N.J. Admin. Code § 15:27-2.14

Current through Register Vol. 56, No. 24, December 18, 2024

Section 15:27-2.14 - Release of funds from the Trust Account to the Trust Fund

(a) Upon the action of the Board to certify a donation and after the expiration of the Governor's review period, the Board shall forward to the State Treasurer, either individually or in the aggregate, a statement of the restricted and unrestricted donations from qualified organizations approved at regularly scheduled meetings of the Board and request a transfer of funds from the Trust Account to the Trust Fund.

(b) Within 30 days of receipt of the statement listing the approved certified restricted and unrestricted donations, the State Treasurer will transfer a dollar for dollar match from the Trust Account to the Trust Fund for the purpose of accruing interest pursuant to N.J.A.C. 15:27-2.1 2.