A 3735 — "Polluters Pay to Make New Jersey More Affordable Act"; imposes cost recovery payments on certain fossil fuel companies for funds needed for climate change adaptation; establishes program in DEP to collect and oversee distribution of funds.**

     (6)(6)   to1[to borrow money and to issue its bonds, notes or other obligations and to secure them by its revenues or other funds and otherwise to provide for and secure the payment thereof and to provide for the rights of the holders thereof and to provide for the refunding thereof, all as provided in this act;

     (7)(7)   toto issue subordinated indebtedness and to enter into any revolving credit agreement, agreement establishing a line of credit or letter of credit, reimbursement agreement, interest rate exchange agreement, insurance contract, surety bond, commitment to purchase or sell bonds, notes, or other obligations, purchase or sale agreement, or commitments or other contracts or agreements, and other security agreements as approved by the trust in connection with the issuance of bonds, notes, or other obligations;

     (8)(8)   subjectsubject to any agreement with the holders of bonds, notes, or other obligations, to invest moneys of the trust not required for immediate use, including proceeds from the sale of any bonds, notes, or other obligations, in obligations, securities, and other investments as the trust shall deem prudent;

     (9)(9)   subjectsubject to any agreement with the holders of bonds, notes, or other obligations, to invest moneys of the trust not required for immediate use, including proceeds from the sale of any bonds, notes, or other obligations, in obligations, securities and other investments as the trust shall deem prudent;

     (10)(10)]1  forfor its sole purpose as established in this section, to appoint and employ an executive director and such additional officers, who need not be members of the trust, and such other personnel and staff as it may require, at an annual expense not to exceed $250,000, all without regard to the provisions of Title 11A, Civil Service, of the New Jersey Statutes;

     (11)1[(11)]  to(7)1  to do and perform any acts and things authorized by this act under, through, or by means of its officers, agents, or employees or by contract with any person, firm, or corporation or any public body;

     (12)1[(12)]  to(8)1  to procure insurance against any losses in connection with its property, operations, assets, or obligations in amounts and from insurers as it deems desirable;

     (13)1[(13)]  to(9)1  to adopt, pursuant to the “Administrative Procedure Act,” P.L.1968, c.410 (C.52:14B-1 et seq.) such rules and regulations as it deems necessary to effectuate the purposes of the trust;

     (14)1[(14)]  to(10)1  to make and enter into any and all contracts and agreements which the trust determines are necessary, incidental, convenient or desirable to the performance of its duties and the execution of its powers under this act;

     (15)1[(15)]  to(11)1  to accept and use any funds appropriated and paid by the State to the trust, including, without limitation, appropriations and payments from the Climate Adaptation, Resiliency, and Affordability Fund established pursuant to section 161[16] 111 of this act, for the purposes for which the appropriations and payments are made;

     (16)1[(16)]  to(12)1  to apply for, and receive and accept, appropriations or grants of property, money, services, or reimbursements for money previously spent and other assistance offered or made available to it by or from any person, government agency, public authority, or any public or private entity whatever for any lawful corporate purpose of the trust, including, without limitation, grants, appropriations, or reimbursements from the federal government, and to apply and negotiate for these upon such terms and conditions as may be required by any person, government agency, authority, or entity as the trust may determine to be necessary, convenient, or desirable, provided that all such moneys, grants, appropriations, and reimbursements so received and accepted shall be subject to appropriation by law pursuant to the procedures established by this act;

and      (17)1[(17)]  to(13)1  to do any and all things necessary, incidental, convenient, or desirable to carry out its purposes and exercise the powers given and granted in this act.

