54:4A-5 - Estimate of sum municipality would have derived; appropriation - New Jersey Statutes

54:4A-5.  Estimate of sum municipality would have derived; appropriation
    The county board of taxation shall, in each year, estimate the sum of money  which the municipality would have derived during said year as tax revenue for  local purposes from such lands, if the same were not exempt from taxation, as  soon as practicable after the receipt of such certificate and shall forthwith  certify such amount to the clerk of the municipality and to the State  Department of Taxation and Finance and the State Department of Taxation and  Finance shall transmit copies of said certificate to the Governor forthwith and  to the chairmen of the Appropriation Committees of the Senate and General  Assembly during the first week of the session of the Legislature held in the  next ensuing calendar year, to the end that there may be appropriated by the  Legislature to such municipality a sum to compensate such municipality for the  loss of revenue occasioned by reason of the exemption from taxation of such  lands.

     L.1947, c. 73, p. 441, s. 2.