New Jersey § 34:1b-120
Full text of New Jersey New Jersey Statutes § 34:1b-120, with citation guidance and answers to common questions.
§ 34:1b-120.
The authority is authorized to pursue, and shall adopt rules for , the recapture of all, or a portion of, the grant of tax credits, based on criteria
established by the authority pursuant to regulation or under the terms of the project agreement . The rules shall allow for the authority to pursue the full or partial recapture or, in its discretion, to notify the Director of the Division of Taxation in the Department of the Treasury,
who shall issue a recapture assessment which shall be based upon the proportionate
value of the grant of tax credits that corresponds to the amount and period of noncompliance , in which case, the recapture of funds shall be subject to the State Uniform Tax Procedure Law, R.S.54:48-1 et seq. Recaptured funds shall be deposited in the General Fund of the State.
Frequently Asked Questions About New Jersey § 34:1b-120
What does New Jersey Statutes § 34:1b-120 cover?
Section 34:1b-120 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 § 34:1b-120?
A common citation format is "New Jersey Statutes § 34:1b-120" (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 § 34:1b-120 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.