40A:20-22 - Tax exemptions approved pursuant to C.40A:20-1 et seq. ratified and validated - New Jersey Statutes

40A:20-22  Tax exemptions approved pursuant to C.40A:20-1 et seq. ratified and validated.

15.The terms and conditions of any tax exemption approved pursuant to P.L.1991, c.431 (C.40A:20-1 et seq.) or its predecessor statutes, as the case may be, including any financial agreement, separate agreement or amendment implementing that exemption, are hereby ratified and validated.  This ratification and validation shall include, without limitation, the structure and methods used to calculate excess profits and annual service charges, including the limitation of revenue, expenses and total project costs, to those of the urban renewal entity, regardless of any other entity, whether affiliated or unaffiliated, with the urban renewal entity.

L.2003,c.125,s.15.