reglab/statecodes huggingface dataset:
New Jersey Administrative Code › Title 3 - BANKING › Chapter 42 - PINELANDS DEVELOPMENT CREDIT BANK › Subchapter 1 - GENERAL PROVISIONS › Section 3:42-1.2 - Purpose

Current through Register Vol. 56, No. 14, July 15, 2024
(a) The purpose of
				this chapter is to:
1. Establish an efficient
				and effective method for documenting the sale, transfer, conveyance,
				encumbrance, and use of Pinelands Development Credits which are authorized and
				allocated pursuant to the Pinelands Comprehensive Management Plan,
				7:50-1.1 et seq.; and
2. Facilitate the effective operation of the
				Pinelands Development Credit program through the Bank's participation in the
				purchase and use of Pinelands Development Credits.
New Jersey Administrative Code › Title 3 - BANKING › Chapter 42 - PINELANDS DEVELOPMENT CREDIT BANK › Subchapter 1 - GENERAL PROVISIONS › Section 3:42-1.3 - Applicability

Current through Register Vol. 56, No. 14, July 15, 2024
The rules contained in this chapter shall apply to all
				  sales, transfers, conveyances, encumbrances and redemptions of Pinelands
				  Development Credits and shall be supplemental to the provisions of the
				  Pinelands Comprehensive Management Plan,
				  7:50-1.1 et seq.
New Jersey Administrative Code › Title 3 - BANKING › Chapter 42 - PINELANDS DEVELOPMENT CREDIT BANK › Subchapter 1 - GENERAL PROVISIONS › Section 3:42-1.4 - Construction

Current through Register Vol. 56, No. 14, July 15, 2024
These rules shall be liberally construed to permit the Bank
				  to effectuate the purposes of the law.
New Jersey Administrative Code › Title 3 - BANKING › Chapter 42 - PINELANDS DEVELOPMENT CREDIT BANK › Subchapter 1 - GENERAL PROVISIONS › Section 3:42-1.5 - Severability

Current through Register Vol. 56, No. 14, July 15, 2024
If any section, part, phrase, or provision of these rules or
				  the application thereof to any person be adjudged invalid by any court of
				  competent jurisdiction, such judgment shall be confined in its operation to the
				  section, part, phrase, provision or application directly involved in the
				  controversy in which such judgment shall have been rendered and it shall not
				  affect or impair the validity of the remainder of these rules or the
				  application thereof to other persons.
New Jersey Administrative Code › Title 3 - BANKING › Chapter 42 - PINELANDS DEVELOPMENT CREDIT BANK › Subchapter 1 - GENERAL PROVISIONS › Section 3:42-1.6 - Duties and powers of the Board of Directors

Current through Register Vol. 56, No. 14, July 15, 2024
The Board of Directors is the governing body of the
				  Pinelands Development Credit Bank and bears the ultimate responsibility for
				  implementing and enforcing the provisions of the Pinelands Development Credit
				  Bank Act and these rules. The Board shall exercise the powers necessary to
				  implement the objectives of the Act and these rules.
New Jersey Administrative Code › Title 3 - BANKING › Chapter 42 - PINELANDS DEVELOPMENT CREDIT BANK › Subchapter 1 - GENERAL PROVISIONS › Section 3:42-1.7 - Meetings, hearings, procedures and rules of the Board of Directors

Current through Register Vol. 56, No. 14, July 15, 2024
(a) The Board of
				Directors shall adopt its own bylaws and procedures for the conduct of its
				business, meetings and hearings not inconsistent with the Pinelands Development
				Credit Bank Act, these rules and the Administrative Procedure Act,
				52:14B-1 et seq. Copies of those
				bylaws and procedures shall be available to any person upon request.
(b) The Board shall adopt and revise, as
				appropriate, the form and content of the Pinelands Development Credit
				Certificate as provided in
				3:42-3.3.
(c) The Board shall adopt and revise, as
				appropriate, rules pursuant to the Administrative Procedure Act to implement
				the legislative mandates of the Pinelands Development Credit Bank Act.
New Jersey Administrative Code › Title 3 - BANKING › Chapter 42 - PINELANDS DEVELOPMENT CREDIT BANK › Subchapter 1 - GENERAL PROVISIONS › Section 3:42-1.8 - Duties and powers of the Executive Director

Current through Register Vol. 56, No. 14, July 15, 2024
(a) The Executive
				Director shall be the chief administrative officer of the Board and, subject to
				the approval of his actions by the Board as provided herein, shall be
				responsible for the administration and enforcement of these rules. In order to
				effectively implement these rules, the Executive Director shall exercise the
				following duties and powers:
1.
				Administrative Procedures: The Executive Director shall, consistent with the
				express standards, purposes and intent of these rules, establish administrative
				procedures and forms as are necessary to the effective administration and
				enforcement of these rules and the procedures of the Board.
2. Pinelands Development Credit Certificates:
				The Executive Director shall, consistent with the express standards, purposes,
				and intent of these rules, issue Pinelands Development Credit
				Certificates.
3. Records: The
				Executive Director shall maintain:
i. Current
				and permanent records of the Bank including a registry of all Pinelands
				Development Credit Certificates issued, sold, conveyed, transferred,
				encumbered, retired and redeemed; and
ii. A current and permanent record of the
				Bank pertaining to Pinelands Development Credits the Bank purchases, credit
				guarantees extended by the Bank and authorities delegated and grants provided
				to counties.
New Jersey Administrative Code › Title 3 - BANKING › Chapter 42 - PINELANDS DEVELOPMENT CREDIT BANK › Subchapter 2 - INTERPRETATIONS AND DEFINITIONS › Section 3:42-2.1 - Word usage

