New Jersey § 52:27bbb-52
Full text of New Jersey New Jersey Statutes § 52:27bbb-52, with citation guidance and answers to common questions.
§ 52:27bbb-52.
Any entity which is otherwise tax-exempt pursuant to Title 54 of the Revised Statutes
and which receives funding pursuant to the “Municipal Rehabilitation and Economic
Recovery Act,” P.L.2002, c. 43 ( C.52:27BBB-1 et al.) to finance the purchase of any real property or construction of any improvement
which would otherwise be tax-exempt shall be subject to the following conditions: a. The entity shall pay an annual service charge for a period of 20 years following
the receipt of funding pursuant thereto, which shall be negotiated by the tax-exempt
entity and the chief operating officer on behalf of the qualified municipality according
to the formula set forth pursuant to section 12 of P.L.1991, c. 431 ( C.40A:20-12 ). b. The board shall approve in advance any facility plans or other such documentation
produced by the tax-exempt entity which include detailed information concerning the
projects proposed to be funded with the matching grants and the agreement negotiated
by the chief operating officer pursuant to subsection a. of this section. The receipt of matching funds by such an entity pursuant to P.L.2002, c. 43 ( C.52:27BBB-1 et al.) shall be conditioned upon compliance with the provisions of this section,
as determined by the board.
Frequently Asked Questions About New Jersey § 52:27bbb-52
What does New Jersey Statutes § 52:27bbb-52 cover?
Section 52:27bbb-52 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 § 52:27bbb-52?
A common citation format is "New Jersey Statutes § 52:27bbb-52" (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 § 52:27bbb-52 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.