       9. 1[9.  a.  The trust shall have the power and is hereby authorized to issue its bonds, notes, or other obligations in principal amounts as determined by the trust to be necessary to provide for any of its corporate purposes, including the payment, funding, or refunding of the principal of, or interest on, or redemption premiums, if any, on bonds, notes, or other obligations issued by it, whether the bonds, notes, obligations or interest to be funded or refunded have or have not become due;

     n.  The Joint Budget Oversight Committee, or its successor, shall, however, review all information and reports submitted in accordance with this section and may, on its own initiative, make observations and recommendations to the trust or to the Legislature, or both, as it deems appropriate.appropriate.]1        1[10.  a.  In any resolution of the trust authorizing or relating to the issuance of any bonds, notes, or other obligations or in any indenture securing the bonds, notes, or other obligations, the trust, in order to secure the payment of the bonds, notes, or other obligations and in addition to its other powers, shall have the power by provisions therein, which shall constitute covenants by the trust and contracts with the holders of the bonds, notes, or other obligations, to:

       10.  a.  In any resolution of the trust authorizing or relating to the issuance of any bonds, notes, or other obligations or in any indenture securing the bonds, notes, or other obligations, the trust, in order to secure the payment of the bonds, notes, or other obligations and in addition to its other powers, shall have the power by provisions therein, which shall constitute covenants by the trust and contracts with the holders of the bonds, notes, or other obligations, to:

     d.  The trust may establish reserves, funds or accounts as may be, in its discretion, necessary or desirable to further the accomplishment of the purposes of the trust or to comply with the provisions of any agreement made by, or any resolution of, the trust.trust.]1        1[11.  The State does hereby pledge to and covenant and agree with the holders of any bonds, notes, or other obligations issued or incurred pursuant to the authorization of this act that the State will not limit or alter the rights or powers hereby vested in the trust in any way that would jeopardize the interest of the holders of the bonds, notes, or other obligations or inhibit or prevent performance or fulfillment by the trust of the terms of any agreement made with the holders of the bonds, notes, or other obligations, or prevent the trust from obtaining sufficient revenues which, together with other available funds, shall be sufficient to meet all expenses of the trust and fulfill the terms of any agreement made with the holders of the bonds, notes, or other obligations, together with interest thereon, with interest on any unpaid installments of interest, and all costs and expenses in connection with any action or proceedings by or on behalf of the holders, as provided in any agreement provided for in this act, until the bonds, notes, or other obligations, together with interest thereon, are fully met and discharged or provided for.  The failure of the State to appropriate moneys for any purpose of this act shall not be deemed or construed to be a violation of this section.]1      1[12.  The State and all public officers, governmental units, and agencies thereof, all banks, trust companies, savings banks, and institutions, building and loan associations, savings and loan associations, investment companies, and other persons carrying on a banking business, all insurance companies, insurance associations, and other persons carrying on an insurance business, and all executors, administrators, guardians, trustees, and other fiduciaries may legally invest any sinking funds, moneys, or other funds belonging to them or within their control in any bonds, notes, or other obligations issued pursuant to this act, and the bonds, notes, or other obligations shall be authorized security for any and all public deposits.]1        1[13.  All property of the trust is declared to be public property devoted to an essential public and governmental function and purpose and shall be exempt from all taxes and special assessments of the State or any political subdivision thereof.  All bonds, notes, or other obligations issued pursuant to this act are hereby declared to be issued by a body corporate and politic of the State and for an essential public and governmental purpose and the bonds, notes, and other obligations, and the interest thereon and the income therefrom, and all funds, revenues, income and other moneys received, or to be received, by the trust and pledged or available to pay or secure the payment of the bonds, notes, and other obligations, or interest thereon, shall at all times be exempt from taxation, except for transfer inheritance and estate taxes.]1        1[14.] 9.1  a.  On or before the first day of September in each year, commencing with the calendar year after the effective date of this act, the trust shall make an annual report of its activities for the preceding State fiscal year to the Governor and, pursuant to section 2 of P.L.1991, c.164 (C.52:14-19.1), to the Legislature, in addition to responding to other requests made by the Legislature from time to time.  The report shall set forth a complete operating and financial statement covering its operations during the year.

