2017 New Jersey Revised Statutes
TITLE 40A - MUNICIPALITIES AND COUNTIES
Section 40A:5A-12.1 - Local authorities, certain, appropriation, transfer of surplus funds to local units.

40A:5A-12.1 Local authorities, certain, appropriation, transfer of surplus funds to local units.

1. To the extent there is available an undesignated fund balance or unreserved retained earnings held by an authority that is subject to the provisions of the "Local Authorities Fiscal Control Law," P.L.1983, c.313 (C.40A:5A-1 et seq.), excluding a fire district, a regional authority or a housing authority, an amount in that undesignated fund balance or unreserved retained earnings, not to exceed 5% of the annual costs of operation of the authority may be appropriated for use in the local budget of the municipality or county that created the authority unless otherwise restricted by bond covenants.

L.2004,c.87,s.1.

Disclaimer: These codes may not be the most recent version. New Jersey may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.