3. The provisions of section 12 of P.L.1991, c.431 (C.40A:20-12) requiring staged increases in annual service charges over the term of the financial agreement and establishing a minimum annual service charge shall not apply to qualified subsidized housing projects.
N.J. Stat. Ann. § 40A:20-12.1
Nonapplicability of certain annual service charges
Known as the Long Term Tax Exemption Law
The act spans §§ 40A:20-1 to 40A:20-9 (27 sections).
L.1994,c.87,s.3.
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.