New Jersey § 52:27bbbb-2
Full text of New Jersey New Jersey Statutes § 52:27bbbb-2, with citation guidance and answers to common questions.
§ 52:27bbbb-2.
The Legislature finds and declares that: a. The short and long-term fiscal stability of local government units is essential
to the interests of the citizens of this State to assure the efficient and effective
provision of necessary governmental services vital to public health, safety, and welfare,
including the fiscal health of our State's municipalities. b. In certain extreme cases, local governments that experience severe fiscal distress
become incapable of addressing the circumstances that led to that extraordinary distress
or of developing a comprehensive plan for financial rehabilitation and recovery. c. It is necessary and appropriate for the State to take action to assist local governments
experiencing severe budget imbalances and other conditions of severe fiscal distress
or emergency by requiring prudent fiscal management and operational efficiencies in
the provision of public services. d. As the State entity primarily responsible for the financial integrity and stability
of all local government units, the Local Finance Board should be authorized, under
certain limited circumstances, to develop a comprehensive rehabilitation plan for
local governments that are experiencing severe fiscal distress, and to act on behalf
of local government units to remedy the distress.
Frequently Asked Questions About New Jersey § 52:27bbbb-2
What does New Jersey Statutes § 52:27bbbb-2 cover?
Section 52:27bbbb-2 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 § 52:27bbbb-2?
A common citation format is "New Jersey Statutes § 52:27bbbb-2" (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 § 52:27bbbb-2 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.