Current through Register Vol. 56, No. 14, July 15, 2024
(a) In the
				interpretation of these rules, the provisions of this section shall be observed
				and applied, except when the context clearly requires otherwise:
1. Words used or defined in one tense or form
				shall include other tenses and derivative forms.
2. Words in the singular shall include plural
				and words in the plural shall include the singular.
3. The masculine gender shall include the
				feminine and the feminine gender shall include the masculine.
4. The word "shall" is mandatory.
5. The word "may" is permissive.
6. In case of any difference of meaning or
				implication between the text of these rules and any caption, the text shall
				control.
New Jersey Administrative Code › Title 3 - BANKING › Chapter 42 - PINELANDS DEVELOPMENT CREDIT BANK › Subchapter 3 - PROCEDURES GOVERNING THE SALE, CONVEYANCE, TRANSFER OR ENCUMBRANCE OF PINELANDS DEVELOPMENT CREDITS › Section 3:42-3.1 - Applicability

Current through Register Vol. 56, No. 14, July 15, 2024
(a) No person shall
				sell, transfer, convey or encumber any Pinelands Development Credits or any
				interest therein without first obtaining a Pinelands Development Credit
				Certificate from the Bank.
(b)
				Within 10 business days following the sale, transfer, conveyance or encumbrance
				of a Pinelands Development Credit or any interest therein, the person acquiring
				such Pinelands Development Credit or interest therein shall notify the
				Executive Director of his ownership or interest in the Pinelands Development
				Credit and the Executive Director shall re-issue a Pinelands Development Credit
				Certificate pursuant to the provisions of
				3:42-3.4.
(c) Within 10 business days of the redemption
				of any Pinelands Development Credit, the person redeeming such Pinelands
				Development Credit shall notify the Executive Director of said redemption
				pursuant to the provisions of
				3:42-3.6.
New Jersey Administrative Code › Title 3 - BANKING › Chapter 42 - PINELANDS DEVELOPMENT CREDIT BANK › Subchapter 3 - PROCEDURES GOVERNING THE SALE, CONVEYANCE, TRANSFER OR ENCUMBRANCE OF PINELANDS DEVELOPMENT CREDITS › Section 3:42-3.2 - Application for Pinelands Development Credit Certificate

Current through Register Vol. 56, No. 14, July 15, 2024
(a) Application for
				a Pinelands Development Credit Certificate shall be made to the Executive
				Director in such form and number as he shall from time to time
				specify.
(b) The Executive Director
				may waive or modify any of the application requirements set forth in (c) below
				if he determines that any required information is not relevant or necessary for
				purposes of issuing a Pinelands Development Credit Certificate.
(c) The following information shall be
				included in applications for Pinelands Development Credit Certificates:
1. The applicant's name and mailing
				address;
2. The property owner's
				name and address, if different from the applicant's, and a signed consent to
				the filing of the application;
3.
				The deed to the property to which Pinelands Development Credits are
				allocated;
4. A letter of
				interpretation from the Pinelands Commission, pursuant to N.J.A.C. 7:50-4.7 1
				et seq., attesting to the number of Pinelands Development Credits allocated to
				the property;
5. The municipal tax
				block and lot number and a copy of the municipal tax map sheet(s) showing the
				property to which Pinelands Development Credits are allocated;
6. A title search of the property to which
				Pinelands Development Credits are allocated which covers at least the 60 years
				preceding the date of application except for Pinelands Development Credits
				transferred before April 4, 1988 (the effective date of these rules), in which
				case sufficient evidence of marketable title as exists shall be
				submitted;
7. A certification from
				the property owner that he has marketable title to the property to which
				Pinelands Development Credits are allocated and is legally empowered to
				restrict the use of this property in accordance with the Pinelands
				Comprehensive Management Plan,
				7:50-5.4 7, except for Pinelands
				Development Credits transferred before April 4, 1988 (the effective date of
				these rules);
8. A properly
				executed and recorded restriction on the deed to the property in accordance
				with the Pinelands Comprehensive Management Plan,
				7:50-5.4 7; and
9. Such other information as the Executive
				Director may determine is necessary in order to issue a Pinelands Development
				Credit Certificate.
New Jersey Administrative Code › Title 3 - BANKING › Chapter 42 - PINELANDS DEVELOPMENT CREDIT BANK › Subchapter 3 - PROCEDURES GOVERNING THE SALE, CONVEYANCE, TRANSFER OR ENCUMBRANCE OF PINELANDS DEVELOPMENT CREDITS › Section 3:42-3.3 - Issuance of Pinelands Development Credit Certificates

Current through Register Vol. 56, No. 14, July 15, 2024
(a) The Executive
				Director shall review the application and shall issue a Pinelands Development
				Credit Certificate, in such form as shall from time to time be specified by the
				Board, upon determining that the standards of (b) below are met. If the
				Executive Director determines that the standards are not met, he shall notify
				the applicant in writing of the reasons which prevent the issuance of a
				Certificate.
(b) The Certificate
				shall, at a minimum, specify the following:
1. The owner(s) of the Pinelands Development
				Credits;
2. The number of Pinelands
				Development Credits owned;
3. The
				municipality, block and lot of the property to which the Pinelands Development
				Credits are allocated;
4. The date
				on which the Certificate is issued; and
5. The information to be reported to the
				Executive Director when the Pinelands Development Credits are sold, conveyed,
				transferred, encumbered or redeemed,
				3:42-3.4(c).
New Jersey Administrative Code › Title 3 - BANKING › Chapter 42 - PINELANDS DEVELOPMENT CREDIT BANK › Subchapter 3 - PROCEDURES GOVERNING THE SALE, CONVEYANCE, TRANSFER OR ENCUMBRANCE OF PINELANDS DEVELOPMENT CREDITS › Section 3:42-3.4 - Sale, transfer, conveyance or encumbrance of Pinelands Development Credits after issuance of the Certificate

