from which the participant received a degree; the average annual tuition reimbursement amount and the four-year average tuition reimbursement amount of program participants; and the number of applicants who were denied acceptance into the program, including the number who were denied due to a lack of program funding.
L.2019, c.401, s.8.
2023 New Jersey Revised Statutes › Title 18A - Education › Section 18A:71C-82 - Rules, regulations.

18A:71C-82 Rules, regulations.
9. The authority, in consultation with the Department of Education, shall adopt pursuant to the provisions of the "Administrative Procedure Act," P.L.1968, c.410 (C.52:14B-1 et seq.), rules and regulations necessary to effectuate the purposes of this act.
L.2019, c.401, s.9.
2023 New Jersey Revised Statutes › Title 18A - Education › Section 18A:71C-83 - Definitions.

18A:71C-83 Definitions.
1. As used in this act:
"Authority" means the Higher Education Student Assistance Authority established pursuant to N.J.S.18A:71A-3.
"Low-performing school" means any public school that meets the criteria of paragraph (1) or paragraph (2):
(1) among all students in that school to whom a State assessment was administered, the sum of the percent of students scoring in the not-yet-meeting expectations and partially meeting expectations categories in both the language arts and mathematics subject areas of the State assessments exceeded 40% in each of the prior two school years; or
(2) among all students in that school to whom a State assessment was administered, the sum of the percent of students scoring in the not-yet-meeting expectations and partially meeting expectations categories in either the language arts or mathematics subject areas of the State assessment exceeded 65% in each of the prior two school years.
(3) A school shall continue to be designated a low-performing school until such time that the sum of the percent of students scoring in the not-yet-meeting expectations and partially meeting expectations categories in both the language arts and mathematics subject areas of the State assessments is less than or equal to the sum of the Statewide percent of students scoring in the not-yet-meeting expectations and partially meeting expectations categories on the corresponding Statewide assessments.
"High-need field" means a subject area or field of expertise in which there is a shortage of qualified teachers in the State as determined by the Department of Education. The department shall reassess its designation of high-need fields at least every five years.
"Program participant" means an undergraduate student borrower under the New Jersey College Loans to Assist State Students (NJCLASS) Loan Program established pursuant to N.J.S.18A:71C-21 who, following the effective date of this act, is initially hired by a school district to work as a teacher in a high-need field in a low-performing school, and who has executed a contract with the authority for participation in the loan redemption program. A program participant shall be a certified teacher and a resident of New Jersey.
L.2021, c.384, s.1.
2023 New Jersey Revised Statutes › Title 18A - Education › Section 18A:71C-85 - Program report submission to Governor, Legislature.

18A:71C-85 Program report submission to Governor, Legislature.
3. The authority shall annually submit a report on the program to the Governor, and to the Legislature pursuant to section 2 of P.L.1991, c.164 (C.52:14-19.1). The report shall be submitted no later than July 1 of each year and shall include, but not be limited to, information on: the total number of program participants; the number of program participants entering the program in that year; a profile of the program participants, including demographic information, the school district in which the participant is employed and the school in which the participant teaches, and the institution of higher education from which the participant received a degree; the average annual loan redemption amount and the four-year average loan redemption amount of program participants; the number of applicants who were denied acceptance into the program, including the number who were denied due to a lack of program funding; the amount of the annual program appropriation that is applied to loan redemption payments for participants; the amount of the annual program appropriation that is used to compensate bondholders due to bond modification including, but not limited to, interest loss over the life of the loans; and the amount of the annual appropriation used to administer the program.
L.2021, c.384, s.3.
2023 New Jersey Revised Statutes › Title 18A - Education › Section 18A:71C-86 - General Fund appropriations.

18A:71C-86 General Fund appropriations.
4. There is annually appropriated from the General Fund to the Higher Education Student Assistance Authority a sum of $1,000,000 for costs associated with loan redemption pursuant to section 2 of this act.
L.2021, c.384, s.4.
2023 New Jersey Revised Statutes › Title 18A - Education › Section 18A:71C-87 - Definitions.

