New Jersey § 18a:72b-18
Full text of New Jersey New Jersey Statutes § 18a:72b-18, with citation guidance and answers to common questions.
§ 18a:72b-18.
The State Treasurer , subject to the availability of appropriations, is authorized to contract with eligible
independent colleges and universities in this State to provide educational services
to New Jersey students. Payment to the institutions shall be based upon the number of full-time equivalent
New Jersey undergraduates enrolled during the pre-budget year in the independent institutions
multiplied by 25% of the level of direct per student support for the State college
sector during the pre-budget year. The total funding generated by the preceding formula shall be distributed as follows: a. Ten percent of this total shall be divided equally among the eligible institutions. These “designated” amounts shall be awarded to each institution except in any instance
where the amount of dollars designated for a particular institution under this section
exceeds the total amount to be awarded to that institution under subsections b. and
c. of this section. In such instances, the funds designated under subsection a. shall be reduced to
equal the total of subsections b. and c., which shall be the amount awarded to the
institution under this section. The difference between the amount designated and the amount awarded under this section
shall be returned to the department. b. Thirty-five percent shall be distributed on the basis of New Jersey students who
received State financial aid or aid administered by such institutions of $1,000.00
or more, in all cases exclusive of loans, during the pre-budget year. c. Fifty-five percent shall be distributed on the basis of New Jersey full-time equivalent
students, as herein defined, enrolled in such institutions during the pre-budget year. The funds granted under this act may be used by the institutions for any purposes
which they deem to be appropriate to maintaining or enhancing the quality of the academic
offerings available to New Jersey students, except for purposes of sectarian instruction,
the construction or maintenance of sectarian facilities, or for any other sectarian
purpose or activity. For the purposes of this act the number of full-time equivalent students at the
eight State colleges for the 1979-80 academic year is 54,380.
Frequently Asked Questions About New Jersey § 18a:72b-18
What does New Jersey Statutes § 18a:72b-18 cover?
Section 18a:72b-18 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:72b-18?
A common citation format is "New Jersey Statutes § 18a:72b-18" (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:72b-18 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.