Current through Register Vol. 56, No. 14, July 15, 2024
(a) Within 10
				business days of the sale, transfer, conveyance or encumbrance of a Pinelands
				Development Credit or interest therein, the grantee shall deliver to the
				Executive Director the Certificate properly documented as to the specifics of
				the transaction as set forth in (c) below.
(b) Upon receipt of the Certificate, the
				Executive Director shall re-issue a Certificate, or Certificates as the case
				may be, in the name of the person or persons who have secured an interest in
				the Pinelands Development Credits.
(c) Notification to the Executive Director
				shall include, but is not necessarily limited to, the following:
1. The name(s) of the grantee(s);
2. The name(s) of the grantor(s);
3. The number of Pinelands Development
				Credits sold, conveyed, transferred, or encumbered;
4. The date of the transaction;
5. The interest in the Pinelands Development
				Credits acquired by the grantee and written evidence of the transaction;
				and
6. The consideration involved
				in the transaction.
7. In the case
				of a Pinelands Development Credit pledged as collateral, the name and address
				of any person who has pledged a Pinelands Development Credit as security on any
				loan or other obligation, the name and address of the lender, and the date,
				amount and term of the loan or obligation.
New Jersey Administrative Code › Title 3 - BANKING › Chapter 42 - PINELANDS DEVELOPMENT CREDIT BANK › Subchapter 3 - PROCEDURES GOVERNING THE SALE, CONVEYANCE, TRANSFER OR ENCUMBRANCE OF PINELANDS DEVELOPMENT CREDITS › Section 3:42-3.5 - Purchases of Pinelands Development Credits in association with conservation or agricultural easements

Current through Register Vol. 56, No. 14, July 15, 2024
(a) In the event
				that any county or agency thereof proposes to acquire a conservation or
				agricultural easement which restricts the use of property in a manner
				consistent with
				7:50-5.4 7 and the Pinelands
				Development Credits which are allocated to the property so restricted, the
				Executive Director shall be authorized to issue the Pinelands Development
				Credit Certificate when settlement on the easement occurs.
(b) In the event the Board determines to
				purchase Pinelands Development Credits pursuant to
				3:42-5.1 et seq., it may authorize
				the Executive Director to complete the purchase, including the issuance of the
				Pinelands Development Credit Certificate, in association with the placement of
				the requisite restriction on the deed to the property.
New Jersey Administrative Code › Title 3 - BANKING › Chapter 42 - PINELANDS DEVELOPMENT CREDIT BANK › Subchapter 3 - PROCEDURES GOVERNING THE SALE, CONVEYANCE, TRANSFER OR ENCUMBRANCE OF PINELANDS DEVELOPMENT CREDITS › Section 3:42-3.6 - Redemption of Pinelands Development Credits

Current through Register Vol. 56, No. 14, July 15, 2024
(a) When Pinelands
				Development Credits are redeemed in association with a development project
				approved by a municipal approval agency, the person redeeming the Pinelands
				Development Credits shall, within 10 business days thereafter, deliver to the
				Executive Director the Certificate properly documented as to the specifics of
				the redemption as set forth in (b) below.
(b) Notification to the Executive Director
				shall include, but is not necessarily limited to, the following:
1. The name of the person
				redeeming;
2. The municipality in
				which the Pinelands Development Credits were redeemed;
3. The municipal tax block and lot number of
				the property for which the Pinelands Development Credits were
				redeemed;
4. The number of
				Pinelands Development Credits redeemed; and
5. The date on which the municipal
				development approval was issued and endorsement by the responsible municipal
				official.
New Jersey Administrative Code › Title 3 - BANKING › Chapter 42 - PINELANDS DEVELOPMENT CREDIT BANK › Subchapter 4 - REGISTRY OF PINELANDS DEVELOPMENT CREDITS › Section 3:42-4.1 - Registry

Current through Register Vol. 56, No. 14, July 15, 2024
(a) The Executive
				Director shall maintain a registry of Pinelands Development Credits, the
				purpose of which shall be to organize information on the following:
1. The issuance of Pinelands Development
				Credit Certificates;
2. The sale,
				transfer, conveyance, or encumbrance of Pinelands Development
				Credits;
3. The use of Pinelands
				Development Credits as security on loans and other obligations; and
4. The redemption and retirement of Pinelands
				Development Credits.
New Jersey Administrative Code › Title 3 - BANKING › Chapter 42 - PINELANDS DEVELOPMENT CREDIT BANK › Subchapter 4 - REGISTRY OF PINELANDS DEVELOPMENT CREDITS › Section 3:42-4.2 - Content of registry

Current through Register Vol. 56, No. 14, July 15, 2024
(a) The registry
				shall at a minimum include the following information:
1. The name and address of every owner to
				whom a Pinelands Development Credit Certificate is issued pursuant to
				3:42-3.3; the date of its issuance;
				the municipal tax lot and block identification of the parcels of land to which
				the Pinelands Development Credit has been allocated; the number of Pinelands
				Development Credits or fraction thereof allocated to each parcel; the total
				number of Pinelands Development Credits allocated; and the total acreage to
				which Pinelands Development Credits have been allocated;
2. The name and address of every person to
				whom a Pinelands Development Credit is sold, transferred, conveyed, or
				encumbered; the date of the conveyance; and the consideration, if any, received
				therefor;
3. The name and address
				of any person who has pledged a Pinelands Development Credit as security on any
				loan or other obligation; the name and address of the lender; and the date,
				amount and term of the loan or obligation;
4. The name and address of any person who has
				redeemed a Pinelands Development Credit; the location of the land to which the
				credit was transferred; and the date this redemption was made; and
5. An annual enumeration of the total number
				of Pinelands Development Credits purchased and transferred, listing the
				municipality in which the land for which each Pinelands Development Credit was
				issued is located, and the municipality to which the Pinelands Development
				Credit was transferred and redeemed.
New Jersey Administrative Code › Title 3 - BANKING › Chapter 42 - PINELANDS DEVELOPMENT CREDIT BANK › Subchapter 4 - REGISTRY OF PINELANDS DEVELOPMENT CREDITS › Section 3:42-4.3 - Availability of registry