       11.  The State does hereby pledge to and covenant and agree with the holders of any bonds, notes, or other obligations issued or incurred pursuant to the authorization of this act that the State will not limit or alter the rights or powers hereby vested in the trust in any way that would jeopardize the interest of the holders of the bonds, notes, or other obligations or inhibit or prevent performance or fulfillment by the trust of the terms of any agreement made with the holders of the bonds, notes, or other obligations, or prevent the trust from obtaining sufficient revenues which, together with other available funds, shall be sufficient to meet all expenses of the trust and fulfill the terms of any agreement made with the holders of the bonds, notes, or other obligations, together with interest thereon, with interest on any unpaid installments of interest, and all costs and expenses in connection with any action or proceedings by or on behalf of the holders, as provided in any agreement provided for in this act, until the bonds, notes, or other obligations, together with interest thereon, are fully met and discharged or provided for.  The failure of the State to appropriate moneys for any purpose of this act shall not be deemed or construed to be a violation of this section.

       12.  The State and all public officers, governmental units, and agencies thereof, all banks, trust companies, savings banks, and institutions, building and loan associations, savings and loan associations, investment companies, and other persons carrying on a banking business, all insurance companies, insurance associations, and other persons carrying on an insurance business, and all executors, administrators, guardians, trustees, and other fiduciaries may legally invest any sinking funds, moneys, or other funds belonging to them or within their control in any bonds, notes, or other obligations issued pursuant to this act, and the bonds, notes, or other obligations shall be authorized security for any and all public deposits.

     13.  All property of the trust is declared to be public property devoted to an essential public and governmental function and purpose and shall be exempt from all taxes and special assessments of the State or any political subdivision thereof.  All bonds, notes, or other obligations issued pursuant to this act are hereby declared to be issued by a body corporate and politic of the State and for an essential public and governmental purpose and the bonds, notes, and other obligations, and the interest thereon and the income therefrom, and all funds, revenues, income and other moneys received, or to be received, by the trust and pledged or available to pay or secure the payment of the bonds, notes, and other obligations, or interest thereon, shall at all times be exempt from taxation, except for transfer inheritance and estate taxes.

       14.  a.  On or before the first day of September in each year, commencing with the calendar year after the effective date of this act, the trust shall make an annual report of its activities for the preceding State fiscal year to the Governor and, pursuant to section 2 of P.L.1991, c.164 (C.52:14-19.1), to the Legislature, in addition to responding to other requests made by the Legislature from time to time.  The report shall set forth a complete operating and financial statement covering its operations during the year.

       15. 1[15.] 10.1  All officers, departments, boards, agencies, divisions, and commissions of the State are hereby authorized and empowered to render any and all services to the trust as may be within the area of their respective governmental functions as fixed or established by law, and as may be requested by the trust.  Insofar as possible, the cost and expense of any services shall be met and provided for by those officers, departments, boards, agencies, divisions, and commissions.

       16. 1[16.] 11.1  a.  There is established in the Department of the Treasury a special, nonlapsing fund to be known as the “Climate Adaptation, Resiliency, and Affordability Fund.”  Moneys in the fund shall be held separately and be dedicated solely for the purposes of this act.

     (1)(1)   costcost recovery payments distributed to the fund pursuant to section 5 of this act;

     (2)(2)   the1[the proceeds of any bond issuance carried out by the trust pursuant to sections 9 through 12 of this act;

     (3)(3)]1   anyany other moneys appropriated by the Legislature or otherwise made available to the fund for the purposes of this act;

     (4)1[(4)]  other(3)1  other gifts, donations, or other moneys received from any source, public or private, dedicated for deposit into the fund and approved by the State Treasurer;

and      (5)1[(5)]  any(4)1  any interest earnings or other investment income earned or received on the moneys in the fund.

     c.  (1)(1)   ThereThere is established in the Department of Transportation a special nonlapsing fund to be known as the “Resilient Transportation and NJ Transit Fund.”  Each year, the State Treasurer shall deposit 25 percent of the available moneys in the “Climate Adaptation, Resiliency, and Affordability Fund” into the “Resilient Transportation and NJ Transit Fund” established pursuant to this paragraph.  The Department of Transportation shall submit to the trust, twice per year, a list of recommended climate change adaptation projects to be funded using moneys in the “Resilient Transportation and NJ Transit Fund.”  At least 50 percent of funds distributed each year pursuant to this paragraph shall be used to support public transportation projects in collaboration with the New Jersey Transit Corporation.