18A:71C-87 Definitions.
1. As used in this act:
"Approved site" means a community provider of behavioral and mental health services identified by the Higher Education Student Assistance Authority, in consultation with the Department of Health, for inclusion in the program. Approved sites may include, but need not be limited to, providers operated by a nonprofit, institution of higher education, school district, county, the Department of Children and Families, the Department of Human Services, and the Department of Health.
"Authority" means the Higher Education Student Assistance Authority.
"Eligible behavioral healthcare providers" means psychiatrists, psychologists, licensed clinical social workers, psychiatric nurse mental health clinical specialists; board certified behavior analysts; licensed clinical alcohol and drug counselors; and any other professionals identified by the executive director of the authority for inclusion in the program.
"Eligible qualifying loan expenses" means the cumulative outstanding balance of student loans covering the cost of attendance at an undergraduate or graduate institution of higher education at the time an applicant is selected for the program. Interest paid or due on qualifying loans that an applicant has taken out for use in paying the costs of undergraduate or graduate education shall be considered eligible for reimbursement under the program. The authority may establish a limit on the total amount of qualifying loans which may be redeemed for participants under the program, provided that the total redemption of qualifying loans does not exceed $150,000, or the maximum amount authorized by the federal government, whichever is greater, either in State funds or the sum of federal, State, and other non-federal matching funds, pursuant to section 338I of the Public Health Service Act (42 U.S.C. s.254q-1), whichever is applicable.
"Executive director" means the executive director of the Higher Education Student Assistance Authority.
"Program" means the Behavioral Healthcare Provider Loan Redemption Program established pursuant to this act.
"Program participant" means a behavioral healthcare provider who contracts with the authority to engage in the clinical practice of mental or behavioral healthcare at an approved site in exchange for the redemption of eligible qualifying loan expenses provided under the program.
"Qualifying loan" means a government or commercial loan for the actual costs paid for tuition and reasonable education and living expenses relating to the obtaining of a degree for use in a mental or behavioral healthcare profession.
"Total and permanent disability" means a physical or mental disability that is expected to continue indefinitely or result in death and renders a participant in the program unable to perform that person's service obligation, as determined by the executive director or his designee.
L.2022, c.34, s.1.
2023 New Jersey Revised Statutes › Title 18A - Education › Section 18A:71C-88 - "Behavioral Healthcare Provider Loan Redemption Program" established.

18A:71C-88 "Behavioral Healthcare Provider Loan Redemption Program" established.
2. There is established a Behavioral Healthcare Provider Loan Redemption Program within the Higher Education Student Assistance Authority. The program shall provide for the redemption of a portion of the eligible qualifying loan expenses of program participants for each period of service at an approved site.
L.2022, c.34, s.2.
2023 New Jersey Revised Statutes › Title 18A - Education › Section 18A:71C-89 - Program eligibility.

18A:71C-89 Program eligibility.
3. a. To be eligible to participate in the program, an applicant shall:
(1) be a resident of the State;
(2) be employed, or plan to be employed, as an eligible behavioral healthcare provider at an approved site; and
(3) submit an application in accordance with such procedures and requirements as are established by the executive director.
b. The executive director, or the executive director's designee, shall select the program participants from among those applicants who meet the eligibility criteria, subject to available funds.
c. A program participant shall enter into a written contract with the authority to participate in the program. The contract shall specify the duration of the applicant's required service and the total amount of eligible student loan expenses to be redeemed by the State in return for service.
d. The redemption of loans under the program shall not exceed $50,000 of principal and interest of eligible student loan expenses following the completion of two full years of service satisfactorily completed by the program participant. A program participant who completes four full years of service satisfactorily shall be eligible to receive a second redemption amount of $50,000 at the completion of the fourth year. A program participant who completes six full years of service satisfactorily shall be eligible to receive a third and final redemption amount of $50,000 at the completion of the sixth year. The total loan redemption amount for a program participant, for six years of service, shall not exceed $150,000.
e. The period of service shall commence on or after the date of enactment of this act.
L.2022, c.34, s.3.
2023 New Jersey Revised Statutes › Title 18A - Education › Section 18A:71C-90 - Redemption contract, service obligation, nullification; circumstances, certain.