Current through Register Vol. 56, No. 14, July 15, 2024
(a) The Executive
				Director shall, upon reasonable notice, make the registry available for public
				inspection at the principal offices of the Bank. It is also available on the
				Bank's website at
http://www.nj.gov/pinelands/pdcbank/
.
(b) The Executive Director shall, upon
				request from any person, provide copies of the registry or any portion thereof.
				A fee for this service shall be charged in accordance with the copy fee
				schedule set forth in N.J.S.A. 47:1A-2.
New Jersey Administrative Code › Title 3 - BANKING › Chapter 42 - PINELANDS DEVELOPMENT CREDIT BANK › Subchapter 4 - REGISTRY OF PINELANDS DEVELOPMENT CREDITS › Section 3:42-4.4 - Annual report

Current through Register Vol. 56, No. 14, July 15, 2024
(a) On August 28 of each calendar year, the
				Board shall issue an annual report to the Governor, the Legislature and each
				county and municipality located in whole or in part within the Pinelands Area.
				Such report shall incorporate and summarize the information contained in the
				registry.
(b) The annual report
				shall also be made available to any person upon request. It is also available
				on the Bank's website at
http://www.nj.gov/pinelands/pdcbank/
.
New Jersey Administrative Code › Title 3 - BANKING › Chapter 42 - PINELANDS DEVELOPMENT CREDIT BANK › Subchapter 5 - BOARD PURCHASE OF PINELANDS DEVELOPMENT CREDITS › Section 3:42-5.1 - Applicability

Current through Register Vol. 56, No. 14, July 15, 2024
(a) The Board may
				purchase Pinelands Development Credits from any person to:
1. Further the objectives of the Pinelands
				Protection Act,
				13:18A-1 et seq., and the
				Pinelands Comprehensive Management Plan,
				7:50-1.1 et seq.; or
2. Alleviate a hardship.
New Jersey Administrative Code › Title 3 - BANKING › Chapter 42 - PINELANDS DEVELOPMENT CREDIT BANK › Subchapter 5 - BOARD PURCHASE OF PINELANDS DEVELOPMENT CREDITS › Section 3:42-5.2 - Application to the Board

Current through Register Vol. 56, No. 14, July 15, 2024
(a) An application
				for the Board's purchase of Pinelands Development Credits shall be made to the
				Executive Director in such form and number as he shall from time to time
				specify.
(b) The Executive Director
				may waive or modify any of the application requirements set forth in (c) below
				if he determines that any required information is not relevant or necessary for
				purposes of evaluating and acting on the application.
(c) The following information shall be
				included in the application:
1. The
				applicant's name and mailing address;
2. The name of the person(s) who own(s) the
				Pinelands Development Credits, if different from the applicant's, and a signed
				consent to the filing of the application;
3. A duplicate of the Pinelands Development
				Credit Certificate or, if a Certificate has not been issued, the information
				required pursuant to
				3:42-3.2(c)  with
				the exception of
				3:42-3.2(c)8.
4. The number of Pinelands Development
				Credits to be sold;
5. A statement
				detailing the applicant's basis for believing that the Board can make one of
				the findings required in
				3:42-5.3(b)3 and
				(c) 3; and
6. Such other information as the Executive
				Director may determine is necessary in order to review and act on the
				application.
New Jersey Administrative Code › Title 3 - BANKING › Chapter 42 - PINELANDS DEVELOPMENT CREDIT BANK › Subchapter 5 - BOARD PURCHASE OF PINELANDS DEVELOPMENT CREDITS › Section 3:42-5.3 - Standards governing the Board$DQ$s decision to purchase

Current through Register Vol. 56, No. 14, July 15, 2024
(a) The Board
				shall, after considering the recommendation of the Executive Director,
				determine whether or not to authorize the purchase of all or a portion of the
				Pinelands Development Credits proposed for sale in the application in
				accordance with the criteria set forth in (b) and (c) below, as
				appropriate.
(b) The Board may
				authorize a purchase of Pinelands Development Credits to further the objectives
				of the Pinelands Protection Act and the Pinelands Comprehensive Management Plan
				if:
1. Adequate funds are available for the
				purchase; and
2. The expenditure of
				funds does not substantially impair the Board's ability to carry out its duties
				and responsibilities with respect to guarantees which have already been
				extended; and
3. The purchase will
				result in:
i. The protection of property
				which is of significant ecological or agricultural importance; or
ii. The protection of property which serves
				to complement or buffer publicly owned and managed conservation lands;
				or
iii. The Pinelands Development
				Credits which the Board purchases are likely to be resold, transferred or
				conveyed for redemption in a residential development project that satisfies
				compelling public need or that will result in the protection of other
				properties which satisfy (b)i or ii above; or
iv. The timing and nature of the Board's
				purchase will result in a significant and positive example of the Pinelands
				Development Credit Program at work; or
v. The proceeds from the sale being used for
				operating or capital expenditures on the property from which the Pinelands
				Development Credits are allocated in a manner consistent with the terms of the
				restriction on the deed to that property; or
vi. The transaction otherwise furthering the
				purposes of the Pinelands Protection Act and the Pinelands Comprehensive
				Management Plan.
New Jersey Administrative Code › Title 3 - BANKING › Chapter 42 - PINELANDS DEVELOPMENT CREDIT BANK › Subchapter 5 - BOARD PURCHASE OF PINELANDS DEVELOPMENT CREDITS › Section 3:42-5.4 - Notification to applicant

Current through Register Vol. 56, No. 14, July 15, 2024
Upon the Board's decision to purchase or not purchase
				  Pinelands Development Credits, the Executive Director shall notify the
				  applicant, in writing, setting forth the basis for the Board's decision.
New Jersey Administrative Code › Title 3 - BANKING › Chapter 42 - PINELANDS DEVELOPMENT CREDIT BANK › Subchapter 5 - BOARD PURCHASE OF PINELANDS DEVELOPMENT CREDITS › Section 3:42-5.5 - Completion of Board authorized purchases