     (2)(2)   ThereThere is established in the Board of Public Utilities a special nonlapsing fund to be known as the “Resilient Electric Grid Improvement Fund.”  Each year, the State Treasurer shall deposit 25 percent of the available moneys in the “Climate Adaptation, Resiliency, and Affordability Fund” into the “Resilient Electric Grid Improvement Fund” established pursuant to this paragraph.  The Board of Public Utilities shall submit to the trust, twice per year, a list of recommended climate change adaptation projects to be funded using moneys in the “Resilient Electric Grid Improvement Fund.”      (3)(3)   ThereThere is established in the Department of Environmental Protection a special nonlapsing fund to be known as the “Climate Adaptation Fund.”  Each year, the State Treasurer shall deposit 25 percent of the available moneys in the “Climate Adaptation, Resiliency, and Affordability Fund” into the “Climate Adaptation Fund” established pursuant to this paragraph.  The Department of Environmental Protection shall submit to the trust, twice per year, a list of recommended climate change adaptation projects to be funded using moneys in the “Climate Adaptation Fund.”      (4)(4)   ThereThere is established in the Department of Health a special nonlapsing fund to be known as the “Climate Health Fund.”  Each year, the State Treasurer shall deposit five percent of the available moneys in the “Climate Adaptation, Resiliency, and Affordability Fund” into the “Climate Health Fund” established pursuant to this paragraph.  The Department of Health shall submit to the trust, twice per year, a list of recommended climate change adaptation projects to be funded using moneys in the “Climate Health Fund.”      (5)(5)   ThereThere is established in the Department of Education a special nonlapsing fund to be known as the “Resilient School Fund.”  Each year, the State Treasurer shall deposit five percent of the available moneys in the “Climate Adaptation, Resiliency, and Affordability Fund” into the “Resilient School Fund” established pursuant to this paragraph.  The Department of Education shall submit to the trust, twice per year, a list of recommended climate change adaptation projects to be funded using moneys in the “Resilient School Fund.”      (6)(6)   ThereThere are1[are] is1 established in the Department of Agriculture two1[two] a1 special nonlapsing funds,1[funds,] fund1 to be known as the “Fund for a Resilient Garden State,”1[State,” for use in supporting agricultural resiliency projects, and the “Climate and Food Security Fund,” for use in supporting projects aimed at reducing food insecurity and promoting resiliency in food distribution. distribution.] State.”1  Each year, the State Treasurer shall deposit 2.51[2.5] five1 percent of the available moneys in the “Climate Adaptation, Resiliency, and Affordability Fund” into the “Fund for a Resilient Garden State” and1[and 2.5 percent into the “Climate and Food Security Fund.” Fund.”] established pursuant to this paragraph.1  The Department of Agriculture shall submit to the trust, twice per year, a list of recommended climate change adaptation projects to be funded using moneys in the 1[funds established pursuant to this paragraph.]  “Fund for a Resilient Garden State.”  At least 50 percent of funds distributed each year pursuant to this paragraph shall be used to support projects aimed at reducing food insecurity and promoting resiliency in food distribution.1      (7)  1There is established in the Department of Community Affairs a special nonlapsing fund to be known as the “Climate Housing Resilience Fund.”  Each year, the State Treasurer shall deposit five percent of the available moneys in the “Climate Adaptation, Resiliency, and Affordability Fund” into the “Climate Housing Resilience Fund” established pursuant to this paragraph.paragraph.  The Department of Community Affairs shall submit to the trust, twice per year, a list of recommended climate change adaptation projects to be funded using moneys in the “Climate Housing Resilience Fund.”      (8)1  There is established in the Department of Labor and Workforce Development a special nonlapsing fund to be known as the “Climate Workforce Development Fund.”  Each year, the State Treasurer shall deposit five percent of the available moneys in the “Climate Adaptation, Resiliency, and Affordability Fund” into the “Climate Workforce Development Fund” established pursuant to this paragraph.  The Department of Labor and Workforce Development shall submit to the trust, twice per year, a list of recommended climate change adaptation projects to be funded using moneys in the “Climate Workforce Development Fund.”      1[(8)  There is established in the Department of Community Affairs a special nonlapsing fund to be known as the “Climate Housing Resilience Fund.”  Each year, the State Treasurer shall deposit five percent of the available moneys in the “Climate Adaptation, Resiliency, and Affordability Fund” into the “Climate Housing Resilience Fund” established pursuant to this paragraph.  The Department of Community Affairs shall submit to the trust, twice per year, a list of recommended climate change adaptation projects to be funded using moneys in the “Climate Housing Resilience Fund.”]1      d.  All moneys appropriated or otherwise made available to a fund established pursuant to this section shall be dedicated for the purposes of the fund.  Pending use, moneys in the fund may be invested and reinvested in the same manner as other moneys of the department in the manner provided by law.  All earnings received from the investment or deposit of such moneys shall be paid into and become a part of the fund and be available for use pursuant to this act.

