52:27D-118.6 - Distribution of funds - New Jersey Statutes

52:27D-118.6.  Distribution of funds
    Moneys appropriated to fund this act shall be distributed as follows:

    a.  Payments shall first be apportioned so that a municipality which received payments in 1978 pursuant to P.L.1978, c. 56, receives the same amount  which it received in 1978 pursuant to P.L.1978, c. 56, even if after these  payments are made, insufficient funds remain for increased distributions to  municipalities which already are qualifying municipalities or for new  distribution to municipalities which become qualifying municipalities;

    b.  Any municipality in the first year it qualifies for said State aid payments shall receive payments pursuant to this act before municipalities which had received such State aid in the preceding year;

    c.  Any provisions herein to the contrary notwithstanding, a municipality which has received State aid pursuant to P.L.1978, c. 14, but which is no longer a qualifying municipality pursuant to that act shall receive, in any year in which it has qualified bonds outstanding pursuant to P.L.1976, c. 38 (C. 40A:3-1 et seq.) and which were issued prior to the effective date of this act, the amount which it received in 1978 pursuant to P.L.1978, c. 56.

     L.1979, c. 118, s. 6, eff. June 28, 1979.