Current through Register Vol. 56, No. 14, July 15, 2024
(a) The Executive
				Director is authorized to complete any and all administrative procedures
				necessary to consummate the purchase of Pinelands Development Credits once
				approved for purchase by the Board.
(b) No Pinelands Development Credit shall be
				purchased by the Board after the date, if any, specified in
				13:18A-48 as the last date on
				which the Board may purchase Pinelands Development Credits.
New Jersey Administrative Code › Title 3 - BANKING › Chapter 42 - PINELANDS DEVELOPMENT CREDIT BANK › Subchapter 5 - BOARD PURCHASE OF PINELANDS DEVELOPMENT CREDITS › Section 3:42-5.6 - Purchase price

Current through Register Vol. 56, No. 14, July 15, 2024
(a) The purchase
				price for Pinelands Development Credits acquired by the Board shall be $ 74,000
				for each Pinelands Development Credit or fraction of that amount which reflects
				that portion of a Pinelands Development Credit so acquired.
(b) The Board may increase the purchase price
				set forth in (a) above if it determines that:
1. The purchase price, as increased, does not
				exceed 80 percent of the market value of Pinelands Development Credits as
				determined by examination and analysis of Pinelands Development Credit sales
				data reported to the Bank pursuant to
				3:42-3.4; provided, however, that
				the Board shall not consider any sales data which does not meet generally
				accepted real estate appraisal practices; and
2. The purchase price, as increased, will not
				substantially impair the private sale of Pinelands Development
				Credits.
New Jersey Administrative Code › Title 3 - BANKING › Chapter 42 - PINELANDS DEVELOPMENT CREDIT BANK › Subchapter 7 - SALE, TRANSFER, EXCHANGE, CONVEYANCE OR RETIREMENT OF PINELANDS DEVELOPMENT CREDITS OWNED BY THE BANK › Part 1 - SALES OF PINELANDS DEVELOPMENT CREDITS › Section 3:42-7.1 - Board decision to hold sale

Current through Register Vol. 56, No. 14, July 15, 2024
(a) The Board
				  may from time to time authorize the Executive Director to sell all or a portion
				  of those Pinelands Development Credits owned by the Bank.
(b) The Board shall authorize such a sale and
				  determine how many Pinelands Development Credits will be made available for
				  sale only upon a finding that:
1. There is
				  sufficient interest in the purchase of its Pinelands Development Credits to
				  warrant a sale; and
2. The timing
				  of the sale and the number of Pinelands Development Credits to be sold will not
				  substantially impair the private sale of Pinelands Development
				  Credits.
New Jersey Administrative Code › Title 3 - BANKING › Chapter 42 - PINELANDS DEVELOPMENT CREDIT BANK › Subchapter 7 - SALE, TRANSFER, EXCHANGE, CONVEYANCE OR RETIREMENT OF PINELANDS DEVELOPMENT CREDITS OWNED BY THE BANK › Part 1 - SALES OF PINELANDS DEVELOPMENT CREDITS › Section 3:42-7.2 - Notifications of upcoming sales

Current through Register Vol. 56, No. 14, July 15, 2024
(a) All sales of
				  Bank-owned Pinelands Development Credits shall be held only after due notice
				  has been given by the Executive Director at least 10 business days prior to the
				  date of the sale.
(b) At a minimum,
				  the Executive Director shall:
1. Have notices
				  of the sale published in at least four newspapers; and
2. Transmit notices to every person who has
				  submitted to the Bank a written request to be informed of upcoming
				  sales.
New Jersey Administrative Code › Title 3 - BANKING › Chapter 42 - PINELANDS DEVELOPMENT CREDIT BANK › Subchapter 7 - SALE, TRANSFER, EXCHANGE, CONVEYANCE OR RETIREMENT OF PINELANDS DEVELOPMENT CREDITS OWNED BY THE BANK › Part 1 - SALES OF PINELANDS DEVELOPMENT CREDITS › Section 3:42-7.3 - Requirements governing all bidding

Current through Register Vol. 56, No. 14, July 15, 2024
(a) Bidders who
				  are acting on behalf of another person shall supply to the Executive Director
				  with their sealed written bid or prior to the commencement of an auction the
				  following:
1. If the bidder is representing
				  an individual, a notarized statement from the individual duly authorizing the
				  bidder to act on his behalf; or
2.
				  If the bidder is representing a corporation, public agency, business trust,
				  partnership, association, two or more persons having a joint or common
				  interest, or any other legal entity, a duly adopted resolution or other legal
				  instrument authorizing the bidder to act on the entity's behalf.
New Jersey Administrative Code › Title 3 - BANKING › Chapter 42 - PINELANDS DEVELOPMENT CREDIT BANK › Subchapter 7 - SALE, TRANSFER, EXCHANGE, CONVEYANCE OR RETIREMENT OF PINELANDS DEVELOPMENT CREDITS OWNED BY THE BANK › Part 1 - SALES OF PINELANDS DEVELOPMENT CREDITS › Section 3:42-7.4 - Additional requirements governing open bidding

Current through Register Vol. 56, No. 14, July 15, 2024
(a) All bidders
				  shall sign a register before the auction begins. After signing the register, no
				  bidder shall be permitted to leave and re-enter the room except at intervals
				  pre-determined by the Executive Director.
(b) Each time a bid is made, the bidder shall
				  state his or her name and the amount of the bid clearly.
(c) All bids during the auction shall be in
				  increments of $ 100.00.
(d) A
				  deposit equal to 10 percent of the highest bid shall be required at the
				  completion of the auction.
1. The deposit
				  shall be in the form of a certified check, cashier check, money order, or
				  travelers check made payable to the State of New Jersey. No exceptions shall be
				  made.
2. If the highest bidder does
				  not have the required deposit, the Executive Director may cancel all bids for
				  that Pinelands Development Credit or fraction thereof, or may award the bid to
				  the second highest bidder.
New Jersey Administrative Code › Title 3 - BANKING › Chapter 42 - PINELANDS DEVELOPMENT CREDIT BANK › Subchapter 7 - SALE, TRANSFER, EXCHANGE, CONVEYANCE OR RETIREMENT OF PINELANDS DEVELOPMENT CREDITS OWNED BY THE BANK › Part 1 - SALES OF PINELANDS DEVELOPMENT CREDITS › Section 3:42-7.5 - Additional requirements governing sealed bids