18A:71C-90 Redemption contract, service obligation, nullification; circumstances, certain.
4. a. A program participant who has entered into a redemption contract with the authority may nullify that contract by submitting written notification to the authority and assuming full responsibility for repayment of the full amount of the participant's loan or that portion of the loan that has not been redeemed by the State in return for partial fulfillment of the contract.
b. In the case of a program participant's death or total or permanent disability, the authority shall nullify the service obligation of the participant, thereby terminating the participant's service obligation; or where continued enforcement of the contract may result in extreme hardship, the authority may nullify or suspend the participant's service obligation.
c. In no event shall service at an approved site for less than the full period of service pursuant to subsection d. of section 3 of this act entitle the program participant to any benefits under the program.
L.2022, c.34, s.4.
2023 New Jersey Revised Statutes › Title 18A - Education › Section 18A:71C-91 - Simultaneous tuition, loan redemption participation, certain, prohibited.

18A:71C-91 Simultaneous tuition, loan redemption participation, certain, prohibited.
5. A student who is participating in any other State tuition or loan redemption program, or in the federally administered National Health Service Corps Loan Repayment Program, section 338B of the Public Health Service Act (42 U.S.C. s.254 l-1), shall not be eligible to participate simultaneously in the Behavioral Healthcare Provider Loan Redemption Program.
L.2022, c.34, s.5.
2023 New Jersey Revised Statutes › Title 18A - Education › Section 18A:71C-92 - Incentive grants.

18A:71C-92 Incentive grants.
6. The executive director of the authority shall annually award incentive grants, within the limits of available State appropriations, to program participants who work primarily with children and adolescents. An incentive grant shall not exceed $5,000. A program participant may be eligible to receive multiple incentive grants during their participation in the program.
L.2022, c.34, s.6.
2023 New Jersey Revised Statutes › Title 18A - Education › Section 18A:72A-1 - Preamble, purpose of chapter

18A:72A-1. Preamble, purpose of chapter
18A:72A-1. It is hereby declared that a serious public emergency exists affecting and threatening the welfare, comfort, health, safety and prosperity of the people of the State and resulting from the fact that financial resources are lacking with which to construct required dormitory and other educational facilities at public and private institutions of higher education and that there is a shortage of working capital for the development, establishment, and operation of public and private institutions of higher education; that it is essential that this and future generations of youth be given the fullest opportunity to learn and to develop their intellectual and mental capacities; that it is essential that institutions of higher education within the State be provided with appropriate additional means to assist such youth in achieving the required levels of learning and development of their intellectual and mental capacities; that it is essential that all resources of the State be employed in order to meet the tremendous demand for higher educational opportunities; that all institutions of higher education in the State, both public and private, are an integral part of the total educational effort in the State for providing higher educational opportunities, and that it is the purpose of this chapter to provide a measure of assistance and an alternative method to enable institutions of higher education in the State to provide the facilities which are sorely needed to accomplish the purposes of this chapter and to provide working capital to public and private institutions of higher education, all to the public benefit and good, to the extent and manner provided herein.
L.1967, c.271; amended 2021, c.415, s.1.
2023 New Jersey Revised Statutes › Title 18A - Education › Section 18A:72A-5.1 - Prevailing wage rate for workers employed on projects with New Jersey Educational Facilities Authority involvement.

18A:72A-5.1 Prevailing wage rate for workers employed on projects with New Jersey Educational Facilities Authority involvement.
5. Each worker employed in the construction or rehabilitation of facilities undertaken in connection with loans, loan guarantees, expenditures, investments, tax exemptions or other incentives or financial assistance approved, provided, authorized, facilitated or administered by the New Jersey Educational Facilities Authority, or undertaken to fulfill any condition of receiving any of the incentives or financial assistance, shall be paid not less than the prevailing wage rate for the worker's craft or trade, as determined by the Commissioner of Labor and Workforce Development pursuant to P.L.1963, c.150 (C.34:11-56.25 et seq.).
The Commissioner of Labor and Workforce Development shall determine the prevailing wage rate in the locality in which the construction or rehabilitation is to be performed for each craft, trade or classification of worker employed in the construction or rehabilitation, as if the construction or rehabilitation is "public work" as defined in section 2 of P.L.1963, c.150 (C.34:11-56.26).
L.2004,c.127,s.5.
2023 New Jersey Revised Statutes › Title 18A - Education › Section 18A:72A-5.2 - Exercise of rights, powers or duties.

