11. a. There is created in the Department of Environmental Protection, a special non-lapsing fund to be known as the “Electronic Waste Management Fund.” The monies in the fund are dedicated and shall be used only to carry out the purposes enumerated in subsection b. of this section. The fund shall be credited with all revenues collected and deposited in the fund pursuant to section 17 of P.L.2007, c.347 (C. 13:1E-99.110), and sections 6, 8, and 10 of P.L.2016, c.87 (C.13:1E-99-105a, C.13:1E-99.105b, and C. 13:1E-99.105d), all interest and other income received from the investment of monies in the fund, and any monies which, from time to time, may otherwise become available for the purposes of the fund. Pending the use thereof pursuant to the provisions of subsection b. of this section, the monies deposited in the fund shall be held in interest-bearing accounts in public depositories, as defined pursuant to section 1 of P.L.1970, c.236 (C. 17:9-41), and may be invested or reinvested in such securities as are approved by the State Treasurer. Interest or other income earned on monies deposited into the fund shall be credited to the fund for use as set forth in subsection b. of this section for other monies in the fund.

b. Monies deposited in the “Electronic Waste Management Fund” shall be used only for:

(1) the administration and enforcement of P.L.2007, c.347 (C. 13:1E-99.94 et seq.); and

(2) any costs associated with the collection, transportation, and recycling of covered electronic devices pursuant to section 6 of P.L.2016, c.87 (C. 13:1E-99.105a); and

(3) the proper removal and disposition of covered electronic devices that have been improperly abandoned, discarded, or otherwise disposed of on the lands or waters of the State.

L.2016, c.87, s.11.