State Revenue Sharing Act
New Jersey · New Jersey Gross Income Tax Act · §§ 54A:10-1 to 54A:10-9 · 12 sections
Overview
The act governs the distribution of state-collected revenue to local units of government, including counties, municipalities, and other taxing districts. It establishes dedicated state funds from which those distributions are made, sets out how money is allocated and disbursed to each recipient, and limits how the funds may be used. It also provides for recovery of overpayments, allows recipients to direct their payments into escrow accounts pledged to bonded indebtedness, and includes provisions supporting certain school districts and replacement of personal property tax revenue.
Editorial summary generated from the text of this act. It is not part of the statute — read the sections below for the operative language.
Sections covered
- N.J. Stat. Ann. § 54A:10-1Short title
- N.J. Stat. Ann. § 54A:10-10Inapplicability of act to program of aid or assistance in effect
- N.J. Stat. Ann. § 54A:10-11Veterans deductions; certification of number and amounts by county board of taxation
- N.J. Stat. Ann. § 54A:10-12Additional amount of revenue sharing funds due each municipality for current tax year; certification; payment
- N.J. Stat. Ann. § 54A:10-2Legislative declaration
- N.J. Stat. Ann. § 54A:10-3Definitions
- N.J. Stat. Ann. § 54A:10-4Revenue sharing fund; creation; distributions to municipalities
- N.J. Stat. Ann. § 54A:10-5Distribution of additional amount
- N.J. Stat. Ann. § 54A:10-6Annual computation of funds due each municipality; credit after prepayment of tax
- N.J. Stat. Ann. § 54A:10-7Anticipation of revenues in municipal budget; reduction of property tax levy
- N.J. Stat. Ann. § 54A:10-8Annual certification of funds due each municipality; payments
- N.J. Stat. Ann. § 54A:10-9Rules and regulations
Enacted in other states
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