     (7)e.   There(1)  isThe establishedtrust inshall thefor Departmenteach offiscal Laboryear anddevelop Workforce Development a specialpriority nonlapsingsystem fundfor tothe beranking knownof asclimate thechange “Climateadaptation Workforceprojects Developmentsubmitted Fund.” to Eachit year,by the State Treasureragencies shallpursuant depositto fivethis percentsection, ofto thebe availablefinanced moneysthrough in the “ClimateClimate Adaptation, Resiliency, and Affordability Fund”Program.  intoThe thepriority “Climatesystem Workforceshall Developmentevaluate Fund”projects establishedbased pursuanton totheir thisability paragraph. to Theassess, Departmentreduce, of Labor and Workforcemanage Developmentrisks shallcaused submitby to the trust, twice per year, a list of recommended climate changechange, adaptationincluding, projectsbut tonot belimited fundedto, usingsea-level moneysrise, inflooding, theand “Climateextreme Workforceheat.  DevelopmentThe Fund.”priority     system (8)shall  Thereprioritize isprojects establishedthat ininclude therobust Departmentcommunity ofengagement, Communitya Affairscost-benefit aanalysis, specialor nonlapsingmeasures funddesigned to beprotect knownvulnerable aspopulations.  the     “Climate(2)  HousingAt Resilienceleast Fund.” 51 Each year, the State Treasurer shall deposit five percent of thegrant availablefunds moneysissued inunder the “ClimateClimate Adaptation, Resiliency, and Affordability Fund”Program intoshall thebe “Climateawarded Housing Resilience Fund” established pursuant to this paragraph.  The Department of Community Affairs shall submit to the trust, twice per year, a list of recommended climate change adaptation projects tothat beprovide fundedenvironmental using moneys in the “Climate Housing Resilience Fund.”      d.  All moneys appropriated or otherwiseother madebenefits available to aoverburdened fundcommunities.  established     pursuant(3)  toAt thisleast sectionfive shallpercent be dedicated for the purposes of thegrant fund. funds Pendingunder use, moneys in the fundClimate mayAdaptation, beResiliency, invested and reinvestedAffordability inProgram the same manner as other moneys of the department in the manner provided by law.  All earnings received from the investment or deposit of such moneys shall be paidawarded into and become a part of the fund and be available for use pursuant to thislocal act.government entities.