18A:72A-5.2 Exercise of rights, powers or duties.
6. For the purpose of implementing the provisions of sections 5 through 7 of this act, the Commissioner of Labor and Workforce Development shall, and a worker employed in the performance of work subject to this act or the employer or any designated representative of the worker may, exercise all rights, powers or duties granted or imposed upon them by P.L.1963, c.150 (C.34:11-56.25 et seq.).
L.2004,c.127,s.6.
2023 New Jersey Revised Statutes › Title 18A - Education › Section 18A:72A-5.3 - Prevailing wage rules, regulations, adoption by New Jersey Educational Facilities Authority.

18A:72A-5.3 Prevailing wage rules, regulations, adoption by New Jersey Educational Facilities Authority.
7. The New Jersey Educational Facilities Authority shall, in consultation with the Commissioner of Labor and Workforce Development, adopt rules and regulations, consistent with the rules and regulations adopted by the Commissioner of Labor and Workforce Development pursuant to P.L.1963, c.150 (C.34:11-56.25 et seq.),requiring that not less than the prevailing wage be paid to workers employed in the construction or rehabilitation of facilities undertaken in connection with loans, loan guarantees, expenditures, investments, incentives or other financial assistance provided, authorized or administered by the authority. The prevailing wage rate shall be the rate determined by the Commissioner of Labor and Workforce Development pursuant to the provisions of P.L.1963, c.150 (C.34:11-56.25 et seq.).
L.2004,c.127,s.7.
2023 New Jersey Revised Statutes › Title 18A - Education › Section 18A:72A-5.4 - Inapplicability of C.18A:72A-5.1 through C.18A:72A-5.3.

18A:72A-5.4 Inapplicability of C.18A:72A-5.1 through C.18A:72A-5.3.
8. The provisions of sections 5 through 7 of this act shall not apply to construction and rehabilitation of facilities conducted entirely under contracts entered into prior to the effective date of this act or to the refinancing of the outstanding debt on projects in which all construction or rehabilitation of facilities was conducted under contracts entered into prior to the effective date of this act.
L.2004,c.127,s.8.
2023 New Jersey Revised Statutes › Title 18A - Education › Section 18A:72A-6 - Expenses of authority

18A:72A-6. Expenses of authority
All expenses incurred in carrying out the provisions of this chapter shall be payable from funds provided the authority therefor, and no liability or obligation shall be incurred by the authority hereunder beyond the extent to which moneys shall have been provided therefor.
L.1967, c.271.
2023 New Jersey Revised Statutes › Title 18A - Education › Section 18A:72A-7 - Issuance of notes authorized

18A:72A-7. Issuance of notes authorized
The authority is authorized from time to time to issue its negotiable notes for any corporate purpose and renew from time to time any notes by the issuance of new notes, whether the notes to be renewed have or have not matured. The authority may issue notes partly to renew notes or to discharge other obligations then outstanding and partly for any other purpose. The notes may be authorized, sold, executed and delivered in the same manner as bonds. Any resolution or resolutions authorizing notes of the authority or any issue thereof may contain any provisions which the authority is authorized to include in any resolution or resolutions authorizing bonds of the authority or any issue thereof, and the authority may include in any notes any terms, covenants or conditions which it is authorized to include in any bonds. All such notes shall be payable from the revenues or other moneys of the authority, subject only to any contractual rights of the holders of any of its notes or other obligations then outstanding.
L.1967, c.271.
2023 New Jersey Revised Statutes › Title 18A - Education › Section 18A:72A-9 - Bonds secured by trust agreement

18A:72A-9. Bonds secured by trust agreement
In the discretion of the authority, any bonds issued under the provisions of this chapter may be secured by a trust agreement by and between the authority and a corporate trustee or trustees, which may be any trust company or bank having the powers of a trust company within or without the state. Such trust agreement or the resolution providing for the issuance of such bonds may pledge or assign the revenues or other moneys to be received or proceeds of any contract or contracts pledged. Such trust agreement or resolution providing for the issuance of such bonds may contain such provisions for protecting and enforcing the rights and remedies of the bondholders as may be reasonable and proper and not in violation of law, including particularly such provisions as have hereinabove been specifically authorized to be included in any resolution or resolutions of the authority authorizing bonds thereof. Any bank or trust company incorporated under the laws of this state which may act as depositary of the proceeds of bonds or of revenues or other moneys may furnish such indemnifying bonds or pledge such securities as may be required by the authority. Any such trust agreement may set forth the rights and remedies of the bondholders and of the trustee or trustees, and may restrict the individual right of action by bondholders. In addition to the foregoing, any such trust agreement or resolution may contain such other provisions as the authority may deem reasonable and proper for the security of the bondholders. All expenses incurred in carrying out the provisions of such trust agreement or resolution may be treated as a part of the cost of construction or operation of a project.
L.1967, c.271.
2023 New Jersey Revised Statutes › Title 18A - Education › Section 18A:72A-10 - Bonds not liability of state or political subdivision

