New Jersey § 55:14k-49
Full text of New Jersey New Jersey Statutes § 55:14k-49, with citation guidance and answers to common questions.
§ 55:14k-49.
a. There is hereby established in the agency the Housing Incentive Finance Fund, which
shall be continuing and nonlapsing, for the purpose of funding loan guarantees authorized
pursuant to this act. Moneys in the fund not immediately required for payment or liquid reserves may be
invested and reinvested by the agency in the same manner in which other agency funds
may be invested. b. There shall be paid into the fund: (1) all proceeds from the sale of bonds pursuant
to section 4 of this act; 1 (2) fees received pursuant to this act; (3) any income earned upon investment of
moneys in the fund by the agency pursuant to subsection a. of this section; and (4)
any other funds that may be available to the fund through appropriation by the Legislature
or otherwise. c. Moneys in the fund shall be used exclusively for (1) funding loan guarantees pursuant
to this act; (2) paying the interest on and repaying the principal of bonds issued
pursuant to section 4 of this act; (3) entering into agreements pursuant to section
8 of this act 2 for credit enhancement of bonds issued by the agency pursuant to this act; (4) making
payments in fulfillment of the terms of loan guarantees entered into pursuant to section
7 of this act; and (5) defraying the administrative costs of the agency in carrying
out the purposes and provisions of this act. d. Fees for the issuance of loan guarantees issued by the fund shall be established
by the agency at the lowest rate compatible with the integrity of the fund and its
proper administration, maintenance of adequate reserves for the actuarially sound
funding of guarantee pledges, and the ability of the agency to pay the interest upon
and repay the principal of bonds issued pursuant to section 4 of this act. 1
N.J.S.A. § 55:14K-48. 2
N.J.S.A. § 55:14K-52.
Frequently Asked Questions About New Jersey § 55:14k-49
What does New Jersey Statutes § 55:14k-49 cover?
Section 55:14k-49 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 § 55:14k-49?
A common citation format is "New Jersey Statutes § 55:14k-49" (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 § 55:14k-49 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.