New Jersey § 18a:13-61
Full text of New Jersey New Jersey Statutes § 18a:13-61, with citation guidance and answers to common questions.
§ 18a:13-61.
a. As used in section 1 of this act, 1 “ equity interest ” means the excess in value between the assets to be acquired by the withdrawing district
pursuant to section 3 of P.L.1975, c. 360 ( C.18A:13-53 ) and the proportionate contribution made by the withdrawing district to all regional
assets, adjusted for replacement value. b. The calculation required to establish the equity interest as defined in subsection
a. of this section shall be the excess, if any, of the replacement cost of the buildings,
grounds, furnishings, equipment, and additions thereto to which the withdrawing district
shall take title upon withdrawal pursuant to section 3 of P.L.1975, c. 360 ( C.18A:13-53 ) over that amount obtained by multiplying the replacement cost of all the regional
district's buildings, grounds, furnishings, equipment, and additions thereto by a
ratio that reflects the proportionate contributions made by the withdrawing district
to the payment of the cost of the regional district's assets. The proportionate contribution shall be determined by reference to the proportion
of the revenues of the regional district contributed by the withdrawing district in
each fiscal year of the life of all of the buildings, grounds, furnishings, equipment,
and additions thereto of the regional district. 1
N.J.S.A. § 18A:13-61.1.
Frequently Asked Questions About New Jersey § 18a:13-61
What does New Jersey Statutes § 18a:13-61 cover?
Section 18a:13-61 is part of the New Jersey Statutes, the codified statutory law of New Jersey. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite New Jersey § 18a:13-61?
A common citation format is "New Jersey Statutes § 18a:13-61" (New Jersey). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of New Jersey law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the New Jersey official source linked on this page or consult a licensed New Jersey attorney.
How does New Jersey § 18a:13-61 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in New Jersey can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in New Jersey.