18A:72A-10. Bonds not liability of state or political subdivision
Bonds issued under the provisions of this chapter shall not be deemed to constitute a debt or liability of the state or of any political subdivision thereof or a pledge of the faith and credit of the state or of any such political subdivision, but shall be payable solely from the funds herein provided. All such bonds shall contain on the face thereof a statement to the effect that neither the state of New Jersey nor the authority shall be obligated to pay the same or the interest thereon except from revenues or other moneys of the authority and that neither the faith and credit nor the taxing power of the state of New Jersey or of any political subdivision thereof is pledged to the payment of the principal of or the interest on such bonds. The issuance of bonds under the provisions of this chapter shall not directly or indirectly or contingently obligate the state or any political subdivision thereof to levy or to pledge any form of taxation whatever therefor.
L.1967, c.271.
2023 New Jersey Revised Statutes › Title 18A - Education › Section 18A:72A-11.1 - Refinancing outstanding mortgages of private lenders.

18A:72A-11.1 Refinancing outstanding mortgages of private lenders.
1. In addition to other powers and duties which have been granted to the authority, whenever any participating institution has constructed or acquired any work or improvement or other project which would otherwise qualify under this act except for the fact that such construction, acquisition, or project was undertaken and financed without assistance from the authority, the authority may purchase such work or improvement, and lease the same to such participating institution, or may lend funds to such participating institution for the purpose of enabling the latter to retire obligations incurred for such construction or acquisition; except that the amount of any such price or loan shall not exceed the original project cost and administrative costs, reserves, and other costs associated with the retirement of such obligations. All powers, rights, obligations and duties granted to or imposed upon the authority, participating institutions, State departments and agencies or others by this chapter in respect to projects shall apply to the same extent with respect to transactions pursuant to this section; except that any action otherwise required to be taken at a particular time in the progression of a project may, where the circumstances are so required in connection with a transaction under this section, be taken with the same effect as if taken at that particular time.
L.1980, c.31, s.1; amended 2009, c.308, s.31; 2021, c.415, s.7.
2023 New Jersey Revised Statutes › Title 18A - Education › Section 18A:72A-11.2 - Loan agreement, provision of working capital to participating institution; terms.

18A:72A-11.2 Loan agreement, provision of working capital to participating institution; terms.
17. A participating institution and the authority may enter into a loan agreement in connection with a project which includes the provision of working capital to such institution. In no event shall working capital be considered a non-revenue-producing facility under chapter 72A of Title 18A of the New Jersey Statutes. Any loan agreement entered into under the provisions of this section may contain the provisions as may be agreeable to the participating institution and the authority and as may be necessary or desirable to secure the loan, including, without limitation, provisions for the granting of a security interest in personal property or receivables or a mortgage on all or any portion of the real property of the participating institution.
L.2021, c.415, s.17.
2023 New Jersey Revised Statutes › Title 18A - Education › Section 18A:72A-12 - Moneys of authority; trust funds

18A:72A-12. Moneys of authority; trust funds
All moneys received pursuant to the authority of this chapter, whether as proceeds from the sale of bonds or as revenues, shall be deemed to be trust funds to be held and applied solely as provided in this chapter. Any officer with whom, or any bank or trust company with which, such moneys shall be deposited shall act as trustee of such moneys and shall hold and apply the same for the purposes hereof, subject to such regulations as this chapter and the resolution authorizing the bonds of any issue or the trust agreement securing such bonds may provide.
L.1967, c.271.
2023 New Jersey Revised Statutes › Title 18A - Education › Section 18A:72A-12.1 - Investment or reinvestment of funds

18A:72A-12.1. Investment or reinvestment of funds
All functions, powers and duties relating to the investment or reinvestment of funds within the jurisdiction of the authority including the purchase, sale or exchange of any investments or securities may, at the request of the authority, be exercised and performed by the director of the Division of Investment, in accordance with written directions of the authority signed by an authorized officer.
L.1968, c. 400, s. 1, eff. Jan. 10, 1969.
2023 New Jersey Revised Statutes › Title 18A - Education › Section 18A:72A-12.3 - Findings, declarations relative to county college capital projects fund.