     e. 1(4) (1)Any  Theprivate trustentity shallthat applies for each fiscal year develop a prioritygrant systemunder for the ranking of climate change adaptation projects submitted to it by State agencies pursuant to this section, to be financed through the Climate Adaptation, Resiliency, and Affordability Program. Program The priority system shall evaluateinclude, projectsin basedits onapplication their ability to assess,the reduce,applicable anddepartment, managea riskscost-benefit causedanalysis bythat climatedemonstrates change,that including,the butproject notwill limitedresult to,in sea-levela rise,net flooding,benefit andto extremethe heat. residents Theof prioritythe systemmunicipality shallin prioritizewhich projectsthe thatproject includeis robustcarried communityout.1 engagement,     af.  cost-benefit(1)  analysis,The ortrust, measuresin designedconsultation towith protectthe vulnerableDepartment populations.       (2)  At least 51 percent of grantEnvironmental fundsProtection, issuedshall underset theforth a Climate Adaptation, Resiliency, and Affordability Program shallProject bePriority awardedList tofor projectsfunding thatfor provideeach environmentalfiscal oryear other benefits to overburdened communities.       (3)  At least five percent of grant funds under the Climate Adaptation, Resiliency, and Affordability Program shall beinclude: awarded to local government entities.

     (a) f.the aggregate amount of funds to be authorized for these purposes;

 (1)  The trust, in consultation with the Department of Environmental Protection, shall set forth a Climate Adaptation, Resiliency, and Affordability Program Project Priority List for funding for each fiscal year and shall include:

(a) the aggregate amount of funds to be authorized for these purposes;

     (2)(2)   AnyAny climate change adaptation project not identified by project1[project]1 sponsor, municipality, and county in the project priority list pursuant to paragraph (1) of this subsection shall not be eligible for a grant from any fund established pursuant to 1this1 section 161[16 of this act. act]1 .  The trust may revise or supplement the project priority list no more than four times during the fiscal year and shall submit the revised list to the Legislature when the revisions are made.  No funds may be disbursed pursuant to this subsection for climate change adaptation project activities prior to certification in writing, from the State agency that recommended the project, to the State Treasurer, that the project activities satisfy the provisions of this act.

       17. 1[17.] 12.1  a.  Any State agency, when determining which projects to provide to the trust for consideration pursuant to section 161[16] 111 of this act, and any public entity, when considering and issuing permits, licenses, regulations, contracts, or other administrative approvals and decisions necessary for the implementation of projects funded in whole, or in part, through the Climate Adaptation, Resiliency, and Affordability Program, shall apply the following standards:

     (1)(1)   forfor any construction work, all employees of any contractors or subcontractors shall be paid the prevailing wage, as determined by the Commissioner of Labor and Workforce Development pursuant to P.L.1963, c.150 (C.34:11-56.25 et seq.) and, for any building service and maintenance work shall be paid the prevailing wage, as determined by the Commissioner of Labor and Workforce Development pursuant to P.L.2005, c.379 (C.34:11-56.58 et seq.).  Whenever a recipient of moneys from the Climate Adaptation, Resiliency, and Affordability Fund contracts building service work or operations and maintenance work to a building service contractor, the contractor shall be held to the same obligations with respect to prevailing wages as the recipient.  The recipient shall include terms establishing this obligation within any contract signed with a contractor;

     (2)(2)   anyany climate change adaptation project that receives at least $5 million through the Climate Adaptation, Resiliency, and Affordability Program may be developed and constructed pursuant to a project labor agreement, in the manner provided by P.L.2002, c.44 (C.52:38-1 et seq.), and any employer who benefits from a grant from the fund1[fund] Climate Adaptation, Resiliency, and Affordability Fund1 and has employees at one or more facilities for which work was funded, in whole or in part, by the grant, shall enter into a labor harmony agreement with one or more labor organizations which represent employees in the economic sector of the facility and the agreement shall remain in effect as long as the fund has a proprietary interest in the project, except not longer than three years;

     (3)(3)   toto the extent practicable, contractors and subcontractors shall participate in apprenticeship programs, workforce training programs, and programs that provide for the recruitment of local or disadvantaged workers;

and      (4)(4)   allall manufactured products or materials used in construction, renovation or maintenance shall be produced or made in whole, or in substantial part, in the United States.

     b.  The Department of Labor and Workforce Development shall establish1[establish laborlabor] review applications for grants from the fund for conformity with the requirements of this section, prior to final approval by the trust.  If the department finds that an application is not in conformity with the requirements of this section, the department shall notify the trust, and the trust shall not approve the grant application, unless the applicant resubmits an application that conforms to the requirements of this section, within a timeframe to be determined by the trust.  If a grant is approved, the department shall be responsible for ongoing monitoring of project1 compliance standards1[standards applicable to projects funded under this act.  The department may audit projects and enforce compliance with the standards, including the suspension of funding for violations.violations] with the requirements of this section1 .

