New Jersey § 5:12-173
Full text of New Jersey New Jersey Statutes § 5:12-173, with citation guidance and answers to common questions.
§ 5:12-173.
The Casino Reinvestment Development Authority shall have the power to invest in projects,
in the form of equity investments or loans, or a combination of both, and to approve
direct investments in the form of equity investments or loans, or a combination of
both, by licensees in projects which best serve the public interest, which are in
furtherance of the public purposes set forth in section 12 of this act 1 and which promote the health or social or economic well-being of the people of this
State and, in particular, of the residents of the local governmental unit in which
the investment is being made. For investments by licensees required to be made in the city of Atlantic City, the
Casino Reinvestment Development Authority shall consider financing and approving those
investments which serve the most pressing social and economic needs of the city of
Atlantic City or which directly respond to the impact of legalized gambling on the
residents of the city of Atlantic City. The Casino Reinvestment Development Authority shall adopt regulations establishing
criteria and priorities for eligible projects and investments. The criteria should also apply to projects considered for guarantees pursuant to
section 24 of this 1984 amendatory and supplementary act 2 and to projects considered for the reinvestment by licensees of proceeds of bonds
repurchased by the Casino Reinvestment Development Authority from licensees pursuant
to subsection e. of section 3 of this 1984 amendatory and supplementary act. 3 No project shall be financed by the Casino Reinvestment Development Authority by
investment, guarantee or repurchase of bonds nor shall a licensee commence a direct
investment unless the project has been determined to be an eligible project meeting
the criteria. The determination shall be made only after a public hearing on the merits of the
project held in the jurisdiction of the local government unit in which the project
is to be located. No investment or guarantee shall be made by the Casino Reinvestment Development
Authority unless the terms of the investment or guarantee have been approved by the
State Treasurer. 1
N.J.S.A. § 5:12-160. 2
N.J.S.A. § 5:12-172. 3
N.J.S.A. § 5:12-144.1.
Frequently Asked Questions About New Jersey § 5:12-173
What does New Jersey Statutes § 5:12-173 cover?
Section 5:12-173 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 § 5:12-173?
A common citation format is "New Jersey Statutes § 5:12-173" (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 § 5:12-173 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.