18A:72A-12.3 Findings, declarations relative to county college capital projects fund.
2. The Legislature finds and declares that:
a. Higher education plays a vital role in the economic development of the nation and the State by providing the education and training of the work force of the future;
b. The county colleges serve a vital role in the educational system of the State by providing students with an affordable means of obtaining higher education, thereby providing opportunities to the residents of the State which would not otherwise be available;
c. County colleges and the residents of the State would benefit from additional funds and resources enabling counties to undertake and complete county college capital projects;
d. It would therefore be appropriate for the New Jersey Educational Facilities Authority created pursuant to N.J.S.18A:72A-1 et seq. to enter into contracts with counties and the State Treasurer to provide for the financing of county college capital projects.
L.1997,c.360,s.2.
2023 New Jersey Revised Statutes › Title 18A - Education › Section 18A:72A-12.4 - County college capital projects fund, established.

18A:72A-12.4 County college capital projects fund, established.
3. a. There is created within the New Jersey Educational Facilities Authority, established pursuant to chapter 72A of Title 18A of the New Jersey Statutes, hereinafter referred to as the "authority," a county college capital projects fund to finance county college capital projects. The authority may issue bonds to finance the State share of county college capital projects and the county share of county college capital projects as certified by the State Treasurer pursuant to section 2 of P.L.1971, c.12 (C.18A:64A-22.2). The State Treasurer is hereby authorized to enter into a contract with the authority pursuant to which the State Treasurer, subject to available appropriation, shall pay the amount necessary to pay the principal and interest on bonds and notes of the authority issued to finance the State share of county college capital projects. The authority may enter into a loan agreement with each county in which a county college capital project is located for the purpose of funding the county share of the applicable county college capital project.
b. The authority may from time to time issue bonds or notes in an amount sufficient to finance county college capital projects and which shall also finance the administrative costs and any reserves or other issuance costs associated with the issuance of bonds or notes. The authority shall issue the bonds or notes in such manner as it shall determine in accordance with the provisions of this act and the "New Jersey educational facilities authority law," N.J.S.18A:72A-1 et seq. The authority shall not issue any bonds or notes pursuant to this section without the prior written consent of the State Treasurer.
L.1997,c.360,s.3.
2023 New Jersey Revised Statutes › Title 18A - Education › Section 18A:72A-12.5 - Loan agreement to issue bonds, notes.

18A:72A-12.5 Loan agreement to issue bonds, notes.
4. a. At any time within one year of the certification by the State Treasurer to the board of chosen freeholders, the county college at which the capital project is located, and the authority, pursuant to section 2 of P.L.1971, c.12 (C.18A:64A-22.2), the board of chosen freeholders is authorized, in lieu of issuing bonds or notes pursuant to N.J.S.18A:64A-19, to enter into a loan agreement with the authority for the issuance of bonds or notes of the authority to fund the county share of the capital project. The county shall issue bonds and notes to the authority which shall be delivered to the authority to evidence the loan, and which shall be the source of payment for the bonds or notes issued by the authority to finance the county share of the capital project. The loan evidenced by the bonds or notes may be made subject to such terms and conditions as the authority determines to be consistent with the purposes thereof. Each loan by the authority shall be subject to approval by the State Treasurer and shall be evidenced by notes or bonds issued by the county which shall be authorized and issued as provided by law for the issuance of notes and bonds by the county. A loan to a county, and the notes, bonds or other obligations thereby issued shall bear interest at a rate or rates per annum as may be agreed upon by the authority and the county.
b. Any bonds or notes authorized by the county to be issued to the authority or to another entity for the purpose of funding the county share of a county college capital project shall be in addition to the sums authorized to be borrowed by the board of chosen freeholders pursuant to the provisions of N.J.S.18A:64A-19 for the purpose of funding the county's share of capital projects, and the additional borrowing, if entered into by the county, shall constitute a deduction from the gross debt of the county and shall not be considered in determining its net debt for debt incurring purposes.
L.1997,c.360,s.4.
2023 New Jersey Revised Statutes › Title 18A - Education › Section 18A:72A-12.6 - "Dormitory Safety Trust Fund."

