New Jersey § 52:27d-440

§ 52:27d-440.

If, in any State fiscal year, net payments under the “Sales and Use Tax Act,” P.L.1966,

c.30 ( C.54:32B-1 et seq. ) from sales and use of energy or utility services, net payments under the Corporation

Business Tax Act (1945), P.L.1945, c.162 ( C.54:10A-1 et seq. ) from gas, electric, and gas and electric public utilities, whether municipal or

otherwise, that were subject to tax pursuant to the provisions of P.L.1940, c.5 ( C.54:30A-49 et seq. ) prior to January 1, 1998, net payments under the Corporation Business Tax Act (1945),

P.L.1945, c.162 ( C.54:10A-1 et seq. ) from telecommunications public utilities that were subject to tax pursuant to the

provisions of P.L.1940, c.4 ( C.54:30A-16 et seq. ) as of April 1, 1997, net payments under P.L.1940, c.5 ( C.54:30A-49 et seq. ) from sewerage and water corporations, net payments under the “Transitional Energy

Facility Assessment Act,” P.L.1997, c.162 ( C.54:30A-100 through C.54:30A-113 ) exceed $1,425,000,000, 75% of that amount of net payments in excess of $1,425,000,000

shall be credited to the “Energy Tax Receipts Property Tax Relief Fund” in addition

to the amount credited pursuant to section 2 of P.L.1997, c.167 ( C.52:27D-439 ), for distribution to municipalities as additional aid.