     (1)(1)   displacementdisplacement of any currently employed worker or loss of position, including partial displacement such as a reduction in the hours of non-overtime work, wages, or employment benefits;

     (2)(2)   impairmentimpairment of existing collective bargaining agreements;

     (3)(3)   transfertransfer of existing duties and functions related to maintenance and operations currently performed by existing employees of authorized entities to a contracting entity;

or      (4)(4)   transfertransfer of future duties and functions ordinarily performed by employees of authorized entities to a contracting entity.

     18. 1[18.] 13.1  a.  Nothing in this act shall be construed to supersede or diminish in any way existing remedies available to a person or the State at common law or under statute.

       19. 1[19.] 14.1  a.  On or before January 1st of the second calendar year following the date of enactment of this act, and annually1[annually] semiannually1 thereafter on or before 1March 30th and1 September 30th, the department 1, in conjunction with the Office of the Attorney General and the trust,1 shall publish an evaluation of the Climate Adaptation, Resiliency, and Affordability Program.  The purpose of the evaluation shall be to determine the effectiveness of the program in achieving the purposes enumerated in subsection a.

     (1)(1)   aa list of all responsible parties and their respective cost recovery demands, as well as any changes to an entity’s status as a responsible party during the preceding program year;

     (2)(2)   anan accounting of all cost recovery demands made to responsible parties, actual moneys collected, and penalties or other collection measures taken during the preceding program year;

     (3)(3)   anan accounting of all expenditures from the Climate Adaptation, Resiliency, and Affordability Fund, including, at a minimum, a separate accounting of:

     (a)(a)   expendituresexpenditures that benefit overburdened communities;communities 1, including a brief description of each1 ;

     (b)(b)   expendituresexpenditures used for grant programs for municipalities, community organizations, or other nonprofit organizations;organizations 1, including a brief description of each1 ;

and1[and]1      (c)(c)   expendituresexpenditures for administrative costs;

1and      (4)(d)  athe total or estimated number of direct jobs created and total wages paid to date;1      (4)  a review of the status of climate change adaptation projects funded through the program, including the number of projects that have been completed, and a description of any projects that have been identified but not yet funded;

     (5)(5)   aa summary of the geographic distribution of climate change adaptation projects;

and1[and]1      (6)(6)   anan identification of future spending needs.needs 1;

 and      20. (7) Nothe laterstatus thanof oneany yearactive afteror thepending effectivelitigation dateassociated ofwith this act, theand, Departmentif ofapplicable, Environmental Protection, the Departmentlaw offirms thethat Treasury,have thebeen Departmentretained ofby Transportation, the BoardState ofto Publicdefend Utilities,this theact, Departmenteach offirm’s Health,hourly thebilling Departmentrate, of Education, the Departmenttotal oflegal Agriculture,fees thedefending Departmentthis ofact Communityto Affairs,date, andand, theif Department of Labor and Workforce Development shall, in accordance with the “AdministrativeState Procedurehas Act,”entered P.L.1968,into c.410a (C.52:14B-1contingency etagreement, seq.),how adoptmuch rulesof andany regulationssettlement aswill necessarybe topaid implementfor thelegal provisionsrepresentation1 of. this act.

       21. 1[20.] This15.1  actNo shalllater takethan effectone immediately.year after the effective date of this act, the Department of Environmental Protection, the Department of the Treasury, the Department of Transportation, the Board of Public Utilities, the Department of Health, the Department of Education, the Department of Agriculture, the Department of Community Affairs, and the Department of Labor and Workforce Development shall, in accordance with the “Administrative Procedure Act,” P.L.1968, c.410 (C.52:14B-1 et seq.), adopt rules and regulations as necessary to implement the provisions of this act.

       1[21.] 16.1  This act shall take effect immediately.