New Jersey § 18a:7a-56
Full text of New Jersey New Jersey Statutes § 18a:7a-56, with citation guidance and answers to common questions.
§ 18a:7a-56.
a. The Commissioner of Education shall recommend to the State Treasurer whether an
advance State aid payment should be made to a school district for which a State monitor
has been appointed. The commissioner's recommendation shall be based on whether the payment is necessary
to ensure the provision of a thorough and efficient education. An advance State aid payment shall be recorded by the school district as revenue
for budget purposes in the school year in which the advance State aid payment is provided. b. The advance State aid payment shall be repaid by the school district through automatic
reductions in the State aid provided to the school district in subsequent years. The term of the repayment shall not exceed 10 years, but may be for a shorter term
as determined by the State Treasurer. At any time during the term of the repayment the State Treasurer, in consultation
with the Commissioner of Education, may determine to impose interest on the unpaid
balance; except that interest shall not be imposed in the case of a school district
for which a State monitor is appointed within 90 days of the effective date of this
act. 1 The commissioner shall transfer the amount of the reduction in State aid to the
account established pursuant to section 5 of this act. 2 c. In any year in which the school district's undesignated general fund balance is
greater than 1.5% of general fund expenditures, the amount which exceeds 1.5% shall
be an additional amount applied to the following year's repayment of the advance State
aid payment and the school district's State aid shall be reduced by this additional
amount in that following year. 1
L.2006, c. 15, eff. April 17, 2006. 2
N.J.S.A. § 18A:7A-58.
Frequently Asked Questions About New Jersey § 18a:7a-56
What does New Jersey Statutes § 18a:7a-56 cover?
Section 18a:7a-56 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:7a-56?
A common citation format is "New Jersey Statutes § 18a:7a-56" (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:7a-56 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.