52:27D-500 - Neighborhood Revitalization Non-lapsing Trust Fund - New Jersey Statutes

52:27D-500  Neighborhood Revitalization Non-lapsing Trust Fund.

5.A non-lapsing trust fund is hereby established in the State treasury to be known as the Neighborhood Revitalization Non-lapsing Trust Fund, into which all assistance from business entities receiving certificates under the provisions of P.L.2001, c.415 (C.52:27D-490 et seq.) shall be deposited by the department and from which all assistance for projects approved by the department shall be drawn.  All interest earned on the funds deposited in the trust fund shall be retained in the trust fund to be used in accordance with sections 7 and 8 of P.L.2001, c.415 (C.52:27D-496 and C.52:27D-497).

L.2003,c.59,s.5.