N.J.S.A. § 54A:10-4.
Revenue sharing fund; creation; distributions to municipalities
There is hereby created within the General Treasury a Revenue Sharing Fund of $50 million of the net revenues from the New Jersey Gross Income Tax Act.
Distribution of the revenue from the fund shall be made annually to all municipalities with an effective tax rate in excess of $1.00 per $100.00 of true valuation in the proportion which the population of the qualifying municipality bears to the total population of all qualifying municipalities of the State according to the most recent State population estimates published by the New Jersey Department of Labor and Industry, except that in the year of promulgation of a Federal decennial census, the census figures shall be used.
L.1976, c. 73, s. 4.
Source: view the official text
In this chapter (12 sections)
- 54A:10-1. · Short title
- 54A:10-2. · Legislative declaration
- 54A:10-3. · Definitions
- 54A:10-4. · Revenue sharing fund; creation; distributions to…
- 54A:10-5. · Distribution of additional amount
- 54A:10-6. · Annual computation of funds due each municipality; credit…
- 54A:10-7. · Anticipation of revenues in municipal budget; reduction of…
- 54A:10-8. · Annual certification of funds due each municipality;…
- 54A:10-9. · Rules and regulations
- 54A:10-10. · Inapplicability of act to program of aid or assistance in…
- 54A:10-11. · Veterans deductions; certification of number and amounts…
- 54A:10-12. · Additional amount of revenue sharing funds due each…