New Jersey § 52:27d-477

§ 52:27d-477.

a. Prior to the adoption of a final revenue allocation plan, the district agent may

draw money from the revenue allocation fund for purposes of paying all project costs

incurred in connection with the development of the final revenue allocation plan as

provided in the approved operating budget, including a reserve for project costs if

such reserve is part of the preliminary plan. b. At the end of each calendar year, any moneys in the fund not pledged to bondholders

or otherwise required by the district agent for development of the plan shall be distributed

to the appropriate taxing or revenue collecting entities that shall forgo the pledged

revenues. The revenues shall be distributed by the district agent in proportion to the taxing

effort of each taxing or revenue collecting entity in the year of distribution; except

that no revenues deposited in the fund shall be included in the calculation of any

adjustment payments payable to an intermunicipal account pursuant to statute. c. After the adoption of the final revenue allocation plan the district agent may

decide to distribute to the taxing or revenue collecting entities that shall forgo

the revenues pursuant to the “Revenue Allocation District Financing Act,” sections

11 through 41 of P.L.2001, c. 310 ( C.52:27D-459 et seq. ) a portion of the revenue increments received by the district agent not pledged to

the payment of debt service or necessary to pay project costs. The revenues shall be distributed in proportion to the taxing or revenue collecting

effort of each such taxing or revenue collecting entity in the year of distribution. d. Moneys in the fund may be invested in the State of New Jersey Cash Management Fund

established pursuant to section 1 of P.L.1977, c. 281 ( C.52:18A-90.4 ) or in any securities that a local government is permitted to purchase pursuant to

section 8 of P.L.1977, c. 396 ( C.40A:5-15.1 ).