New Jersey § 52:9h-2

§ 52:9h-2.

a. There is established in the General Fund a separate, non-lapsing fund to be known

as the “Long Term Obligation and Capital Expenditure Fund.” The Long Term Obligation and Capital Expenditure Fund shall be credited with the amount

appropriated to the fund pursuant to section 2 of P.L.2008, c. 22 and such funds as the Legislature may from time to time appropriate for the purposes

of the fund as enumerated in subsection b. of this section. b. (1) The moneys in the Long Term Obligation and Capital Expenditure Fund shall only

be used for the purposes of paying for capital improvements and the costs thereof,

retiring and defeasing debt and the costs thereof, or making supplemental payments

to reduce the unfunded post-retirement health benefits liability for members of, and

to reduce the unfunded pension liabilities of, the Public Employees' Retirement System,

the Teachers' Pension and Annuity Fund, the Police and Firemen's Retirement System,

the State Police Retirement System, the Judicial Retirement System, and the costs

thereof, and making supplemental payments to reduce the unfunded post-retirement health

benefits liability for members of the Alternate Benefit Program, and the costs thereof. (2) Appropriations from the Long Term Obligation and Capital Expenditure Fund shall

be enumerated in a separate section of the annual appropriations act, apart from all

other appropriated funds, and shall not be counted in the total amounts appropriated

from any other fund. (3) The provisions of this section shall not be construed to render balances in the

Long Term Obligation and Capital Expenditure Fund unavailable for meeting the costs

of any emergency which requires an immediate response in the protection of the life,

safety or well-being of the citizens of this State.