In order that no municipality shall suffer a loss in revenue due to the repeal of R.S. 48:4-14, the State shall annually remit to each municipality which received franchise taxes pursuant to said section an amount equal to that received by the municipality during the calendar year 1972, upon certification of said amount to the Director of the Division of Local Finance.
N.J. Stat. Ann. § 48:4-14.2
Payment in lieu of franchise taxes on autobusses by state to municipalities; annual certification of amount due
Known as the Bus Safety Compliance Act
The act spans §§ 48:4-1 to 48:4-9 (77 sections).
L.1972, c. 211, s. 7, 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.