8. a. There is established within the “hunters’ and anglers’ license fund,” created pursuant to the provisions of R.S.23:3-11 and R.S.23:3-12, a separate and dedicated account to be known as the “Oyster Resource Development Account.” This account shall be credited with all revenues received from oysters landed from the Delaware River, Delaware Bay and their tributaries, including, but not limited to, all fees collected pursuant to R.S.50:1-18, R.S.50:3-2, and section 4 of P.L.1945, c.39 (C. 50:3-20.13), and as provided in subsection c. of this section. The moneys in the account shall be allocated to the Division of Fish and Wildlife within the Department of Environmental Protection and shall be disbursed only for the enhancement and management of the oyster resource in the Delaware Bay in the amounts and manner prescribed by the commissioner, after consultation with the Delaware Bay Section of the Shellfisheries Council.

b. The Department of Environmental Protection shall adopt, pursuant to the “Administrative Procedure Act,” P.L.1968, c.410 (C. 52:14B-1 et seq.), rules and regulations necessary to administer the “Oyster Resource Development Account,” established pursuant to subsection a. of this section.

c. Upon the adoption of the rules and regulations pursuant to subsection b. of this section, the Department of Environmental Protection shall repeal subchapter 4 of chapter 25A of Title 7 of the New Jersey Administrative Code establishing the “oyster cultch program” and the “Oyster Cultch Fund.” The balance of the moneys remaining in the “Oyster Cultch Fund” upon the date of the repeal of the rules and regulations establishing the fund shall be deposited in the “Oyster Resource Development Account,” established pursuant to subsection a. of this section.

L.1996, c.112, s.8; amended 2007, c.338, s.4.