New Jersey § 52:9h-27

§ 52:9h-27.

For each of the following conditions, any transfer or assumption of functions or service

that occurs shall be deemed to have occurred in the base year, and the “base year

appropriations” component of the formula shall be adjusted to reflect the increase

or decrease of State appropriations necessitated by the transfer or assumption: a. If any function or service performed by the State is transferred to, or its costs

of operation or performance are assumed by, any county or municipality, or if any

function or service performed by any county or municipality is transferred to, or

its costs of operation or performance are assumed by the State; and b. If any function or service performed by the State is transferred to, or its costs

of operation or performance are assumed by, any agency or instrumentality of the State

or of any county or municipality, with the power to issue bonds to finance the undertaking

of any function or the performance of any service, or if any function or service performed

by any agency or instrumentality of the State or of any county or municipality is

transferred to, or its costs of operation or performance are assumed by the State. The word “ bonds ” as used in this subsection means bonds which do not constitute a debt or liability

of the State or of any of its counties or municipalities or a pledge of the faith

and credit of the State or of any of its counties or municipalities.