New Jersey § 5:12-176
Full text of New Jersey New Jersey Statutes § 5:12-176, with citation guidance and answers to common questions.
§ 5:12-176.
Upon a showing of good cause by a licensee, the Casino Reinvestment Development Authority
may, in its sole discretion, waive the requirements of subsection b. of section 3
of this act 1 that, during the first 10 years of a licensee's obligation to pay the investment
alternative tax imposed by subsection a. of section 3 of this act, at least 100% of
the investment tax credit against the tax imposed by subsection a. of section 3 be
composed of the purchase of bonds of the Casino Reinvestment Development Authority,
provided the licensee shall make an equivalent investment in or guarantee of infrastructure
requirements, such as public roads, streets, intersections and sewer and water facilities,
which are dedicated to the public use and benefit society as a whole. To the extent any such investment in or guarantee of infrastructure requirements
exceeds the demand for such requirements created by an approved casino hotel or related
facility and thus does not finance infrastructure improvements required to be made
by a casino licensee pursuant to subsection e. of section 84 of P.L.1977, c. 110 ( C. 5:12-84 ), the excess investment or guarantee may, in the sole discretion of the Casino Reinvestment
Development Authority, be considered an eligible investment or project if the authority
finds that the investment or guarantee serves the most pressing social and economic
needs of the residents of the city of Atlantic City and otherwise satisfies the requirements
of section 25 of this 1984 amendatory and supplementary act, 2 and if the authority determines that the amount waived does not impair the amount
to be set aside pursuant to section 33 of this act 3 and that the waiver will not violate any agreement or covenant or impair any financial
obligation of the Casino Reinvestment Development Authority. 1
N.J.S.A. § 5:12-144.1. 2
N.J.S.A. § 5:12-173. 3
N.J.S.A. § 5:12-181.
Frequently Asked Questions About New Jersey § 5:12-176
What does New Jersey Statutes § 5:12-176 cover?
Section 5:12-176 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 § 5:12-176?
A common citation format is "New Jersey Statutes § 5:12-176" (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 § 5:12-176 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.