N.J. Admin. Code § 7:26-2C.5

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

Section 7:26-2C.5 - Development of the Silver Track II Covenant

(a) Once the Department approves an application for a facility to participate in Silver Track II, and prior to the participating entity being entitled to regulatory flexibility, the Department and the participating entity shall develop a Silver Track II Covenant, which will have a minimum term of five years and shall become effective upon execution by both the participating entity's responsible official and the Commissioner, or a duly authorized representative of the Department.

(b) The Silver Track II Covenant shall include the following:

1. The commitments made by the Silver Track II participating entity to comply with the provisions set forth in N.J.A.C. 7:26-2C.6, 2C.7 and 2C.8; and

2. The regulatory flexibilities and incentives offered by the Department to the participating entity set forth in N.J.A.C. 7:26-2C.9.

(c) If, at any time during the Silver Track II Covenant term, a participating entity anticipates an inability to meet a commitment set forth in its Silver Track II Covenant, the Silver Track II participating entity shall submit the following to the New Jersey Department of Environmental Protection, Division of Sustainable Waste Management, Bureau of Solid Waste Permitting, Mail Code 401-02C, PO Box 420, 401 East State Street, Trenton, New Jersey 08625-0420, in writing, 10 days before such failure is expected to occur:

1. An explanation of why the participating entity will not meet such commitment;

2. The measures the participating entity will take to meet such commitment, and an anticipated date when such commitment will be satisfied; and

3. An explanation of whether the reasons for the participating entity's not meeting the commitment were within the entity's control.

(d) After reviewing the information provided in accordance with N.J.A.C. 7:26-2C.4(c), the Department may grant the participating entity a one-time extension, not to exceed one year, to meet the stated commitment. The Department will determine the duration of the extension in consultation with the participating entity. The Department and the participating entity will revise the Silver Track II Covenant to reflect the new deadline. At such time, with the concurrence of the Department, the entity may also change its originally stated plans for meeting its commitments. For example, the participating entity may decide to use GHG emission credits in accordance with the procedures contained in the Department's proposed Open Market Emission Trading Rules, N.J.A.C. 7:27-30, to meet its GHG emission reduction requirement.

N.J. Admin. Code § 7:26-2C.5

Administrative Change, 51 N.J.R. 729(a).

Administrative Change, 55 N.J.R. 1922(b), effective 7/31/2023