If the funds appropriated for the purposes of this act are insufficient to provide full funding under the formula contained herein, then the funds shall be distributed to eligible institutions on a pro rata basis with each eligible institution receiving a proportionate reduction in funds.
N.J. Stat. Ann. § 18A:72B-24
Reduction of distributions if funds insufficient
Known as the Independent College and University Assistance Act
The act spans §§ 18A:72B-15 to 18A:72B-32 (18 sections).
L.1979, c. 132, s. 11, eff
Current official text: New Jersey Legislature. Digitized from the New Jersey Legislature bulk statutes download. Reproduced from public-domain New Jersey statutes; confirm against the official source for the current text. Not legal advice.