N.J.S.A. 13:1B-15.115 — Additional powers.

13:1B-15.115 Additional powers. 8. The trust shall have power in particular to: a. solicit and accept gifts, legacies, bequests, and endowments for any purpose which falls within that of the trust, and to maintain interest-bearing trust accounts for those purposes; and, unless otherwise specified by the person making such gift, legacy, bequest, or endowment, the trustees may expend both principal and income of any such gift, bequest, legacy, or endowment in furtherance of the trust or invest it in whole or in part in securities which are legal for trust funds in the State of New Jersey; b. acquire and hold real and personal property of historic, aesthetic, or cultural significance, by gift, purchase, devise, bequest, or by any other means, to preserve and administer such properties, and, in the acquisition of such properties, to acquire property adjacent thereto deemed necessary for the proper use and administration of historic, aesthetic, or cultural property; c. apply all moneys, assets, property, or other things of value it may receive as an incident to its operation to the general purpose of the trust; d. cooperate with and assist, insofar as practicable, any agency of the State or any of its political subdivisions and any private agency or person in furtherance of the purpose of the trust; e. give any moneys or property held by the trust to the Commissioner of Community Affairs or the Commissioner of Environmental Protection on behalf of the State for the purpose of administering, operating, or maintaining the historic sites programs of the State of New Jersey; f. report annually to the Governor and the Legislature of the State of New Jersey its activities during the preceding year together with any recommendations or requests it deems appropriate to further the purpose of the trust. The annual report shall include a summary of the trust's use of the fee-collection authority provided by subsection h. of this section. The summary shall include the following information: (1) For conferences, workshops, or other education initiatives: (a) a list of all conferences, workshops, or other education initiatives conducted during the preceding year for which fees were collected pursuant to subsection h. of this section; (b) the dollar amount of actual costs incurred by the trust in connection with each conference, workshop, or other education initiative listed in the summary; and (c) the dollar amount of fees collected pursuant to subsection h. of this section for each conference, workshop, or other education initiative listed in the summary . (d) (Deleted by amendment, P.L.2025, c.160) (2) For printed works: (a) identification by author with title of each printed work for which fees were collected pursuant to subsection h. of this section; (b) the actual cost of reprinting the printed work; and (c) the dollar amount of fees collected pursuant to subsection h. of this section for reprinting of the printed work. (d) (Deleted by amendment, P.L.2025, c.160) g. apply for recognition as an organization that is exempt from federal taxation, pursuant to section 501(c)(3) of the Internal Revenue Code (26 U.S.C.s.501(c)(3)), and to accept tax-deductible gifts, legacies, bequests, and endowments as provided pursuant to subsection a. of this section, and as allowed by the Internal Revenue Code. This authorization shall be deemed retroactive to June 21, 1967; h. collect fees for: (1) admittance to any conference, seminar, exhibition, symposium, workshop or similar meeting, or education initiative sponsored by the trust for the purpose of promoting the preservation, improvement, restoration, rehabilitation, or acquisition of historic properties in the State; and (2) distribution to any individual or entity of a book, treatise, research study, monograph, or other printed work, CD-ROM, DVD, or online digital content that has been authored or commissioned by the trust for the purpose of promoting the preservation, improvement, restoration, rehabilitation, or acquisition of historic properties in the State; and i. provide for the collection of fees under this section or by contract. j. Fees collected pursuant to paragraph (1) of subsection h. of this section shall be credited to a non-lapsing account from which the costs of the conference, workshop, or other education initiative are paid and shall be available to pay the costs incurred by the trust in connection with its sponsorship of the conference, workshop, or other education initiative or to reimburse the trust for those costs. In the event that the total amount of fees collected exceeds the actual costs incurred by the trust in connection with its sponsorship of a conference, workshop, or other education initiative, the amount of such excess shall remain in the account and may be used by the trust to pay for future costs associated with any conference, seminar, exhibition, symposium, workshop or similar meeting, or education initiative sponsored by the trust for the purpose of promoting the preservation, improvement, rehabilitation, or acquisition of historic properties in the State; k. Fees collected pursuant to paragraph (2) of subsection h. of this section shall be credited to the account from which the costs of reprinting the printed work, or creating or distributing any CD-ROM, DVD, or online digital content are paid, and shall be available to pay the costs incurred by the trust to reprint the printed work or create or distribute the CD-ROM, DVD, or online digital content or to reimburse the trust for those costs. In the event the total amount of fees collected exceeds the actual costs incurred by the trust to reprint the printed work, the amount of such excess shall remain in the account and may be used by the trust to pay for future costs associated with reprinting printed works or creating or distributing any CD-ROM, DVD, or online digital content. L.1967, c.124, s.8; amended 1995, c.217, s.4; 1999, c.152, s.46; 2009, c.288, s.1; 2025, c.160, s.3. 13:1B-15.115a. "Historic Preservation Revolving Loan Fund" created There is created a revolving loan fund to be known as the "Historic Preservation Revolving Loan Fund," authorized pursuant to subsection b. of section 10 of P.L.1987, c.265. The "Historic Preservation Revolving Loan Fund" shall be administered by the New Jersey Historic Trust. Monies in the fund shall be used for loans for historic preservation projects. L.1991,c.41,s.1.

This is the verbatim text of N.J.S.A. 13:1B-15.115, retrieved from the New Jersey Legislature's public statute corpus. Statutes are amended periodically — for the most current version, check the external source link above. Kyzer is not a law firm and this page is not legal advice.