5. The authority may promulgate rules and regulations necessary for the effective implementation of P.L.2008, c.112 (C. 34:1B-237 et seq.). Notwithstanding any provision of the “Administrative Procedure Act,” P.L.1968, c.410 (C. 52:14B-1 et seq.) to the contrary, the authority may adopt, immediately upon filing with the Office of Administrative Law, such regulations as are necessary to implement the provisions of P.L.2008, c.112 (C. 34:1B-237 et seq.), which shall be effective for a period not to exceed 12 months following enactment, and may thereafter be amended, adopted, or readopted by the authority in accordance with the requirements of the “Administrative Procedure Act,” P.L.1968, c.410 (C. 52:14B-1 et seq.). Such regulations may include, but shall not be limited to: examples of and the determination of capital investment; the determination of the limits, if any, on the expense or type of furnishings that may constitute capital investments; and the promulgation of procedures and forms necessary to apply for a benefit under P.L.2008, c.112 (C. 34:1B-237 et seq.).

L.2008, c.112, s.5.