New Jersey § 48:2-21
Full text of New Jersey New Jersey Statutes § 48:2-21, with citation guidance and answers to common questions.
§ 48:2-21.
In arriving at any determination as to the justness or reasonableness of any existing
rate, fare or charge or in prescribing a just and reasonable rate, fare or charge,
the board shall not be bound: 1. To find a rate base, if it determines that (a) the applicable operating expenses plus depreciation and taxes of conducting the
business, for which the rate, fare or charge is established, computed on the basis
of the 12 months next preceding the month in which the proceeding is initiated, exceeds
the revenue from such operation, during said period, under the existing rates, fares
or charges and that the revenue under the proposed increased rates, fares or charges
will not exceed such operating expenses, depreciation and taxes, or (b) the gross operating revenue of the public utility, computed on the basis of the
12 months next preceding the month in which the proceeding is initiated, exceeds the
depreciated book cost of its property used and useful in its business as a public
utility, or (c) the product or service is a new offering and not covered by an existing rate,
fare or charge approved by the board. When the board shall prescribe a rate, fare or charge without finding a rate base,
it shall, in its determination, make a finding of the facts on the basis of which
it prescribed such rate, fare or charge.
Frequently Asked Questions About New Jersey § 48:2-21
What does New Jersey Statutes § 48:2-21 cover?
Section 48:2-21 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 § 48:2-21?
A common citation format is "New Jersey Statutes § 48:2-21" (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 § 48:2-21 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.