The receipts for licenses covering a 3-year period shall not be expended during any 1 year, but shall be apportioned for the purpose of expenditure upon an annual basis throughout the entire period so covered.
N.J. Stat. Ann. § 39:3-87
Expenditure of receipts, apportionment
L.1955, c. 8, p. 49, s. 13.
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.