New Jersey § 52:27bbbb-21
Full text of New Jersey New Jersey Statutes § 52:27bbbb-21, with citation guidance and answers to common questions.
§ 52:27bbbb-21.
a. In addition to the amounts required to be remitted under section 3 of P.L.2016, c. 5 ( C.52:27BBBB-20 ), the owner of each casino gaming property shall make a separate payment to the State , where the aggregate amount of these payments paid by the casino gaming properties
shall be equal to the following: (1) $30,000,000 for calendar year 2015; (2) $30,000,000 for calendar
year 2016; (3) $15,000,000 for calendar year 2017; (4) $10,000,000 for calendar
year 2018; and (5) $5,000,000 per year for calendar years 2019 through 2026 . b. The Local Finance Board, in consultation with the division, shall determine the
amount owed for each casino gaming property based on the proportion of gross gaming
revenue of the casino in casino gaming property in the prior year. The owner of each casino gaming property where a casino is operated during the year
in which the payments required by this section are due shall remit its payment to
the State no later than June 1 of each year . The Local Finance Board shall provide the owner of each casino gaming property required
to make a payment under this section with written notice of the amount of the payment
for each casino gaming property, and instructions for how each payment shall be made. Each owner of a casino gaming property required to make a payment under this section
shall remit its payment within five business days of receipt of the written notice
from the Local Finance Board. c. The funds comprised of the payments collected under this section shall be remitted
from the State to Atlantic City, which, for purposes of preparing annual budgets pursuant
to the “Local Budget Law,” N.J.S.40A:4-1 et seq. , must be applied to the Atlantic City budget for the calendar year for which funds
are provided as identified in subsection a. of this section and to no other Atlantic
City calendar year budget.
Frequently Asked Questions About New Jersey § 52:27bbbb-21
What does New Jersey Statutes § 52:27bbbb-21 cover?
Section 52:27bbbb-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 § 52:27bbbb-21?
A common citation format is "New Jersey Statutes § 52:27bbbb-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 § 52:27bbbb-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.