N.J.S.A. 13:17-73 — Payment of excessive funds to constituent municipalities; reduction of service payments

13:17-73. Payment of excessive funds to constituent municipalities; reduction of service payments If, in any adjustment year, the amount payable to the constituent municipalities by the intermunicipal account for guarantee payments and service payments exceeds the amount payable to said account pursuant to section 65 of this act, the total service payments payable to all constituent municipalities shall be reduced by the amount of the deficit and the service payment payable to each constituent municipality shall be reduced by the same ratio as the total service payment to all constituent municipalities was reduced. L.1968, c. 404, s. 71. Amended by L.1972, c. 103, s. 10, eff. July 19, 1972.

This is the verbatim text of N.J.S.A. 13:17-73, retrieved from the New Jersey Legislature's public statute corpus. Statutes are amended periodically — for the most current version, check the external source link above. Kyzer is not a law firm and this page is not legal advice.