New Jersey § 5:12-224

§ 5:12-224.

a. Notwithstanding any law, rule, or regulation to the contrary, if the South Jersey

Transportation Authority shall transfer for consideration, by sale or lease, all or

any part, of its interest in the airport known as the Atlantic City International

Airport and any other lands and improvements as the South Jersey Transportation Authority

has acquired pursuant to section 24 of P.L.1991, c. 252 ( C.27:25A-24 ) and all related facilities and activities, the South Jersey Transportation Authority

shall assign and pay, or otherwise transfer, after payment of bonds or other obligations

pursuant to law, contract, or other form of agreement, any revenues or proceeds from

such sale or lease in equal amounts to the governing body of the following counties:

Atlantic, Burlington, Camden, Cape May, Cumberland, Gloucester, Ocean, and Salem. b. The revenues or proceeds distributed to the governing body of the counties pursuant

to subsection a. of this section shall be used solely for the planning, acquisition,

engineering, construction, reconstruction, repair, resurfacing and rehabilitation

of public highways and the planning, acquisition, engineering, construction, reconstruction,

repair, maintenance and rehabilitation of public transportation projects and of other

transportation projects, which a county may be authorized by law to undertake and

which has been approved by the governing body of that county. Nothing in this subsection shall be construed to mean that the revenues or proceeds

distributed to the governing bodies of the counties shall be in lieu of any other

State or federal monies for transportation purposes. Within three months of receipt of any revenues or proceeds from the sale or lease

of all, or any part of, Atlantic City International Airport, the governing body of

each county shall submit to the Commissioner of Transportation a report detailing

how the county intends to use the revenues or proceeds, the projects the governing

body of the county is planning to undertake, or currently undertaking with the revenues

or proceeds, and any other relevant information concerning the use of the money for

public highway, public transportation projects, and other transportation projects. Thereafter, the governing body of each county shall submit annually such information

to the Commissioner of Transportation.