Current through Register Vol. 56, No. 14, July 15, 2024
(a) All sealed
				  bids shall be submitted to the Executive Director in such form as he or she
				  shall from time to time specify.
(b) Sealed bids shall specify the maximum
				  number of Pinelands Development Credits the bidder wishes to purchase; however,
				  awards will be made to the highest bidder for each one-quarter of a Pinelands
				  Development Credit, or other increment if established by the Board pursuant to
				  3:42-7.3(c).
				  Submission of a sealed bid shall be deemed to be a bid for each one-quarter of
				  a Pinelands Development Credit or other increment and the Board reserves the
				  right to award a bid for less than the maximum number of Pinelands Development
				  Credits specified by the bidder.
(c) Sealed bids will be publicly opened, read
				  and tabulated on the date, time and the location specified in the notice of
				  sale.
(d) Within five business days
				  of the bid opening, the Executive Director will notify all successful and
				  unsuccessful bidders.
(e) A deposit
				  equal to 10 percent of the bid shall accompany all sealed bids.
1. The deposit shall be in the form of a
				  certified check, cashier check, money order, or travelers check made payable to
				  the State of New Jersey. No exceptions shall be made.
2. If a bid is received without the required
				  deposit, the bid shall be deemed to be invalid and will not receive any further
				  consideration.
3. The Executive
				  Director shall return all deposits to all unsuccessful bidders within five
				  business days of the bid opening date.
4. In cases where a bidder is awarded a
				  portion of the Pinelands Development Credits it bid on, the Executive Director
				  shall provide the bidder an opportunity to submit, in lieu of the original
				  deposit, a deposit equal to 10 percent of the award within five business days
				  of the bid opening date. If no such deposit is received, the Executive Director
				  shall accept the original deposit and apply any excess amount toward the
				  payment due at the time of closing.
New Jersey Administrative Code › Title 3 - BANKING › Chapter 42 - PINELANDS DEVELOPMENT CREDIT BANK › Subchapter 7 - SALE, TRANSFER, EXCHANGE, CONVEYANCE OR RETIREMENT OF PINELANDS DEVELOPMENT CREDITS OWNED BY THE BANK › Part 1 - SALES OF PINELANDS DEVELOPMENT CREDITS › Section 3:42-7.6 - Bid awards

Current through Register Vol. 56, No. 14, July 15, 2024
(a) Awards shall
				  be made for each one-quarter of a Pinelands Development Credit, or other
				  increment established by the Board pursuant to
				  3:42-7.3(c),
				  offered for sale.
(b) The total
				  number of Pinelands Development Credits awarded for valid bids shall equal the
				  total number of Pinelands Development Credits offered for sale, except as
				  provided in (e)3 below.
(c) In the
				  case of sealed bids, successful bidders shall be determined by tabulating the
				  bids on the basis of the highest per unit bid.
(d) Once the highest per unit bid is
				  established, the highest bidder will be awarded the total number of Pinelands
				  Development Credits specified in his or her bid. If there is more than one
				  highest bidder and the total number of Pinelands Development Credits specified
				  in those bids exceed the number available, no award shall be made and the
				  Executive Director shall immediately arrange for another open or closed
				  bid.
(e) In the event any Pinelands
				  Development Credits remain, the Executive Director will offer them to the other
				  bidders at a per unit price equal to that of the highest bid.
1. The Executive Director will tender this
				  offer in writing to each bidder within five days of the bid opening.
2. Each bidder may supplement his or her bid
				  in writing and enclose a certified check, cashier check, money order, or a
				  travelers check for the balance of the deposit no later than 10 days of the bid
				  opening.
3. In the event that the
				  maximum number of Pinelands Development Credits specified in those bids exceed
				  that available for sale, the Executive Director shall award the available
				  Pinelands Development Credits to the bidders in descending order of their
				  original bid. If the original bids are equivalent and the number of Pinelands
				  Development Credits specified in those bids exceed the number available, no
				  award shall be made.
New Jersey Administrative Code › Title 3 - BANKING › Chapter 42 - PINELANDS DEVELOPMENT CREDIT BANK › Subchapter 7 - SALE, TRANSFER, EXCHANGE, CONVEYANCE OR RETIREMENT OF PINELANDS DEVELOPMENT CREDITS OWNED BY THE BANK › Part 1 - SALES OF PINELANDS DEVELOPMENT CREDITS › Section 3:42-7.7 - Completion of sales

Current through Register Vol. 56, No. 14, July 15, 2024
(a) Except as
				  otherwise provided in
				  3:42-7.8, all sales shall be
				  completed no earlier than 21 days and no later than 30 days following the
				  award.
(b) Failure of the bidder to
				  pay the balance of the purchase price as scheduled shall be considered to be a
				  breach of contract and the deposit shall be retained by the State as liquidated
				  damages.
(c) Payment of the balance
				  shall be in the form of a certified or cashier check only, made payable to the
				  State of New Jersey.
(d) Upon
				  receipt of payment, the Executive Director shall issue a duly executed
				  Pinelands Development Credit Certificate to the purchaser.
New Jersey Administrative Code › Title 3 - BANKING › Chapter 42 - PINELANDS DEVELOPMENT CREDIT BANK › Subchapter 7 - SALE, TRANSFER, EXCHANGE, CONVEYANCE OR RETIREMENT OF PINELANDS DEVELOPMENT CREDITS OWNED BY THE BANK › Part 1 - SALES OF PINELANDS DEVELOPMENT CREDITS › Section 3:42-7.8 - Deferring the date for completion of sales

