13:8C-51 "Preserve New Jersey Historic Preservation Fund."

9. a. The State Treasurer shall establish a fund to be known as the "Preserve New Jersey Historic Preservation Fund" and shall deposit all moneys received pursuant to paragraph (4) of subsection a. of section 5 of P.L.2016, c.12 (C.13:8C-47), paragraph (3) of subsection a. of section 1 of P.L.2019, c.136 (C.13:8C-47.1), and any other moneys appropriated by law for deposit into the fund.

Moneys in the fund shall be invested in permitted investments or shall be held in interest-bearing accounts in those depositories as the State Treasurer may select, and may be invested and reinvested in permitted investments or as other trust funds in the custody of the State Treasurer in the manner provided by law. All interest or other income or earnings derived from the investment or reinvestment of moneys in the fund shall be credited to the fund.

b. (1) The moneys in the fund are specifically dedicated and shall be used for:

(a) the same purposes as those set forth in section 41 of P.L.1999, c.152 (C.13:8C-41);

(b) emergency intervention and the acquisition of historic preservation easements;

(c) matching grants to the Department of Environmental Protection to meet the cost of preservation of State-owned historic properties; and

(d) the purposes as provided in paragraphs (2) and (3) of this subsection.

(2) Notwithstanding any provision of P.L.2016, c.12 (C.13:8C-43 et seq.) or P.L.1999, c.152 (C.13:8C-1 et seq.) to the contrary, the Palisades Interstate Park Commission established pursuant to P.L.1980, c.104 (C.32:14-1.1 et seq.) shall be eligible for grants pursuant to the provisions of section 41 of P.L.1999, c.152 (C.13:8C-41) for projects located in New Jersey. A project by the Palisades Interstate Park Commission for historic preservation purposes shall be subject to the same criteria and conditions set forth in section 41 of P.L.1999, c.152 (C.13:8C-41) applicable to a project by a local government unit.

(3) Notwithstanding any provision of P.L.2016, c.12 (C.13:8C-43 et seq.) or P.L.1999, c.152 (C.13:8C-1 et seq.) to the contrary, an amount not to exceed $500,000 may be appropriated from the Preserve New Jersey Historic Preservation Fund to the New Jersey Historic Trust for the purposes of establishing an electronic database to track projects that receive funding for historic preservation purposes.

c. Moneys in the fund shall not be expended except in accordance with appropriations from the fund made by law. Any act appropriating moneys from the Preserve New Jersey Historic Preservation Fund shall identify any particular project or projects to be funded by the moneys, and any expenditure for a project for which the location is not identified by municipality and county in the appropriation shall require the approval of the Joint Budget Oversight Committee, or its successor.

d. Unexpended moneys due to project withdrawals, cancellations, or cost savings shall be returned to the fund.

L.2016, c.12, s.9; amended 2019, c.136, s.5.