New Jersey Statutes 45:14-82.9. Reporting entity, register, Division of Consumer Affairs, deadline, exceptions; Director, certify actual, prospective costs, Division; requests, payment, final assessments
Terms Used In New Jersey Statutes 45:14-82.9
- Equitable: Pertaining to civil suits in "equity" rather than in "law." In English legal history, the courts of "law" could order the payment of damages and could afford no other remedy. See damages. A separate court of "equity" could order someone to do something or to cease to do something. See, e.g., injunction. In American jurisprudence, the federal courts have both legal and equitable power, but the distinction is still an important one. For example, a trial by jury is normally available in "law" cases but not in "equity" cases. Source: U.S. Courts
- Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
b. (1) With exception to pharmacy services administrative organizations, each reporting entity shall pay an annual assessment set by the division to support the operational costs of the division’s activities as required by P.L.2023, c.106 (C. 45:14-82.2 et seq.), including funding necessary to support the Drug Affordability Council. Operational costs shall include staff salaries, administrative expenses, data system expenses, and consulting fees of the division to effectuate the provisions of P.L.2023, c.106 (C. 45:14-82.2 et seq.). The Director of the Division of Consumer Affairs shall certify actual and prospective costs of the division’s activities under P.L.2023, c.106 (C. 45:14-82.2 et seq.), which costs shall be the basis for the establishment of the annual assessment. The division shall not vary the amount of annual assessment based on whether a reporting entity is a carrier, pharmacy benefits manager, wholesaler, manufacturer, or other entity. If the total amount of the assessment that the division collects in a calendar year exceeds the operational costs certified by the division pursuant to this subsection, the division shall issue a notice of such surplus and remit the surplus funds in a timely, fair, and equitable manner across all reporting entities that paid the assessment. Penalties collected pursuant to section 7 of P.L.2023, c.106 (C. 45:14-82.8) shall not be refunded pursuant to this subsection.
(2) A pharmacy services administrative organization shall be subject to an annual assessment, to be determined by the Director of the Division of Consumer Affairs, which is separate from the annual assessment required pursuant to paragraph (1) of this subsection.
(3) Requests for payment of the final assessments shall be sent by the division to all reporting entities under P.L.2023, c.106 (C. 45:14-82.2 et seq.). The division shall allow reporting entities to make partial payments when paying the assessment required under this subsection, with the final payment, as well as any amounts remaining uncollected from the assessment of the previous fiscal year, to be made no later than December 31 of a given reporting year.
L.2023, c.106, s.8.