1. a. Any airport that has been awarded a grant provided through the “Airport Safety Fund” established pursuant to section 4 of P.L.1983, c.264 (C. 6:1-92) or under the Department of Transportation’s Airport Improvement Program on or after January 1, 2019, may be allowed, at the sole discretion of the Commissioner of Transportation, to carry over grant money awarded from the Airport Safety Fund or under the department’s Airport Improvement Program into future fiscal years, without the funds being rescinded by the department, provided that:

(1) the airport has applied for any necessary municipal or county approvals, or both, as applicable;

(2) the airport submits to the department a schedule of the expected expenditure of such money;

(3) the use of such money is authorized pursuant to the grant agreement, the “New Jersey Airport Safety, Security and Improvement Act,” P.L.1983, c.264 (C. 6:1-89 et al.), the Airport Improvement Program, or, as applicable, a combination thereof; and

(4) any such carryover is not incompatible with federal aid or assistance overseen by the department.

b. The Department of Transportation may promulgate rules and regulations concerning the carryover of grant money pursuant to this section.

L.2023, c.209.