Current through Register Vol. 56, No. 14, July 15, 2024
(a) When
				  authorizing a sale, the Board may also authorize the Executive Director to
				  defer the date on which sales to the highest bidder(s) are to be completed.
				  Such authorization shall specify the maximum period of time for such a deferral
				  and all notices of the sale shall include such a notation.
(b) If the Board authorizes deferrals, any
				  successful bidder may, at his or her option, enter into an agreement with the
				  Executive Director which extends the date for completing the sale.
(c) All such agreements shall require that a
				  payment be made for each year, or portion thereof, that the sale completion
				  date is deferred.
1. The thirty-first day
				  following bid award shall be considered the first day when calculating deferral
				  periods.
2. The payment shall be
				  equal to the sum of the prime interest rate in effect on the date of the bid
				  award plus two percentage points times the remaining balance of the purchase
				  price of the Pinelands Development Credits for each year that the completion
				  date is deferred. The payment shall be pro-rated for portions of a
				  year.
3. Payment for the first
				  year, or portion thereof as specified in the agreement, shall be in the form of
				  a certified check, cashier check, money order, or travelers check made payable
				  to the State of New Jersey. This first payment shall be due no later than 30
				  days following the award.
4.
				  Payments for each succeeding year, or portion thereof as specified in the
				  agreement, shall be due no later than the anniversary date of the first
				  payment.
New Jersey Administrative Code › Title 3 - BANKING › Chapter 42 - PINELANDS DEVELOPMENT CREDIT BANK › Subchapter 7 - SALE, TRANSFER, EXCHANGE, CONVEYANCE OR RETIREMENT OF PINELANDS DEVELOPMENT CREDITS OWNED BY THE BANK › Part 1 - SALES OF PINELANDS DEVELOPMENT CREDITS › Section 3:42-7.9 through 3:42-7.10 - Reserved

Current through Register Vol. 56, No. 14, July 15, 2024
New Jersey Administrative Code › Title 3 - BANKING › Chapter 42 - PINELANDS DEVELOPMENT CREDIT BANK › Subchapter 7 - SALE, TRANSFER, EXCHANGE, CONVEYANCE OR RETIREMENT OF PINELANDS DEVELOPMENT CREDITS OWNED BY THE BANK › Part 2 - CONVEYANCE OF BOARD OWNED PINELANDS DEVELOPMENT CREDITS AT NO COST › Section 3:42-7.11 - Board authorization to convey Pinelands Development Credits at no cost

Current through Register Vol. 56, No. 14, July 15, 2024
(a) The Board
				  may authorize the Executive Director to convey at no cost Pinelands Development
				  Credits when it determines that:
1. The
				  proposed development will serve a compelling public purpose;
2. The proposed development could not proceed
				  without the conveyance of Pinelands Development Credits at no cost;
3. The benefit of the conveyance of Pinelands
				  Development Credits at no cost will enure to the public and will be made to a
				  governmental agency or incorporated, not for profit organization;
4. The conveyances of Pinelands Development
				  Credits at no cost will not substantially impair the sale of Pinelands
				  Development Credits in the private market; and
5. The Pinelands Development Credit being
				  conveyed will be redeemed within one year of the Board's
				  authorization.
New Jersey Administrative Code › Title 3 - BANKING › Chapter 42 - PINELANDS DEVELOPMENT CREDIT BANK › Subchapter 7 - SALE, TRANSFER, EXCHANGE, CONVEYANCE OR RETIREMENT OF PINELANDS DEVELOPMENT CREDITS OWNED BY THE BANK › Part 2 - CONVEYANCE OF BOARD OWNED PINELANDS DEVELOPMENT CREDITS AT NO COST › Section 3:42-7.12 - Application for conveyance of Board-owned Pinelands Development Credits at no cost

Current through Register Vol. 56, No. 14, July 15, 2024
(a) Application
				  for conveyance of Board-owned Pinelands Development Credits at no cost shall be
				  made to the Executive Director in such form and number as he or she shall from
				  time to time specify.
(b) The
				  Executive Director may waive or modify any of the application requirements set
				  forth in (c) below if he or she determines that any required information is not
				  relevant or necessary for the purposes of conveying Pinelands Development
				  Credits at no cost.
(c) The
				  following information shall be included in applications for conveyance of
				  Board-owned Pinelands Development Credits at no cost:
1. The applicant's name and mailing
				  address;
2. The municipality in
				  which the Pinelands Development Credits are to be redeemed;
3. The number of Pinelands Development
				  Credits needed;
4. A duly adopted
				  resolution granting preliminary subdivision or site plan approval pursuant to
				  the Municipal Land Use Law (40:55D-1 et
				  seq.);
5. Written affirmation of
				  the subdivision or site plan approval from the Pinelands Commission;
6. The municipal tax block and lot number for
				  which the Pinelands Development Credits will be redeemed;
7. A written description of the property
				  along with any relevant plans; and
8. A written statement addressing the
				  project's consistency with the standards set forth in
				  3:42-7.1 1.
New Jersey Administrative Code › Title 3 - BANKING › Chapter 42 - PINELANDS DEVELOPMENT CREDIT BANK › Subchapter 7 - SALE, TRANSFER, EXCHANGE, CONVEYANCE OR RETIREMENT OF PINELANDS DEVELOPMENT CREDITS OWNED BY THE BANK › Part 2 - CONVEYANCE OF BOARD OWNED PINELANDS DEVELOPMENT CREDITS AT NO COST › Section 3:42-7.13 - Notification to applicant

