New Jersey § 52:31-1
Full text of New Jersey New Jersey Statutes § 52:31-1, with citation guidance and answers to common questions.
§ 52:31-1.
a. There is established in the Department of the Treasury a special, non-lapsing fund
into which shall be deposited the proceeds of the sale of any surplus State-owned
real property which has been approved for sale or conveyance by the State House Commission
pursuant to section 4 of P.L.1997, c. 135 ( C.52:31-1.3a ) after the effective date of P.L.2007, c. 108 , unless another disposition of such proceeds is specified by statute. The monies in the fund are dedicated and shall be used only to carry out the purposes
described in subsection b. of this section. The fund shall be credited with all interest received from the investment of monies
in the fund, and any monies which, from time to time, may otherwise become available
for the purposes of the fund. Pending the use thereof pursuant to the provisions of subsection b. of this section,
the monies deposited in the fund shall be held in interest-bearing accounts in public
depositories, as defined pursuant to section 1 of P.L.1970, c. 236 ( C.17:9-41 ), and may be invested or reinvested in such securities as are approved by the State
Treasurer. b. Monies deposited in the fund shall be used only for the relief of State debt or
to assist in funding capital improvement projects undertaken by the State. The allocation of such money from the fund shall be made upon the recommendation
of the Governor for the annual appropriations act, together with a detailed description
of the purpose for which the monies will be used. The money shall be expended only upon appropriation in the annual appropriations
act and only for the specified purposes.
Frequently Asked Questions About New Jersey § 52:31-1
What does New Jersey Statutes § 52:31-1 cover?
Section 52:31-1 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 § 52:31-1?
A common citation format is "New Jersey Statutes § 52:31-1" (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 § 52:31-1 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.