New Jersey § 13:17-74

§ 13:17-74.

There is established the Hackensack Meadowlands Tax Sharing Stabilization Fund in

the Hackensack Meadowlands Development Commission. The fund shall be comprised of revenues made available from interest payments on

sanitary landfill closure accounts maintained by the commission or such other revenues

which are made available for these purposes. Moneys in the fund shall be used to fully compensate municipalities from excessive

fluctuations in payments to or from the intermunicipal account in 1999 and subsequent

years, as provided hereunder. In the event that there are insufficient monies in the fund to fully compensate

all municipalities in any year, the amount paid to each municipality shall constitute

the same proportion of the total amount of money available to all municipalities as

each municipality would receive if the amount of money in the fund were sufficient

to fully compensate all municipalities in that year. For the purposes of this section, any increase in the payment required to be made

by a constituent municipality to the intermunicipal account which is in excess of

five percent over the previous year's payment shall be considered an “excessive fluctuation.”

Any decrease in a payment required to be made from the intermunicipal account to a

constituent municipality which is in excess of five percent below the previous year's

payment shall also be considered an “excessive fluctuation.”