New Jersey § 18a:72a-53
Full text of New Jersey New Jersey Statutes § 18a:72a-53, with citation guidance and answers to common questions.
§ 18a:72a-53.
The initial grants from the trust fund shall be allocated as follows: a. $48,000,000 for facilities at the State Colleges; b. $38,880,000 for facilities at Rutgers, The State University; c. $20,160,000 for facilities at the University of Medicine and Dentistry of New Jersey; 1 d. $12,960,000 for facilities at the New Jersey Institute of Technology; e. $44,000,000 for facilities at the county colleges; f. $21,000,000 for facilities at the private institutions of higher education; g. $15,000,000 for South Jersey multi-institutional economic development facilities. As used in this section, “ South Jersey multi-institutional economic development facilities ” means facilities which would promote economic development in the eight southernmost
counties of the State and which involve more than one public or private institution
of higher education; and h. $20,000,000 for a new facility for Rutgers, The State University, School of Law,
Newark. The amount authorized in subsection g. may be apportioned among any other amounts
authorized in subsections a. through f. of this section. The Secretary of Higher Education may reallocate any balance in an amount authorized in subsections
a. through h. of this section which has not been approved by the secretary for a grant within 18 months of the effective date of this act. The Secretary of Higher Education shall determine the allocation of moneys deposited into the trust
fund resulting from the issuance by the authority of new bonds because of the retirement
of bonds previously issued by the authority. The facilities funded by grants from the trust fund shall follow the principles of
affirmative action and equal opportunity employment. In furtherance of these principles, the Secretary of Higher Education shall continue the policy of encouraging institutions to solicit bids from, and award contracts to,
minority and women-owned businesses. 1
University of Medicine and Dentistry of New Jersey transferred to Rutgers, The State
University, pursuant to N.J.S.A. § 18A:65-94.
Frequently Asked Questions About New Jersey § 18a:72a-53
What does New Jersey Statutes § 18a:72a-53 cover?
Section 18a:72a-53 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:72a-53?
A common citation format is "New Jersey Statutes § 18a:72a-53" (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:72a-53 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.