18A:72A-12.6 "Dormitory Safety Trust Fund."
6. a. There is created within the New Jersey educational facilities authority established pursuant to N.J.S.18A:72A-4, the "Dormitory Safety Trust Fund," hereinafter referred to as the "trust fund." The trust fund shall be maintained as a separate account and administered by the authority to carry out the provisions of P.L.2000, c.56 (C.52:27D-198.7 et al.). There shall be paid into this fund:
(1) moneys received from the sale of bonds or notes issued pursuant to section 8 of P.L.2000, c.56 (C.18A:72A-12.8);
(2) moneys appropriated by the Legislature, including moneys as may be appropriated annually in an amount sufficient to pay the principal and interest on the bonds or notes;
(3) all interest and investment earnings received on the moneys in the trust fund; and
(4) all repayments of loans authorized pursuant to P.L.2000, c.56 (C.52:27D-198.7 et al.).
b. The trust fund shall be used to provide loans to the schools and institutions of higher education which are required pursuant to P.L.2000, c.56 (C.52:27D-198.7 et al.) to install automatic fire suppression systems, for the cost, or a portion of the cost, of the construction, reconstruction, development, extension or improvement of dormitory safety facilities, including fire prevention and sprinkler systems.
L.2000,c.56,s.6.
2023 New Jersey Revised Statutes › Title 18A - Education › Section 18A:72A-13 - Bondholders; enforcement of rights

18A:72A-13. Bondholders; enforcement of rights
Any holder of bonds issued under the provisions of this chapter or any of the coupons appertaining thereto, and the trustee or trustees under any trust agreement, except to the extent the rights herein given may be restricted by any resolution authorizing the issuance of, or any such trust agreement securing, such bonds, may, either at law or in equity, by suit, action, mandamus or other proceedings, protect and enforce any and all rights under the laws of the state or granted hereunder or under such resolution or trust agreement, and may enforce and compel the performance of all duties required by this chapter or by such resolution or trust agreement to be performed by the authority or by any officer, employee or agent thereof, including the fixing, charging and collecting of the rates, rents, fees and charges herein authorized and required by the provisions of such resolution or trust agreement to be fixed, established and collected.
L.1967, c.271.
2023 New Jersey Revised Statutes › Title 18A - Education › Section 18A:72A-14 - Refunding bonds; additional purposes

18A:72A-14. Refunding bonds; additional purposes
(a) The authority is hereby authorized to provide for the issuance of bonds of the authority for the purpose of refunding any bonds of the authority then outstanding, including the payment of any redemption premium thereon and any interest accrued or to accrue to the earliest or subsequent date of redemption, purchase or maturity of such bonds, and, if deemed advisable by the authority, for the additional purpose of paying all or any part of the cost of constructing and acquiring additions, improvements, extensions or enlargements of a project or any portion thereof.
(b) The proceeds of any such bonds issued for the purpose of refunding outstanding bonds may, in the discretion of the authority, be applied to the purchase or retirement at maturity or redemption of such outstanding bonds either on their earliest or any subsequent redemption date or upon the purchase or at the maturity thereof and may, pending such application, be placed in escrow to be applied to such purchase or retirement at maturity or redemption on such date as may be determined by the authority.
(c) Any such escrowed proceeds, pending such use, may be invested and reinvested in obligations of or guaranteed by the United States of America, or in certificates of deposit or time deposits secured by obligations of or guaranteed by the United States of America, maturing at such time or times as shall be appropriate to assure the prompt payment, as to principal, interest and redemption premium, if any, of the outstanding bonds to be so refunded. The interest, income and profits, if any, earned or realized on any such investment may also be applied to the payment of the outstanding bonds to be so refunded. After the terms of the escrow have been fully satisfied and carried out, any balance of such proceeds and interest, income and profits, if any, earned or realized on the investments thereof may be returned to the authority for use by it in any lawful manner.
(d) The portion of the proceeds of any such bonds issued for the additional purpose of paying all or any part of the cost of constructing and acquiring additions, improvements, extensions or enlargements of a project may be invested and reinvested in obligations of or guaranteed by the United States of America, or in certificates of deposit or time deposits secured by obligations of or guaranteed by the United States of America, maturing not later than the time or times when such proceeds will be needed for the purpose of paying all or any part of such cost. The interest, income and profits, if any, earned or realized on such investment may be applied to the payment of all or any part of such cost or may be used by the authority in any lawful manner.
(e) All such bonds shall be subject to the provisions of this chapter in the same manner and to the same extent as other bonds issued pursuant to this chapter.
L.1967, c.271.
2023 New Jersey Revised Statutes › Title 18A - Education › Section 18A:72A-15 - Bonds as legal investments

