New Jersey § 49:2a-3
Full text of New Jersey New Jersey Statutes § 49:2a-3, with citation guidance and answers to common questions.
§ 49:2a-3.
As used in this act: a. “ Bond ” means a revenue obligation, security, bond, note, debenture, certificate or other
evidence of indebtedness of an issuer. b. “ Carryforward ” means that portion of the State volume cap for any calendar year which is unused
during that calendar year and which is available to be carried forward to be used
in later years pursuant to the Code. c. “ Federal formula ” means the formula or formulas for allocation of the State volume cap now or hereafter
established pursuant to the Code. d. “ Governmental bond ” means any tax-exempt bond which is not a private activity bond. e. “ Issuer ” means the State or any political subdivision of the State or any entity issuing
bonds on behalf of the State or any political subdivision of the State. f. “ Private activity bond ” and “ private activity portion of governmental bonds ” means a bond or portion thereof subject to any allocation of the State volume cap
pursuant to the Code. g. “ Tax-exempt bond ” means a bond, note or other obligation the interest on which is not includible in
federal gross income pursuant to section 103 of the Code. h. “ Tax-credit bond ” or “ tax subsidy bond ” is a bond the interest on which is included in gross income for federal income tax
purposes, but in respect of which the holder receives a tax credit or, in the alternative,
the issuer receives an interest subsidy payment, which tax credit or interest subsidy
payment is predicated on the bond qualifying for such amounts under applicable provisions
of the American Recovery and Reinvestment Act of 2009, Pub.L. No.111-5 or such other provision of federal law as may amend or supplement the Code from time
to time. i. “ Volume cap ” means the annual dollar limitation on the issuance of tax-exempt private activity
bonds and the private activity portion of governmental bonds now or hereafter imposed
on issuers by the Code or any other annual dollar limitation on the issuance of tax-credit bonds or tax-subsidy
bonds under the Code .
Frequently Asked Questions About New Jersey § 49:2a-3
What does New Jersey Statutes § 49:2a-3 cover?
Section 49:2a-3 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 § 49:2a-3?
A common citation format is "New Jersey Statutes § 49:2a-3" (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 § 49:2a-3 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.