New Jersey Statutes 40A:4-45.39. Reduction for unrealized municipal revenues
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Terms Used In New Jersey Statutes 40A:4-45.39
- budget: means the budget of a local unit. See New Jersey Statutes 40A:1-1
- 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
To the extent that a municipality fails to realize revenues appropriated in any budget year, other than federal or State aid revenues, it shall be required to reduce the amount on which it calculates its permissible increase for the following year by an amount equal to those revenues that it failed to realize.
L.1990,c.89,s.7.