18A:72A-15. Bonds as legal investments
Bonds and notes issued by the authority under the provisions of this chapter are hereby made securities in which the state and all political subdivisions of the state, their officers, boards, commissions, departments or other agencies, all banks, bankers, savings banks, trust companies, savings and loan associations, investment companies and other persons carrying on a banking business, all insurance companies, insurance associations, and other persons carrying on an insurance business, and all administrators, executors, guardians, trustees and other fiduciaries, and all other persons whatsoever who now are or may hereafter be authorized to invest in bonds or other obligations of the state, may properly and legally invest any funds, including capital belonging to them or within their control; and said bonds, notes or other securities or obligations are hereby made securities which may properly and legally be deposited with and received by any state or municipal officers or agency of the state for any purpose for which the deposit of bonds or other obligations of the state is now or may hereafter be authorized by law.
L.1967, c.271
2023 New Jersey Revised Statutes › Title 18A - Education › Section 18A:72A-16 - Chapter complete authority for issuance of bonds

18A:72A-16. Chapter complete authority for issuance of bonds
Bonds may be issued under the provisions of this chapter without obtaining the consent of any department, division, commission, board, bureau, agency or officer of the state, and without any other proceedings or the happening of any other conditions or things than those proceedings, conditions and things which are specifically required by this chapter.
L.1967, c.271.
2023 New Jersey Revised Statutes › Title 18A - Education › Section 18A:72A-18 - Exemptions from taxes; bonds; property

18A:72A-18. Exemptions from taxes; bonds; property
The exercise of the powers granted by this chapter will be in all respects for the benefit of the people of this state, for the increase of their commerce, welfare and prosperity, and for the improvement of their health and living conditions, and as the operation and maintenance of a project by the authority or its agent will constitute the performance of an essential public function, neither the authority nor its agent shall be required to pay any taxes or assessments upon or in respect of a project or any property acquired or used by the authority or its agent under the provisions of this chapter or upon the income therefrom, and any bonds issued under the provisions of this chapter, their transfer and the income therefrom, including any profit made on the sale thereof, shall at all times be free from taxation of every kind by the state and by the municipalities and other political subdivisions in the state.
L.1967, c.271.
2023 New Jersey Revised Statutes › Title 18A - Education › Section 18A:72A-19 - Restriction on alteration of powers

18A:72A-19. Restriction on alteration of powers
18A:72A-19. The State of New Jersey does pledge to and agree with the holders of the bonds, notes and other obligations issued pursuant to authority contained in this chapter, and with those parties who may enter into contracts with the authority pursuant to the provisions of this chapter, that the State will not limit, alter or restrict the rights hereby vested in the authority and the participating institutions to maintain, construct, reconstruct and operate any project as defined in this chapter or to establish and collect such rents, fees, receipts or other charges as may be convenient or necessary to produce sufficient revenues to meet the expenses of maintenance and operation thereof and to fulfill the terms of any agreements made with the holders of bonds authorized by this chapter, and with the parties who may enter into contracts with the authority pursuant to the provisions of this chapter, or in any way impair the rights or remedies of the holders of such bonds or such parties until the bonds, together with interest thereon, are fully paid and discharged and such contracts are fully performed on the part of the authority. The authority as a public body corporate and politic shall have the right to include the pledge herein made in its bonds and contracts.
L.1967, c.271; amended 2021, c.415, s.8.