New Jersey Statutes 34:1B-376. Report to Governor, Legislature
Terms Used In New Jersey Statutes 34:1B-376
- Foreclosure: A legal process in which property that is collateral or security for a loan may be sold to help repay the loan when the loan is in default. Source: OCC
- State: extends to and includes any State, territory or possession of the United States, the District of Columbia and the Canal Zone. See New Jersey Statutes 1:1-2
(2) No later than 18 months after an authorized municipality or a county establishes a local C-PACE program pursuant to section 6 of P.L.2021, c.201 (C. 34:1B-379), and annually thereafter, the municipality or county shall prepare and submit to the Governor, the authority, and, pursuant to section 2 of P.L.1991, c.164 (C. 52:14-19.1), the Legislature, a report describing the implementation and operation of its local C-PACE program, including information relating to any administrative costs, the number of C-PACE projects, the location of C-PACE projects, and the amount of financing issued for C-PACE projects under its local C-PACE program.
b. (1) No later than five years after the launch date, the authority shall prepare and submit to the Governor and, pursuant to section 2 of P.L.1991, c.164 (C. 52:14-19.1), to the Legislature, a report that reviews and assesses implementation of the Garden State C-PACE program. The report shall evaluate the Garden State C-PACE program, including a review of foreclosure rates and any other factors the authority deems appropriate. The report may also identify and recommend legislative changes to P.L.2021, c.201 (C. 34:1B-374 et al.). The report shall include an assessment of whether the costs incurred in implementing the Garden State C-PACE Program are an effective means of facilitating the financing of projects.
(2) No later than five years after an authorized municipality or a county establishes a local C-PACE program pursuant to section 6 of P.L.2021, c.201 (C. 34:1B-379), the municipality or county shall prepare and submit to the Governor, the authority and, pursuant to section 2 of P.L.1991, c.164 (C. 52:14-19.1), the Legislature, a report that reviews and assesses implementation of the local C-PACE program. The report shall evaluate its local C-PACE program, including a review of foreclosure rates and any other factors the authority deems appropriate. The report may also identify and recommend legislative changes to P.L.2021, c.201 (C. 34:1B-374 et al.).
c. The authority shall post all reports prepared by the authority pursuant to this section on its Internet website. Each authorized municipality and each county that has established a local C-PACE program shall post all reports prepared by it pursuant to this section on its Internet website.
L.2021, c.201, s.3.