N.J.S.A. 26:2H-12.18 — Reserve requirement as fulfillment of utilization requirements.

26:2H-12.18 Reserve requirement as fulfillment of utilization requirements. 3. The 10% reserve requirement of this act shall be recognized to fulfill all or a portion, as applicable, of low and moderate income or Medicaid utilization requirements contained in municipal ordinances and shall satisfy all or a portion, as applicable, of low income housing requirements for assisted living residences or comprehensive personal care homes that are financed by bonds mandating low income housing as a condition of financing. L.2001,c.234,s.3.

This is the verbatim text of N.J.S.A. 26:2H-12.18, 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.