New Jersey Statutes 52:14-17.1a. Computation to determine adjustment of rate; formula
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Terms Used In New Jersey Statutes 52:14-17.1a
- Remainder: An interest in property that takes effect in the future at a specified time or after the occurrence of some event, such as the death of a life tenant.
- State: extends to and includes any State, territory or possession of the United States, the District of Columbia and the Canal Zone. See New Jersey Statutes 1:1-2
On the first business day of January and the first business day of July of each year a computation shall be made to determine whether the mileage reimbursement allowed in section 1 of P.L.1943, c. 188 (C. 52:14-17.1) is to be adjusted on that date according to the following formula:
C.P.-B.P.
Adjustment = ………..
18
where:
a. Adjustment means the result of the above calculation in the number of whole cents plus one-half cent where the remainder is five-ninths or greater;
b. C.P. means the price paid for regular gasoline by the State on the date of the computation; and
c. B.P. means the price paid for regular gasoline by the State on the effective date of this amendatory and supplementary act.
L.1980, c. 19, s. 2, eff. March 26, 1980.