Current through Register Vol. 56, No. 14, July 15, 2024
Upon the Board's decision on an application for conveyance
					 of Board-owned Pinelands Development Credits, the Executive Director shall
					 notify the applicant, in writing, setting forth the basis for the Board's
					 decision.
New Jersey Administrative Code › Title 3 - BANKING › Chapter 42 - PINELANDS DEVELOPMENT CREDIT BANK › Subchapter 7 - SALE, TRANSFER, EXCHANGE, CONVEYANCE OR RETIREMENT OF PINELANDS DEVELOPMENT CREDITS OWNED BY THE BANK › Part 2 - CONVEYANCE OF BOARD OWNED PINELANDS DEVELOPMENT CREDITS AT NO COST › Section 3:42-7.14 - Completion of Board-authorized conveyances

Current through Register Vol. 56, No. 14, July 15, 2024
The Executive Director is authorized to complete any and
					 all administrative procedures to consummate the conveyance after approval by
					 the Board provided that no conveyance shall be made until such time as the
					 applicant is required to redeem the Pinelands Development Credits.
New Jersey Administrative Code › Title 3 - BANKING › Chapter 42 - PINELANDS DEVELOPMENT CREDIT BANK › Subchapter 7 - SALE, TRANSFER, EXCHANGE, CONVEYANCE OR RETIREMENT OF PINELANDS DEVELOPMENT CREDITS OWNED BY THE BANK › Part 2 - CONVEYANCE OF BOARD OWNED PINELANDS DEVELOPMENT CREDITS AT NO COST › Section 3:42-7.15 - Voiding conveyances

Current through Register Vol. 56, No. 14, July 15, 2024
(a) No Pinelands
				  Development Credits conveyed pursuant to this part shall be:
1. Conveyed, sold or transferred to a person
				  other than that who received the Board's approval;
2. Redeemed for use in a project other than
				  that which received the Board's approval; and/or
3. Redeemed after one year following the
				  Board's authorization.
New Jersey Administrative Code › Title 3 - BANKING › Chapter 42 - PINELANDS DEVELOPMENT CREDIT BANK › Subchapter 9 - AMENDMENTS › Section 3:42-9.1 - Board initiated proposals

Current through Register Vol. 56, No. 14, July 15, 2024
(a) The Board may,
				at its own initiative or upon the recommendation of the Executive Director,
				periodically consider revisions to these rules in this chapter.
(b) Any such revisions shall be considered
				pursuant to the Administrative Procedure Act,
				52:14B-1 et seq.
New Jersey Administrative Code › Title 3 - BANKING › Chapter 42 - PINELANDS DEVELOPMENT CREDIT BANK › Subchapter 9 - AMENDMENTS › Section 3:42-9.2 - Petitions for amendment

Current through Register Vol. 56, No. 14, July 15, 2024
(a) Any interested
				person may petition the Board for an amendment to the rules in this chapter by
				filing an application with the Executive Director in such form and number as he
				shall from time to time specify.
(b) The application shall include the
				following:
1. The petitioner's name and
				address;
2. The precise wording of
				any proposed amendment to the text of the rules in this chapter;
3. A statement of the need and justification
				for the proposed amendment;
4. A
				statement as to the conformity of the proposed amendment to the Pinelands
				Development Credit Bank Act; and
5.
				A statement of the social, economic and environmental impacts of the proposed
				amendment.
New Jersey Administrative Code › Title 3A - CHILDREN AND FAMILIES › Chapter 1 - ORGANIZATION OF THE DEPARTMENT OF CHILDREN AND FAMILIES › Subchapter 1 - ORGANIZATION › Section 3A:1-1.1 - Mission of the Department

Current through Register Vol. 56, No. 14, July 15, 2024
The mission of the Department is to ensure the safety, well-being,
				  and success of children and families in partnership with New Jersey's
				  communities.
New Jersey Administrative Code › Title 3A - CHILDREN AND FAMILIES › Chapter 1 - ORGANIZATION OF THE DEPARTMENT OF CHILDREN AND FAMILIES › Subchapter 1 - ORGANIZATION › Section 3A:1-1.2 - Description of the Department

Current through Register Vol. 56, No. 14, July 15, 2024
(a) The Department
				of Children and Families consists of the following divisions and offices:
1. Division of Child Protection and
				Permanency;
2. Division of Children's
				System of Care;
3. Division of Family
				and Community Partnerships;
4. Division
				on Women;
5. Office of Adolescent
				Services;
6. Office of
				Advocacy;
7. Office of
				Education;
8. Office of Licensing;
				and
9. Institutional Abuse Investigation
				Unit.
New Jersey Administrative Code › Title 3A - CHILDREN AND FAMILIES › Chapter 1 - ORGANIZATION OF THE DEPARTMENT OF CHILDREN AND FAMILIES › Subchapter 1 - ORGANIZATION › Section 3A:1-1.3 - Communication with the Department

Current through Register Vol. 56, No. 14, July 15, 2024
(a) Any person
				shall report a suspected abused or neglected child to the Department's State Central
				Registry at 1-877-NJABUSE (1-877-652-2873).
(b) Any person can obtain information about the
				Department and its services at:
www.nj.gov/dcf
.
(c) Any person can receive program and funding
				updates by enrolling in the Department's mailing list at:
www.nj.gov/dcf/contact/mailinglist.html
.
(d) Any person can request information or make
				submissions to the Department by:
1. E-mailing the
				Department at: askdcf@dcf.nj.gov;
2.
				Writing to:
Department of Children and Families
PO Box 717
Trenton, New Jersey 08625; or
3. Telephoning the Department at 1-877-543-7864
				Monday through Friday from 8:30 A.M. to 4:30 P.M., excepting State
				holidays.
New Jersey Administrative Code › Title 3A - CHILDREN AND FAMILIES › Chapter 2 - RULEMAKING PROCEDURES › Subchapter 1 - GENERAL PROVISIONS › Section 3A:2-1.1 - Purpose

Current through Register Vol. 56, No. 14, July 15, 2024
The purpose of this chapter is to allow the Department of Children
				  and Families to comply with New Jersey statutes and rules regarding
				  rulemaking.