52:8-6 - Apportionment of income - New Jersey Statutes

52:8-6.  Apportionment of income
    The income of the fund shall be apportioned annually on or before the thirtieth day of June to the several counties in the proportion that the amount  repaid or redeposited in the State treasury by each county shall bear to the  total of the principal of the fund so repaid or redeposited. The amounts so  apportioned shall be paid by the State Treasurer to the several treasurers of  the counties entitled to receive the same.  The amount so received by the  treasurer of the county shall be further apportioned among the several school  districts of that county in the same manner as other school funds are  apportioned.

    In making the first apportionment under this amendatory statute the same may  include income from the twelfth day of March, one thousand nine hundred and  forty-five, to the thirtieth day of June, one thousand nine hundred and forty-six.

     Amended by L.1946, c. 62, p. 236, s. 1.