2. The economic development fund established in the New Jersey Economic Development Authority under section 7 of P.L.1974, c.80 (C. 34:1B-7) shall be a fund for community development purposes with the meaning and intent of the “Community Development Bond Act of 1981,” P.L.1981, c.486, and shall be eligible to receive appropriations from the “Community Development Bond Fund” established under that act. All moneys appropriated to, and deposited in, the economic development fund shall be subject to all terms and conditions of “The New Jersey Economic Development Authority Act,” P.L.1974, c.80 (C. 34:1B-1 et seq.), except as otherwise prescribed in this act.

L.1981,c.505,s.2.